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 Multiemployer Plans Committee submitted comments to the Internal Revenue Service about a proposed form for reporting the annual actuarial certification for multiemployer defined benefit plans.
( )The Pension Committee published a practice note, ASOP No. 51: Risk Assessment in Practice, providing information to actuaries on current or emerging practices affected by ASOP No. 51, Assessment and Disclosure of Risk Associated with Measuring Pension Obligations and Determining Pension Plan Contributions.
( )The Pension Committee, Multiemployer Plans Committee, and Public Plans Committee submitted comments to the Actuarial Standards Board regarding the second exposure draft of Actuarial Standard of Practice No. 4, Measuring Pension Obligations and Determining Pension Costs or Contributions.
( )The Multiemployer Plans Committee published an issue brief about some of the considerations that go into the selection of actuarial assumptions for multiemployer plans.
( )The Lifetime Income Risk Joint Committee released a new issue brief, Actuarial Perspectives on Determining a Retirement Income Budget.
( )The Pension Practice Council published an issue brief detailing why the investment return assumption should be determined by the asset allocation, not the other way around.
( )The Intersector Group released the notes of its May 2020 conference call with the Pension Benefit Guaranty Corporation.
( )The Academy published an issue brief examining the potential impact of the SECURE Act on retirement security, which was developed by Senior Pension Fellow Linda K. Stone in conjunction with the chairperson and members of the Retirement System Assessment and Policy Committee and the co-chairpersons of the Lifetime Income Risk Joint Committee.
( )The Social Security Committee released an issue brief on the 2020 Social Security Trustees Report that examines the social insurance program’s long-term solvency issues and points out that Congress should act soon to improve the long-term financial outlook of the program.
( )The Vice President of the Academy Pension Practice Council and the Chairperson of the Multiemployer Plans Committee submitted a comment letter to House of Representatives leadership regarding pension provisions of H.R. 6800, the Health and Economic Recovery Omnibus Emergency Solutions Act (“HEROES Act”).
( )The Multiemployer Plans Committee released an issue brief that addresses current practices and approaches to the selection of withdrawal liability interest rates.
( )The Academy’s Retirement System Assessment and Policy Committee published an issue brief that considers potential ways to optimize portability and personal management of retirement assets, income, and benefits.
( )The Public Plans Committee published a practice note reviewing current and emerging approaches to completion of the Actuarial section of the Comprehensive Annual Financial Report (CAFR).
( )The Multiemployer Plans Committee submitted a letter to the Internal Revenue Service requesting leniency on the March 30th deadline for multiemployer pension plan certifications.
( )The Pension Committee submitted a comment letter to the Internal Revenue Service on updated mortality improvement rates and static mortality tables for defined benefit pension plans for 2021.
( )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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