From the Executive Editor

By Alan Stone • May 11, 2018 • 0 Comments

Hello all – spring has finally sprung in New York, and my self-diagnosed Seasonal Affective Disorder has gone away. But with the nice weather, I have learned that my golf game is in shambles. It is not easy being a mathlete instead of an athlete. Hoping that as I relax more and get centered, the better I can become.

Speaking of bettering ourselves, Martella A. Turner-Joseph, a partner at Joseph & Turner Consulting Actuaries, LLC in New York City, is providing an opportunity for a lucky few actuaries to make a difference in the world. Read about the work of the Legislative Relations Committee in this month’s “Catching ip With…” feature, which you can find here

Speaking of bettering ourselves (which we were just doing), have you ever read Outliers: The Story of Success, by Malcom Gladwell? Gladwell looks at factors that contribute to high levels of success. Among the points made are examples of being in the right place at the right time. For example, two people can be born with innate hockey skills, but being born in January in Canada will give you a leg up — you will be the oldest and perhaps biggest kid in your class, and of course, Canada provides a lot of opportunities to play hockey.

And how many of us were lucky to get into this profession at the same time ‘Actuary’ was at the top of ranked professions? And here we are with the ACOPA listserv to make us better actuaries and the great people we can interact with at ACOPA conferences. Right times, right places.

Joe Nichols, Owner of Nichols Actuarial Consulting, has written an article about people who don't necessarily have access to the path of becoming an actuary. What Joe is doing in The Actuarial Foundation is about moving the path to those who need it. Joe issues an achievable challenge in his article and I hope you will step up and take that challenge. 

Speaking of getting better, happy to present the first technical article of my editorship. The article is written by Rick Block, chief actuary for Block Consulting Actuaries, Inc., and Kevin Donovan, the managing member and founder of Pinnacle Plan Design. This is a followup to their presentation at the EA meeting on “DC Plan Issues When Combined with DB Plans.” You can find their article here

Years ago, when a somewhat sadistic supervisor suggested I read IAS 19 on the possibility we would have to prepare such a report, did I cry myself to sleep that night? I will never tell! (Just some slight sobbing…) If only I had a handy guide to explain the differences between IAS 19 and ASC 715, I might have retained my dignity that night. Lauren Okum, founder and chief actuary of Premier Actuarial Solutions (and Executive Vice President of ACOPA) is making our lives easier by providing an article on IAS 19 versus ASC 715. You can find Lauren’s article here

And finally, ACOPA’s President, Bill Karbon, is announcing the establishment of a task force to provide input regarding the solvency of multiemployer plans, and your chance to participate in the committee. His post is here

I implore the non-involved to get involved with one of the committees mention above or detailed in Bill Karbon's post in last month's issue. As in golf, the more you surround yourself with great players, the better you will become.