Fixed Rate Pension Funding: A Discussion of the Practice Note

Fixed Rate Pension Funding
A Discussion of the Practice Note

May 18, 2023 | Noon to 1:30 p.m. EDT | USQS CE and JBEA CPE Available

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ABOUT THIS WEBINAR

The Academy’s Public Plans Committee published a practice note, Fixed Rate Pension Funding. While public sector pension plan contributions are often made based on the actuarial calculations, many public plans make contributions which are simply a statutory fixed contribution rate without explicit respect to the actuarially determined contribution.

During this webinar, our speakers walked through the new practice note. Attendees heard about current and emerging ideas for working with these plans.

Time will be available for questions and answers.

SPEAKERS

William "Flick" B. Fornia, MAAA, FSA, FCA, EA
Brian Murphy, MAAA, FSA, FCA, EA, Ph.D.
Member, Public Plans Committee
Member, Social Security Committee

MODERATOR

Judith Kermans, MAAA, FCA, EA
Member, Public Plans Committee

CONTINUING EDUCATION

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) non-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.

QUESTIONS

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