JULY 9: Actuarial Standards Board to Hold Public Hearing Regarding Public Pension Issues

WASHINGTON – The Actuarial Standards Board (ASB) will hold a public hearing on July 9, 2015, to hear comments on proposed actuarial standards of practice (ASOPs) related to actuarial work regarding public pension plans. As the standards-setting body for actuaries in the United States, the ASB is seeking comments from interested parties on how to improve pension-related ASOPs and plans to use the information gathered at the hearing as it considers next steps in the evolution of these standards. This public hearing follows the ASB’s issuance of a Request for Comments (RFC) on ASOPs and Public Pensions Plan Funding and Accounting in July 2014. Additional information can be found here.

Media is invited to attend this public hearing. Still photography will be allowed. Members of the media should RSVP to David Mendes in the American Academy of Actuaries’ communications department at 202.384.2075 or at mendes@actuary.org.

What:                  Actuarial Standards Board Hearing on Public Pension Issues

When:                 July 9, 2015, 1:30-5:30 p.m. EDT

Where:               Polaris Room, Concourse Level
                          Ronald Reagan Building and International Trade Center
                          1300 Pennsylvania Ave NW, Washington, DC 20004

The ASB establishes and improves standards of actuarial practice. These ASOPs identify what the actuary should consider, document, and disclose when performing an actuarial assignment. The ASB’s goal is to set standards for appropriate practice for the United States.

The ASB was established within and is supported by the American Academy of Actuaries, an 18,500+ member professional association whose mission is to serve the public and the U.S. actuarial profession. The Academy assists public policymakers on all levels by providing leadership, objective expertise, and actuarial advice on risk and financial security issues. The Academy also sets qualification, practice, and professionalism standards for actuaries in the United States.

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