Pension Committee
The committee's purpose is to bring to the public and the United States actuarial profession expertise regarding public and private retirement plans. Within the scope of this mission, the committee:
Provides independent and objective analysis, advice, and education to stakeholders of public and private retirement plans with respect to:
Funding
Financial reporting
Managing financial risks
Plan design
Actively consults with public policymakers about the effects of legislation and regulations on retirement benefits.
Identifies emerging issues affecting retirement benefit plans.
Comments on pending retirement legislation and regulations.
Coordinates with other Academy committees where appropriate on issues with overlapping interests.
Develops practice notes for the membership.
Comments on actuarial standards of practice related to public and private plans.
Staff Liaison:
Matthew Sonduck
Chairperson:
Grace Lattyak
Vice Chairperson:
Lloyd Katz
Members:
Michael Antoine
Michael Bain
Margaret Berger
James Burke
Bruce Cadenhead
Maria Carnovale
Tristan Christ
Jonathan de Lutio
C. David Gustafson
Scott Hittner
Maria Kirilenko
Edward Law
Tonya Manning
Gerard Mingione
Maria Moliterno
Nadine Orloff
Aaron Shapiro
Mary Stone
Thomas Swain
Hal Tepfer
Michael Bain
Margaret Berger
James Burke
Bruce Cadenhead
Maria Carnovale
Tristan Christ
Jonathan de Lutio
C. David Gustafson
Scott Hittner
Maria Kirilenko
Edward Law
Tonya Manning
Gerard Mingione
Maria Moliterno
Nadine Orloff
Aaron Shapiro
Mary Stone
Thomas Swain
Hal Tepfer
Related Publications
Exposure Draft of Practice Note on ASOP No. 56
Exposure draft of a Pension Committee practice note providing background and ideas about how a pension actuary might comply with ASOP No. 56, Modeling. Please send comments to the pension policy...
Topics: Retirement
Date Published: 10/06/2020
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Issue Brief on the Impact of COVID-19 for Pension Plans
Pension Committee issue brief on near-term and long-term effects of COVID-19 on pension plans, mortality, and other assumptions.
Topics: Retirement
Date Published: 09/22/2020
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ASOP No. 51: Risk Assessment in Practice
Pension Committee practice note providing information to actuaries on current or emerging practices affected by ASOP No. 51, Assessment and Disclosure of Risk Associated with Measuring Pension...
Topics: Retirement
Date Published: 07/29/2020
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Pension Committee Comment Letter to IRS on Updated Mortality Tables
Pension Committee comment letter to the Internal Revenue Service on updated mortality improvement rates and static mortality tables for defined benefit pension plans for 2021.
Topics: Retirement
Date Published: 03/09/2020
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Committee Practice Note on Working with Auditors
Pension Committee practice note Working With Auditors of Pension and OPEB Plans providing insights to actuaries on engaging with auditors.
Topics: Retirement
Date Published: 12/11/2019
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Pension Committee Releases Variable Annuity Practice Note
Practice note prepared by Pension Committee addressing current and emerging practices for measuring obligations of defined benefit pension plans, with respect to variable annuity benefits.
Topics: Benefits Retirement
Date Published: 11/01/2019
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Committee Comments to SOA on Pri-2012 Exposure Draft
Pension Committee comments to Society of Actuaries Retirement Plans Experience Committee regarding the Pri-2012 exposure draft.
Topics: Retirement
Date Published: 08/12/2019
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Comments on Second Exposure Draft of the Setting Assumptions ASOP
Pension Committee comment letter to the Actuarial Standards Board regarding the second exposure draft of the Setting Assumptions ASOP.
Topics: Actuarial Standards Retirement
Date Published: 07/31/2019
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Selecting Investment Return Assumptions: Considerations When Using Arithmetic and Geometric Averages
Pension Committee practice note providing discussion and background information on the determination of investment return assumptions with a focus on considerations relating to the use of the...
Topics: Retirement
Date Published: 07/31/2019
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Academy Comments to ASB on Modeling ASOP
Pension Committee comment letter to ASB on fourth exposure draft of the Modeling ASOP.
Topics: ASB Retirement
Date Published: 05/15/2019
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Valuing Benefits Payable as a Lump Sum
Pension Committee practice note discussing the valuation of lump sum benefits for financial accounting purposes.
Topics: Benefits Retirement
Date Published: 02/21/2019
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Valuing Benefits Payable As A Lump Sum
Pension Committee exposure draft of practice note on current and emerging practices in the development of liabilities and cost estimates for pension plans with benefits paid as a lump sum. The...
Topics: Benefits Retirement
Date Published: 09/20/2018
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The Pension Protection Act: Successes, Shortcomings, and Opportunities for Improvement
Pension Committee issue brief that analyzes the Pension Protection Act of 2006 (PPA) and its subsequent amendments against the principles underlying funding reform.
Topics: Retirement
Date Published: 04/05/2018
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Comments to the American Institute of Certified Public Accountants on ASC 960 Calculations
Pension Committee comments to the AICPA Employee Benefit Expert Panel on the current ASC 960 reporting standards for defined benefit pension plans.
Topics: Retirement
Date Published: 10/27/2017
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Comments to ERISA Advisory Council on Annual Funding Notice Under ERISA Section 101(f)
Pension Committee comment letter to the ERISA Advisory Council on the Annual Funding Notice Under ERISA Section 101(f).
Topics: Retirement
Date Published: 08/16/2017
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Comments to Congressman on Incentives for Annuities
Pension Committee comment letter to Rep. Devin Nunes regarding incentives to provide annuity payouts from qualified plans.
Topics: Annuities Retirement
Date Published: 08/11/2017
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Comments to IRS and Treasury on Projection of Cash Balance Benefits
Pension Committee comment letter to the IRS and Treasury on the projection of benefits under cash balance plans with variable interest credits.
Topics: Benefits Retirement
Date Published: 05/12/2017
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Comments to ASB on Setting Assumptions ASOP Draft
Pension Committee comment letter to the Actuarial Standards Board (ASB) on the proposed Actuarial Standard of Practice (ASOP), Setting Assumptions.Date Published: 05/02/2017
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Comments to IRS on Proposed Update to Mortality Tables
Pension Committee comment letter to the IRS on the proposed update to mortality tables for determining the present value for defined benefit pension plans.
Topics: Retirement
Date Published: 03/30/2017
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Comments to Treasury Requesting Guidance on Variable Annuity Plans
Pension Committee comments to the U.S. Treasury Department requesting guidance from the IRS and Treasury to resolve uncertainties that exist as to how variable annuity plans should be valued for...
Topics: Retirement
Date Published: 03/09/2017
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