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
Financial sustainability and other topics related to the Social Security program.
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.
Retiree Health
Addresses issues surrounding bipartisan solutions to reform the U.S. health care system and restore retirement security for all Americans.
Retirement Policy
Long term retirement policy, including the effects of legislation and regulations on retirement benefits, and emerging issues affecting retirement plans.
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.
Multiemployer Pension Plans
Multiemployer plans’ funding, financial reporting, financial risks, and plan design.
Pension News
The Pension Committee submitted comments to the Society of Actuaries Retirement Plans Experience Committee regarding the Pri-2012 exposure draft.
( )The Academy has released a new Essential Elements paper, Creating a National Retirement Policy, outlining the ways in which a comprehensive national retirement policy could potentially address concerns about retirement security in the United States. Essential Elements is a series designed to make actuarial analyses of public policy issues clearer to general audiences.
( )The Academy hosted a briefing, “Strengthening the System for the Future,” moderated by vice president for pension issues, Josh Shapiro, and featuring expert panelists from the Multiemployer Plans Committee, to provide essential background on the multiemployer pension crisis and its current state. This was the third and final briefing in the Academy’s “Multiemployer Pension Crisis: A 360-Degree Look at the Issue and Potential Reforms” series, intended to equip attendees with a solid foundation of the past, present, and potential future of multiemployer pension plans.
( )The Academy hosted a briefing, featuring vice president for pension issues, Josh Shapiro, and expert panelists from the Multiemployer Plans Committee, to provide essential background on the multiemployer pension crisis and its current state. This briefing is the second in the Academy’s “Multiemployer Pension Crisis: A 360-Degree Look at the Issue and Potential Reforms” briefing series, which is intended to equip attendees with a solid foundation of the past, present, and potential future of multiemployer pension plans.
( )The Academy hosted a briefing, featuring expert panelists from the Multiemployer Plans Committee, to provide essential background on the multiemployer pension crisis and its current state. This briefing is the first in the Academy’s “Multiemployer Pension Crisis: A 360-Degree Look at the Issue and Potential Reforms” briefing series, which is intended to equip attendees with a solid foundation of the past, present, and potential future of multiemployer pension plans.
( )A new issue brief developed by the Academy’s Retirement System Assessment and Policy Committee explores the concept of a national retirement policy, including the potential benefits of such a policy and the various topics that it might address. Read the news release.
( )The Social Security Committee released an issue brief on the 2019 Social Security Trustees Report that examines the social insurance program’s long-term solvency issues and recommends that Congress should act soon to improve the long-term financial outlook of the program
( )The Academy updated its Essential Elements reports on Medicare’s Long-Term Sustainability Challenge and Securing Social Security with information from the newly released 2019 Medicare and Social Security trustees reports. The Essential Elements series is designed to make actuarial analyses of public policy issues clearer to general audiences.
( )The Pension Committee submitted a comment letter to the ASB on the fourth exposure draft of the Modeling ASOP.
( )The Intersector group released the notes of its March 2019 meeting with the Pension Benefit Guaranty Corporation.
( )The Intersector group released the notes of its March 2019 meeting with the Treasury Department and Internal Revenue Service.
( )The Multiemployer Plans Committee submitted comments to the Pension Benefit Guaranty Corporation (PBGC) regarding simplified methods and other aspects of computing withdrawal liability under the Multiemployer Pension Reform Act of 2014.
( )The Academy responded in writing to questions from the House Subcommittee on Health, Education, Labor, and Pensions as a follow-up to the panel’s March 7 hearing, “The Cost of Inaction: Why Congress Must Address the Multiemployer Pension Crisis,” at which Josh Shapiro, the Academy’s vice president, pension, testified.
( )Academy Pension Vice President Josh Shapiro testified March 7 before the House Subcommittee on Health, Employment, Labor, and Pensions, providing written and oral testimony with a nonpartisan, objective, actuarial focus on the increasing financial risks facing some multiemployer plans and the PBGC’s multiemployer program.
( )The Pension Practice Council published a practice note providing information on current and emerging practices in the selection of investment return assumptions based on anticipated future experience.
( )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
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.
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