Pension

The Pension Practice Council (PPC) provides objective technical expertise to policymakers and regulators on major retirement policy issues, including Social Security, defined benefit pension plans, and retiree health.

Social Security
Social Security
Financial sustainability and other topics related to the Social Security program.
Retirement Policy
Retirement Policy
Long term retirement policy, including the effects of legislation and regulations on retirement benefits, and emerging issues affecting retirement plans.
Public Pension Plans
Public Pension Plans
State and local government employee benefit plans’ funding, financial reporting, financial risks and plan design, and actuarial standards of practice related to public plans.
Pension Accounting and Finance
Pension Accounting and Finance
Financial reporting related to retirement plans, developments from national and international accounting standards-setting bodies, recent policy developments, and new regulations and standards.
Retiree Health
Retiree Health
Addresses issues surrounding bipartisan solutions to reform the U.S. health care system and restore retirement security for all Americans.
Multiemployer Pension Plans
Multiemployer Pension Plans
Multiemployer plans’ funding, financial reporting, financial risks, and plan design.

Pension News

Committee Sends Letter to IRS on ERISA Notice Requirements
The Pension Committee sent comments to the Internal Revenue Service regarding its recent guidance related to notice requirements under section 101(j) of ERISA for funding-related benefit limitations in single-employer defined benefit pension plans. (February 5, 2013)
Academy Letter to New York Times
The Academy wrote a letter to The New York Times in response to an op-ed that questioned whether longevity risk was posing new problems for Social Security and if actuaries had taken this into account. In the letter, the Academy said Social Security actuaries assess longevity rates as well as other factors regularly. The larger issue, however, is that the president and Congress should address now Social Security’s long-term solvency. (January 9, 2013)
Pension Committee Comments on Proposed Revisions to ASOP No. 25
The Pension Committee submitted comments to the Actuarial Standards Board responding to its proposed revisions to ASOP No. 25, Credibility Procedures. The comments focused on the exposure draft’s expanded scope of ASOP 25 and raises concerns regarding the standard’s application to pension practice. (December 28, 2012)
Social Security Committee Releases Issue Guide on Social Security Reform
The Social Security Committee released an issue guide for the general public, policymakers, and the media to use as they evaluate Social Security reform proposals. This guide poses questions that should be asked when policymakers put forth specific proposals to change the Social Security system. (December 17, 2012)
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Pension Public Statements

Comments and letters

Comments, analysis, or explanatory material prepared for an external audience on behalf of an Academy group or the Academy as a whole; these include letters, memos, reports, and fact sheets.

Issue briefs

Analyses of major actuarial or public policy issues written primarily for policy-makers, regulators, the news media, and the public.

Policy papers

Include white papers and monographs which are longer, more detailed analyses of major actuarial or public policy issues written primarily for policy-makers, regulators, the news media, and the public. Includes monographs and white papers.

Presentations

Slides presented by the Academy at webinars, seminars, briefings, hearings, or other meetings and events.

Reports to the NAIC

The Academy works with the National Association of Insurance Commissioners (NAIC) on the creation and refinement of sensible, effective regulation. These reports and related documents highlight the NAIC-related work of the pension practice councils.

Testimony

Written and oral testimony provided to Congress or to other governmental and quasigovernmental bodies.

Practice Notes

Practice notes

Generally written in a Q&A format, practice notes offer examples of current and emerging approaches to selected actuarial tasks. They are intended to supplement the available actuarial literature, especially where the practices addressed are subject to evolving technology, recently adopted external requirements, or advances in actuarial science and other applicable disciplines.