Measuring Pension Obligations for Difficult-to-Value Plan Provisions: A Discussion of the Practice Note
Feb. 22, 2023 | Noon to 1:30 p.m. EST | USQS CE and JBEA CPE Available
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ABOUT THIS WEBINAR
In December, the Academy issued a new practice note, Measuring Pension Obligations for Difficult-to-Value Plan Provisions. This webinar, based on that practice note, is intended to help actuaries in working with defined benefit pension plan designs and provisions that may be difficult to adequately measure using traditional actuarial valuation procedures.
During the webinar, our presenters will:
- Explain the purpose and importance of the practice note;
- Discuss identifying significant difficult-to-value plan provisions and possible approaches that are used to measure obligations or quantifying risk associated with such plan provisions;
- Discuss the relevant actuarial standards of practice (ASOPs) applicable to valuing these types of plans; and
- Review the strengths and weaknesses of a variety of alternative valuation techniques that could potentially be applied to difficult-to-value plan provisions.
Attendees will learn about the considerations in selecting a valuation approach, including the purpose of the measurement; applicable requirements, such as those that apply to funding and accounting measurements; and other considerations, such as which valuation techniques might better fit particular types of plan provisions.
- Bruce Cadenhead, MAAA, FSA, FCA, EA
Global Chief Actuary, Wealth, Mercer
- Lloyd Katz, MAAA, FSA, FCA, EA
Member, Pension Committee
- Frank Todisco, MAAA, FSA, FCA, EA
Chief Actuary, U.S. Government Accountability Office
- Tom Lowman, FSA, EA
- Rachel Barnes, MAAA, FSA, FCA, EA, CERA
Member, Pension Committee
The American Academy of Actuaries believes in good faith that attendance at this live webinar constitutes an organized activity as defined under the current Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States, and that attendees may earn up to 1.8 CE credits for attending this live webinar.
We also believe in good faith that Enrolled Actuaries (EAs) may earn up to 1.8 continuing professional education (CPE) core credits under the Joint Board for the Enrollment of Actuaries (JBEA) rules for attending this live webinar. However, the JBEA ultimately determines what constitutes core, non-core, ethics, or non-ethics continuing education and the number of CPE credit hours allocated to same for Enrolled Actuaries. All EAs who want to receive a Certificate of Attendance must be registered either as an individual attendee or listed as part of a group registration and must submit their request within two business days of the event. You are still required to attest to your actual attendance for the full webinar to receive full JBEA credit.
- Please note that the Joint Board for the Enrollment of Actuaries’ (JBEA) temporary waiver of the “physical presence” requirement ended on Dec. 31, 2022. Consequently, in order for attending EAs to receive Formal JBEA CPD credit for attending this program, the EA must simultaneously participate in the live program in the same physical location with at least two other participants engaged in substantive pension service. Groups of three or more participants who are in the same physical location may participate via the internet, video conferencing, or teleconferencing.
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