SOA Forms Blue Ribbon Panel to Explore Causes of Underfunding in Public Pension Plans
To help further the dialogue on issues related to public pension plans, the Society of Actuaries has commissioned a multidisciplinary blue ribbon panel to consider the causes of underfunding in public pension plans and make recommendations as to how governments can more securely fund plans going forward.
The panel, which began its work this week, is charged to:
The panel is also asked to identify the best use of actuarial methods and assumptions in funding plans and address how the profession can best support actuaries (through education, research, and professional standards) in their work with public sector pension plans.
According to Tonya B. Manning, SOA President, the panel members bring a diverse set of backgrounds and expertise. “The panel includes actuaries, economists and government experts who, I am confident, will be able to provide thoughtful insight and recommendations,” she said. She said that the panel will seek input from public plan actuaries and other key constituencies over the course of its work. She noted that this effort only concerns U.S. public pension plans.
The panel has been asked to produce a draft report by the end of 2013.
Members of the panel are:
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