Pension Committee

The committee's mission is to bring to the public and the United States actuarial profession expertise regarding public and private retirement plans. Within the scope of this mission, the committee:

  • Provides independent and objective analysis, advice, and education to stakeholders of public and private retirement plans with respect to:
    • Funding
    • Financial reporting, in conjunction with Pension Accounting Committee
    • Managing financial risks
    • Plan design
  • Actively consults with public policymakers about the effects of legislation and regulations on retirement benefits.
  • Identifies emerging issues affecting retirement benefit plans.
  • Comments on pending retirement legislation and regulations.
  • Coordinates with other Academy committees where appropriate on issues with overlapping interests.
  • Develops practice notes for the membership.
  • Comments on actuarial standards of practice related to public and private plans.

Staff liaison: Monica Konate´

Chairperson: Ellen Kleinstuber
Vice Chairperson:Bruce Cadenhead
Margaret Berger
Elena Black
Susan Breen-Held
Scott Hittner
Thomas Lowman
Tonya Manning
A. Donald Morgan
Keith Nichols
Nadine Orloff
Maria Sarli
James Shake
Mark Shemtob
Aaron Weindling

Related Publications

Pension Committee comments to the AICPA Employee Benefit Expert Panel on the current ASC 960 reporting standards for defined benefit pension plans. (October 27, 2017)
Pension Committee comment letter to the ERISA Advisory Council on the Annual Funding Notice Under ERISA Section 101(f). (August 16, 2017)
Pension Committee comment letter to the IRS and Treasury on the projection of benefits under cash balance plans with variable interest credits. (May 12, 2017)
Pension Committee comment letter to the Actuarial Standards Board (ASB) on the proposed Actuarial Standard of Practice (ASOP), Setting Assumptions.
(May 02, 2017)
Pension Committee comment letter to the IRS on the proposed update to mortality tables for determining the present value for defined benefit pension plans. (March 30, 2017)
Pension Committee comments to the U.S. Treasury Department requesting guidance from the IRS and Treasury to resolve uncertainties that exist as to how variable annuity plans should be valued for minimum funding and Internal Revenue Code (IRC) §417(e) purposes.
(March 09, 2017)
Pension Committee comment letter to the IRS on proposed regulations to the minimum present value requirements for defined benefit (DB) plan distributions. (February 24, 2017)
Pension Committee issue brief that explores five different approaches used in developing a yield curve, and associated spot rates, from a bond model. 
(December 30, 2016)
Pension Committee, Multiemployer Plans Subcommittee, and Public Plans Subcommittee comments to the Actuarial Standards Board (ASB) on a draft actuarial standard of practice (ASOP) on risk assessment and disclosure. (October 31, 2016)
Pension Committee (PC) comments to the Actuarial Standards Board (ASB) on the third exposure draft of a proposed actuarial standard of practice (ASOP) on modeling. (October 21, 2016)
Pension Committee issue brief that explores risk transfers by defined benefit pension plans from the perspectives of plan sponsors, beneficiaries, and policymakers. (October 11, 2016)
Pension Committee comments to U.S. Senate Special Committee on Aging Chairman Susan Collins on efforts to encourage open multiple employer plans.
(September 01, 2016)
Pension Committee comment letter on the decision by the Internal Revenue Service (IRS) to limit the pension actuaries’ potential to interact with IRS actuaries and other experienced employee-benefits personnel.
(July 15, 2016)
Pension Committee comment letter to the Pension Benefit Guarantee Corporation (PBGC) expressing appreciation for proposed regulations providing a reduction or partial waiver of the penalty due upon the late payment of premiums to the single employer and multiemployer insurance programs.
(June 22, 2016)
Pension Committee comment letter to the IRS and Treasury requesting that the 2017 Applicable Mortality Tables be issued as soon as possible. (June 10, 2016)
Pension Committee comments to the Internal Revenue Service regarding the proposed regulations for nondiscrimination relief for closed defined benefit plans.
(April 28, 2016)
Pension Committee exposure draft of practice note on current and emerging practices in the selection of investment return assumptions based on anticipated future experience. The comment deadline for this practice note is June 27, 2016. (April 26, 2016)
Public Plans Subcommittee comment letter on the exposure draft on Pension Issues—an amendment of GASB Statements No. 67, No. 68 and No. 73. 
(February 12, 2016)
Pension Committee comments to the Pension Benefit Guaranty Corporation (PBGC) regarding the proposed changes to the §4010 reporting requirements.
(September 25, 2015)
Pension Accounting Committee and Pension Committee issue brief on alternative expense methodologies and their theoretical rationales and implications.
(August 14, 2015)
Pension Committee comments to the IRS regarding the timing for release of the mortality tables under §§430(h)(3) and 417(e) of the Internal Revenue Code for 2016.  (July 17, 2015)
Pension Committee's practice note, “Selecting and Documenting Mortality Assumptions for Pensions,” revised to reflect a new mortality improvement scale (BB) published by the Retirement Plans Experience Committee (RPEC) of the Society of Actuaries in 2012, mortality table RP-2014, and mortality improvement scale MP-2014 published by the Society of Actuaries in 2014.  (June 15, 2015)
Pension Committee comments to the Actuarial Standards Board (ASB) on its exposure draft, “Assessment and Disclosure of Risk Associated with Measuring Pension Obligations and Determining Pension Plan Contributions.” (June 01, 2015)
Pension Committee comment letter to the Actuarial Standards Board (ASB) regarding the second exposure draft of the proposed Actuarial Standard of Practice (ASOP) on modeling standards.  (March 01, 2015)
Pension Committee comment letter to the IRS regarding the use of mortality tables to calculate pension funding requirements for the years after 2015. (February 05, 2015)