ASB Approves Third Exposure Draft of ASOP No. 4

Link: http://www.actuarialstandardsboard.org/email/2021/ActuarialStandardsBoard-aug-9-2021.html

Excerpt:

The Actuarial Standards Board of the American Academy of Actuaries recently approved a third exposure draft of a proposed revision of Actuarial Standard of Practice (ASOP) No. 4, Measuring Pension Obligations and Determining Pension Plan Costs or Contributions. The standard provides guidance to actuaries when performing actuarial services with respect to measuring obligations under a defined benefit pension plan and determining periodic costs or actuarially determined contributions for such plans. The standard addresses broader measurement issues, including cost allocation procedures and contribution allocation procedures. The standard also provides guidance for coordinating and integrating all of the elements of an actuarial valuation of a pension plan.

The comment deadline for the third exposure draft is Oct. 15, 2021. Information on how to submit comments can be found in the exposure draft.

Link to draft: http://www.actuarialstandardsboard.org/asops/measuring-pension-obligations-and-determining-pension-plan-costs-or-contributions-third-exposure-draft/

Publication Date: 9 August 2021

Publication Site: Actuarial Standards Board

Morning with Meep – ASOP 56 – Modeling

Description:

I take a look at the Actuarial Standard of Practice 56: Modeling — in effect as of October 2020.

Links: Keep Up With the Standards: On ASOP 56, Modeling

https://www.soa.org/sections/modeling/modeling-newsletter/2021/april/mp-2021-04-campbell/

ASOP 56: Modeling

http://www.actuarialstandardsboard.org/asops/modeling-3/

Author(s): Mary Pat Campbell

Publication Date: 3 May 2021

Publication Site: Meep’s Math Matters at Youtube

Actuarial Standards Board 2020 Annual Report

Link: http://www.actuarialstandardsboard.org/wp-content/uploads/2021/03/asb2020Annual.pdf

Excerpt:

The Pension Committee, chaired by David Kausch, continued work on ASOP No. 27,
Selection of Economic Assumptions for Measuring Pension Obligations, and ASOP No. 35,
Selection of Demographic and Other Noneconomic Assumptions for Measuring Pension
Obligations. The ASB adopted both revisions in June.


The Pension Committee also continued its work on ASOP No. 4, Measuring Pension
Obligations and Determining Pension Plan Costs or Contributions.

Date Accessed: 27 March 2021

Publication Site: Actuarial Standards Board