| 2022-14 |
Adopted
02/25/2025
Interim Meeting |
IP No. 170 |
Issue Paper No. 170—
Tax Credits Project
|
New SAP Concept |
SSAP No. 93 and SSAP No. 94
Effective 01/01/2025 |
Adopted Issue Paper No. 170 provides a historical record of the sequence of events and discussions which occurred throughout the Tax Credits Project, from the start of the project with agenda item #2022-14 through the adoption of agenda item #2024-18. SSAP No. 93 and SSAP No. 94 became effective January 1, 2025. |
| 2024-10 |
Adopted
02/25/2025
Interim Meeting |
SSAP No. 56 |
SSAP No. 56 – Book Value Separate Accounts
|
SAP Clarification |
Effective
01/01/2025 |
Adopted revisions clarify measurement method guidance as well as prescribe guidance for how transfers to/from the general account and separate account shall be recognized. |
| 2024-16 |
Adopted
02/25/2025
Interim Meeting |
Annual Statement Instructions |
Repack and Derivative Investments
|
No SSAP Revisions |
ASI Effective 12/31/2024 |
Adopted revisions clarify that held debt securities, which are sold to a Special Purpose Vehicle (SPV) and then reacquired reflecting the addition of derivative or other components, shall be reported as a disposal and reacquisition in the investment schedules. This item did not result in any SSAP revisions. |
| 2024-22 |
Adopted
02/25/2025
Interim Meeting |
SSAP No. 104 |
ASU 2024-01, Scope Application of Profits Interest and Similar Awards
|
SAP Clarification |
Effective 02/25/2025 |
Adopted revisions adopt with modification ASU 2024-01, which provides clarification on the application of guidance on stock compensation in the form of profits interest. |
| 2024-23 |
Adopted
02/25/2025
Interim Meeting |
SSAP No. 86
Annual Statement Instructions
|
Derivative Premium Clarifications |
SAP Clarification |
Effective 02/25/2025 |
Adopted revisions clarify language surrounding derivative financing premium within SSAP No. 86 and recommendations for the annual statement instructions.
The previously exposed revisions, which clarified the calculation of realized losses in relation to derivative premium costs, were moved to agenda item #2024-15: ALM Derivatives for further consideration as part of the larger derivatives and IMR discussion. |
| 2024-25 |
Adopted
02/25/2025
Interim Meeting |
SSAP No. 16 |
SSAP No. 16 Clarifications
|
SAP Clarification |
Effective 02/25/2025 |
Adopted revisions clarify references to the U.S. GAAP Accounting Standards Codification (ASC) within SSAP No. 16. |
| 2024-27 |
Adopted
02/25/2025
Interim Meeting |
Preamble |
Issue Papers in Statutory Hierarchy
|
SAP Clarification |
Effective 02/25/2025 |
Adopted revisions classify issue papers as Level 5 in the statutory hierarchy. |
| 2024-28 |
Adopted
02/25/2025
Interim Meeting |
SSAP No. 41 |
Holders of Capital Notes
|
SAP Clarification |
Effective 02/25/2025 |
Adopted revisions clarify capital notes references and guidance. |
2024 ADOPTIONS
|
| Ref. # |
Date Adopted |
SSAP/ Appendix |
Title |
Type |
Date Effective |
Summary |
| 2024-26EP |
Adopted 12/17/2024
Interim Meeting |
SSAP No. 26 |
Editorial Update |
SAP Clarification |
Effective 01/01/2025 |
Adopted revisions to the annual audited disclosure for bonds in paragraph 39.e. of SSAP No. 26—Bonds to prescribe that the information presented should be by category and subcategory as reported in annual statement schedule D – Part 1, Section 1 (Issuer Credit Obligations) and Section 2 (Asset-Backed Securities).
This disclosure is effective in accordance with the January 1, 2025, effective date of the revised bond definition detailed in SSAP No. 26. |
| 2019-21 |
Adopted 11/17/2024
Fall NM |
INT 24-01 |
Principles-Based Bond
Definition Implementation
Questions and Answers |
SAP Clarification |
Effective 01/01/2025 |
Adopted INT 24-01 addresses specific questions related to the implementation of the Principles-Based Bond Project that had been brought to the Bond/AICPA small group. |
| 2024-11 |
Adopted 11/17/2024
Fall NM |
SSAP No. 101 |
ASU 2023-09, Improvements
to Income Tax Disclosures |
SAP Clarification |
Effective 11/17/2024 |
Adopted revisions to SSAP No. 101 reject ASU 2023-09 for statutory accounting purposes and deletes the disclosure detailed in SSAP No. 101, paragraph 23.b., as it was determined to be no longer relevant due to changes made to federal tax codes. |
| 2024-17 |
Adopted 11/17/2024
Fall NM |
SSAP No. 108 |
Clearly Defined Hedging
Strategy |
SAP Clarification |
Effective 11/17/2024 |
Adopted SSAP No. 108—Derivatives Hedging Variable Annuity Guarantees revisions update the definition of a clearly defined hedging strategy (CDHS) to reflect the revised guidance pursuant to VM-01.
|
| 2024-18 |
Adopted 11/17/2024
Fall NM |
SSAP No. 48
SSAP No. 93
SSAP No. 94 |
Clarification of Accounting
Guidance for Recognition of
Tax Credits |
SAP Clarification |
Effective 01/01/2025 |
Adopted revisions in SSAP No. 93—Investments in Tax Credit Structures clarify the accounting guidance for recognizing allocated and purchased tax credits in relation to the journal entry example. Adopted revisions in SSAP No. 94—State and Federal Tax Credits fix an inconsistency between the accounting guidance and journal entry examples. Adopted revisions to SSAP No. 48—Joint Ventures, Partnerships and Limited Liability Companies revise a sentence which was inadvertently not updated as part of the project. |
| 2024-19 |
Adopted 11/17/2024
Fall NM |
Appendix D |
ASU 2024-02, Codification
Improvements—Amendments
to Remove References to the
Concepts Statements |
SAP Clarification |
Effective 11/17/2024 |
Adopted revisions to Appendix D—Nonapplicable GAAP Pronouncements rejects ASU 2024-02 as not applicable to statutory accounting. |
| 2024-01 |
Adopted 09/12/2024
E-Vote |
SSAP No. 26
IP No. 169 |
Bond Definition – Debt
Securities Issued by Funds |
New SAP Concept |
Effective 01/01/2025 |
With the adopted revisions, debt securities issued by non-SEC registered funds that reflect operating entities can qualify as issuer credit obligations. The guidance requires assessment as to the purpose of the issued debt security and is explicit that debt securities issued for the raising of debt capital are required to be assessed as asset-backed securities. |
| 2019-21 |
Adopted 08/13/2024
Summer NM |
IP No. 169 |
Principles-Based Bond
Definition |
New SAP Concept |
SSAPs Impacted Effective 01/01/2025 |
Adopted Issue Paper No. 169 documents the discussions and decisions related to the principles-based bond project.
The adopted SSAPs impacted by the principles-based bond definition are effective January 1, 2025, and should be used as the source of authoritative guidance.
|
| 2022-12 |
Adopted 08/13/2024
Summer NM |
SSAP No. 25
SSAP No. 63
INT 03-02 |
Review of INT 03-02:
Modification to an Existing
Intercompany Pooling
Arrangement |
SAP Clarification |
Effective 08/13/2024 |
Adopted revisions to SSAP No. 25 and SSAP No. 63 address transfers of assets when modifying intercompany pooling agreements. This agenda item also nullifies INT 03-02. |
| 2023-26 |
Adopted 08/13/2024
Summer NM |
SSAP No. 15
SSAP No. 86 |
ASU 2023-06, Disclosure
Improvements |
SAP Clarification |
Effective 08/13/2024 |
Adopted revisions in SSAP No. 15 and SSAP No. 86 adopt, with modification, certain disclosures from ASU 2023-06.
The ASU 2023-06 disclosures originally recommended for inclusion in SSAP No. 103R are to be added to agenda item 2024-04: Conforming Repurchase Agreements for further consideration as part of the larger project looking at statutory guidance for repurchase agreements and secured lending.
|
| 2024-02 |
Adopted 08/13/2024
Summer NM |
SSAP No. 19
SSAP No. 73 |
ASU 2023-01, Leases (Topic
842), Common Control
Arrangements |
SAP Clarification |
Effective 08/13/2024 |
Adopted revisions in SSAP No. 19 and SSAP No. 73 adopt, with modification, ASU 2023-01. |
| 2024-03 |
Adopted 08/13/2024
Summer NM |
SSAP No. 20
INT 21-01 |
ASU 2023-08, Accounting for
and Disclosure of Crypto
Assets |
SAP Clarification |
Effective 08/13/2024 |
Adopted revisions in SSAP No. 20 adopt, with modification, ASU 2023-08 and nullify INT 21-01: Accounting for Cryptocurrencies. |
| 2024-08 |
Adopted 08/13/2024
Summer NM |
SSAP No. 26R
SSAP No. 30R
SSAP No. 32R
SSAP No. 43R
SSAP No. 48 |
Residual Consistency
Revisions |
SAP Clarification |
Effective 01/01/2025 |
Adopted revisions result with identified SSAPs referring to SSAP No. 21 for the formal residual definition and for accounting and reporting guidance. |
| 2024-09 |
Adopted 08/13/2024
Summer NM |
SSAP No. 2 |
SSAP No. 2 Clarification |
SAP Clarification |
Effective 01/01/2025 |
Adopted revisions eliminate lingering references implying that asset-backed securities, mortgage loans, or other Schedule BA items are permitted to be reported as cash equivalents or short-term investments. |
| 2024-14EP |
Adopted 08/13/2024
Summer NM |
Various |
Editorial Revisions |
SAP Clarification |
Effective 08/13/2024 |
Adopted editorial revisions to the AP&P Manual remove “Revised” and “R” identifiers from SSAP titles and SSAP references throughout the Manual. |
| 2023-16 |
Adopted 05/15/2024
Interim Meeting |
Schedule BA |
Schedule BA Categories |
No SSAP Revisions |
2023-12BWG Effective 01/01/2025 |
Adopted agenda item summarizing key revisions in the modified blanks proposal 2023-12BWG sponsored by the SAPWG, which is proposed to be effective January 1, 2025. This agenda item did not result in any SSAP revisions. |
| 2024-13 |
Adopted 05/15/2024
Interim Meeting |
SSAP No. 107 |
Update SSAP No. 107 Disclosures |
SAP Clarification |
Effective 12/31/2024 |
Adopted revisions to SSAP No. 107 remove the transitional reinsurance program disclosures and the risk corridor disclosures as both programs have expired. In addition, the roll-forward illustration in Exhibit B was revised to remove the portion for the transitional reinsurance program and the risk corridors program. |
| 2019-21 |
Adopted 03/16/2024
Spring NM |
SSAP No. 21R |
Principles-Based Bond
Project & Residual Interests |
New SAP Concept |
Effective 01/01/2025 |
Adopted revisions provide guidance for debt securities that do not qualify as bonds under the principles-based bond definition, with a January 1, 2025, effective date.
Adopted revisions prescribe accounting guidance (measurement method) for all residual interests regardless of legal form. This specific guidance is effective January 1, 2025, but can be early adopted for 2024.
|
|
2022-14
2022-14a
2022-14b
2022-14c
|
Adopted 03/16/2024
Spring NM |
SSAP No. 93R
SSAP No. 94R
SSAP No. 34
SSAP No. 48 |
New Market Tax Credit
Project |
New SAP Concept |
Effective 01/01/2025 |
Adopted revisions expand and amend guidance within SSAP No. 93 to include all tax credit investments regardless of structure and type of state or federal tax credit program. Revisions to SSAP No. 94R expand and amend guidance to include both purchased state and federal tax credits. Revisions in SSAP No. 34 and SSAP No. 48 include consistency revisions in response to the changes made to SSAP No. 93 and SSAP No. 94R. |
| 2023-25 |
Adopted 03/16/2024
Spring NM |
Appendix D |
ASU 2023-03 – SEC Updates |
SAP Clarification |
Effective 03/16/2024 |
Adopted revisions reject ASU 2023-03 as not applicable for statutory accounting. |
| 2023-27 |
Adopted 03/16/2024
Spring NM |
Appendix D |
ASU 2023-04 – SEC
Updates, Crypto |
SAP Clarification |
Effective 03/16/2024 |
Adopted revisions reject ASU 2023-04 as not applicable for statutory accounting. |
| 2023-29 |
Adopted 03/16/2024
Spring NM |
Annual Statement Instructions |
IMR Preferred Stock |
SAP Clarification |
Effective 12/31/2024 |
Adopted proposed revisions to the annual statement instructions which direct perpetual preferred stock (including SVO-Identified Preferred Stock ETFs), and mandatory convertible preferred stock through the AVR. This proposal did not result in SSAP revisions.. |
| 2023-30 |
Adopted 03/16/2024
Spring NM |
SSAP No. 97 |
SSAP No. 97 Admissibility
Requirements |
SAP Clarification |
Effective 03/16/2024 |
Adopted revisions align the language in SSAP No. 97, paragraph 24, with the existing guidance provided in paragraphs 26 and 27. |
| 2023-28 |
Adopted 02/20/2024
Interim Meeting |
SSAP No. 21R |
Collateral Loan Reporting |
SAP Clarification |
Effective 12/31/2024 |
Adopted revisions to SSAP No. 21R incorporate a collateral loan disclosure for year-end 2024 to detail admitted and nonadmitted collateral loans in accordance with the underlying collateral supporting the loan. |
| N/A |
Adopted
by HATF 02/20/2024
Interim
Meeting |
Health Actuarial (B) Task Force Memo
AG 51
|
Actuarial Guideline LI–The
Application of Asset
Adequacy Testing to Long-
Term Care Insurance
Reserves |
N/A |
Effective 02/20/2024 |
Adopted revisions to AG 51 in Appendix C of the AP&P Manual by the Health Actuarial (B) Task Force clarify that regardless of which annual statement blank an insurer files, it must make an AG 51 filing if the AG 51 filing requirements criteria are met. |
| INT 23-04 |
Adopted 01/10/2024
Interim
Meeting |
SSAP No. 61R |
Scottish Re Life Reinsurance
Liquidation Questions |
SAP Clarification |
Effective 12/31/2023 |
INT 23-04: Scottish Re Life Reinsurance Liquidation Questions provides accounting and reporting guidance for ceding entities with reinsurance balances to or from Scottish Re, a U.S.-based life reinsurer in liquidation. The guidance focuses primarily on reinsurance recoverables. |
| 2023-24 |
Adopted 01/10/2024
Interim
Meeting |
INT 06-07
SSAP No. 2R
SSAP No. 5R
SSAP No. 22R
SSAP No. 26R
SSAP No. 32R
SSAP No. 34
SSAP No. 37
SSAP No. 39
SSAP No. 41R
SSAP No. 43R
SSAP No. 61R
SSAP No. 62R
SSAP No. 86
SSAP No. 103R
SSAP No. 105R
|
ASU 2016-13 Measurement of
Credit Losses on Financial
Instruments (CECL) |
SAP Clarification |
Effective 12/31/2023 |
Revisions reject ASU 2016-13 and related subsequent ASUs in various SSAPs and INT 06-07: Definition of Phrase “Other Than Temporary.” These revisions reject CECL for statutory accounting. |
