Public Pension Plans | American Academy of Actuaries

Issue Brief Lays Out Information to Help Assess Value of Pension Buyouts

The Public Plans Committee released an issue brief, Public Pension Plans: Helping Members Evaluate Buyout Programs and Other Lump Sums. The issue brief suggests critical information that would help members compare the value of an offered buyout—a lump sum payment in exchange for some or all of their pension benefits—to the value of the lifetime benefits. (September 11, 2024)

Issue Brief Examines ‘Surplus’ in Public Pension Plans

The Public Plans Committee released ‘Surplus’ Considerations for Public Pension Plans, an issue brief that examines plan “surplus,” what it means and does not mean, historical lessons for public plans regarding “surplus,” and considerations for plans at or approaching 100% funding in the future. (April 11, 2024)

Public Plans Committee Practice Note on Service Purchase

The Public Plans Committee released Introduction to Service Purchases for Public Pension Plans, a practice note considering a variety of service purchase programs that can be found across public sector pension plans, as well as plan administration topics that actuaries should be aware of when working with them. (February 02, 2024)

Public Plans Committee Practice Note on Fixed Rate Pension Funding

Practice note providing information to actuaries on current and emerging ideas for working with public defined benefit pension plans that use fixed rate funding. (February 09, 2023)

80% Pension Funding Myth Issue Brief Update

Pension Practice Council issue brief debunking the myth that an 80% funded ratio is the proper basis for determining whether a pension plan is financially or “actuarially” sound. (October 06, 2021)

Issue Brief on the Impact of the Pandemic on Public Pension Plans

Public Plans Committee issue brief on the impact of the COVID-19 pandemic on public pension plans. (December 14, 2020)

Committee Publishes Practice Note on Actuarial Section of the Comprehensive Annual Financial Report

Public Plans Committee practice note reviewing current and emerging approaches to completion of the Actuarial section of the Comprehensive Annual Financial Report. (March 31, 2020)

Comments from Committees on ASOP 27 and 35 Exposure Drafts

Comments from the Pension Committee, Multiemployer Plans Committee, and Public Plans Committee to the Actuarial Standards Board on the exposure drafts of Actuarial Standards of Practice 27 and 35. (September 09, 2019)

Academy Comments to ASB on ASOPs 4, 27, and 35

Pension Committee, Public Plans Committee and Multiemployer Plans Committee comment letter to ASB on exposure drafts of proposed revisions to ASOPs 4, 24, and 35. (July 30, 2018)

Comments to Missouri State Employees’ Retirement System Board on Terminated-Vested Member Buyout Program

Pension Practice Council comment letter to Missouri State Employees’ Retirement System Board on the newly-adopted Terminated-Vested Member Buyout Program. (October 23, 2017)