The presenters provide a brief overview of existing Actuarial Standards of Practice that apply to pension actuaries focusing on recent changes, the effective dates for those changes and the current disclosure requirements. There also is a discussion of updates to existing standards that are currently under consideration as well as potential new standards that may impact pension actuaries.

The presenters also address the role of standards in actuarial practice; why the standards should matter to pension actuaries; how standards fit into generally accepted actuarial principles and practices; the level of prescription in ASOPs; who does the actuary serve when engaged to provide actuarial services; and to what extent do the standards serve the public interest, including those of clients, regulators and legislators. (This session is based on the 2014 EA Meeting General Session 001 and JBEA credit may not be applicable for attendees of that session.)

Speakers