From the Executive Editor
Hi there, and a belated Happy New Year. It’s good to be back after the December break we took for the e-news. Any time we announce a break it’s essentially a euphemism for “I’ve got no content.”
I hope ’18 has started off well for you. Of course the main thing on all our minds right now is the impact of the new tax law on our business. I decided that this will be the focus of this month’s e-news, and I asked my former colleague Roman Androsov, Director of Actuarial Services at PenSys, Inc., to write an article to explain to us how the new 20% qualified business income deduction works and how it may affect incentives to set up plans. Roman delivered with a meaty article. After I read it yesterday I needed to lie down for a while with a cool rag on my forehead! But then an hour later I got a call from a CPA with a sole practice who needs to set up a DB plan this year to drop her taxable income to a level that takes advantage of the deduction, and I understood the issue well enough to not make a fool of myself, so thanks Roman for talking the time to write this up for us. Click here to view the 16-page article in pdf form.
Karen Smith recently attended an Actuarial Standards Board meeting, and updates us on the process of updating the ASOPs near and dear to us, ASOP 27 and ASOP 35. Her article is here.
ACOPA’s 2018 President, Bill Karbon, has provided a brief update from the Leadership Council, here.
Okay, back to work!