New research findings from the actuarial profession illustrate the pension funding challenges facing the private defined benefit system. Presenters from the American Academy of Actuaries and Society of Actuaries discussed important implications for plan sponsors, beneficiaries, and policymakers. Speakers: Academy Vice President Ethan Kra, SOA Vice President Tom Terry, SOA Research Actuary Joe Silvestri, and Academy Senior Pension Fellow Don Fuerst. Part 1/4
Academy Senior Pension Fellow Donald Fuerst discussed Ellen Schultz's new book, "Retirement Heist." Fuerst told host Steve Inskeep that in his professional experience, most employers have had the best interest of their organizations and employees at heart. He also said that most pension plan funding troubles are related to a poor economy and “extraordinarily complex” pension funding rules.
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Academy Public Interest Committee Chairperson Tom Terry testified to the U.S. House Committee on Ways and Means Subcommittee on Social Security's current and future benefit expenditures.
"The risk of a product recall, and what that probability is, is almost impossible to answer, but I think the safest bet is everybody should plan for the potential product recall event," advises Actuary Kevin Bingham, who co-authored "Product Recall: Covering Your Bottom Line" in the March/April 2011 issue of the American Academy of Actuaries' bimonthly magazine, Contingencies.
American Academy of Actuaries pension experts addressed the risks inherent with retirement plan designs and the implications for retirement planning and public policy in this April 4, 2011, Capitol Hill Briefing, "Pension Risk and Your Retirement: Understanding Retirement Risk and Overcoming Challenges through Public Policy Options."
