Christopher M. Bone, FSA 1990, MAAA, EA

Principal, Edth Limited, LLC, Flemington, NJ

Brief description of the type of work you currently do:

Phasing into retirement with continued consulting and expert witness work. Previously led Aon Consulting US Retirement Practice supervising consultative and brokerage services in the areas of Defined Benefit Plan Consulting, Defined Contribution Plan Consulting, Tax and ERISA Consulting, Executive Benefits, Investment Consulting and Insurance Consulting operating from 26 US offices. Responsible for profit/loss, growth, personnel, quality and innovation for the 6 lines of business above. Served on Aon consulting US and global operating committees and chaired US Innovation Council.

Primary Area of Practice:

Retirement Systems

Other Areas of Practice / Interests:

Health and Welfare

Professional Background:

Retirement consultant specializing in the modeling, analysis and design of postretirement employee benefits (pensions, health and life insurance) primarily for large and complex organizations. Practice has included consulting for private and public sector employer and employee groups and has included consulting with federal regulators; with employee organizations; and with numerous private sector, not–for–profit and public–sector employers. Over the course of almost 15 years as Chief Actuary of Aon Consulting and its predecessor firms worked on Internal Revenue Code compliance and accounting issues and on proposed changes in the legislative and financial reporting areas. Appeared as an expert in public and private forums including testimony before Congressional and state legislative committees and in litigation regarding the design and operation of public and private sector pension plans.

Volunteer Experience:

Actively engaged in the Society of Actuaries as a volunteer in the retirement practice since the late 80's, including leading the Retirement Practice area. Helped the Society change and adapt its structure from one with competing Sections and Practices to one which accomplishes its work through Sections—as leader of the Task Force on Sections and Practices and then as a Strategic Planning Committee member, Board member and member of the Issues Advisory Council. Worked with major employers to influence the evolution of retirement systems' financial, legal and accounting framework.

Actuarial

Current Board and Committee memberships: Issues Advisory Committee vice–chair Previous Board of Governors (member) Task force on Sections and Practices (chair), Governance Audit Task Force(member), Strategic Planning Committee (member), Retirement Practice Advancement Committee (member and chair),Retirement Research Committee (member and chair), Research Coordination Committee (member), Social Insurance Committee (member). . . . Speaking Engagements: SOA, CCA and EA meetings including SOA 1st Teleconference (on OBRA87) and variousALI/ABA teleconferences in which the SOA is a co–sponsor Papers: "Building Better Retirement Income Models"with Olivia Mitchell NAAJ 1:1 (1997)

Other Professional:

Board memberships: Served on Boards of Advisory Board of the Pension Research Council, Board of Governors of the Employee Benefit Research Institute, APPWP (predecessor to ABC) Board, ASA (employer firm) Committees and Task Forces: ERIC Task Force on Interest Rates under OBRA 87 (chair), ERISA Industry Committee (ERIC) Retirement Security Committee National Research Council, Panel on Modeling Retirement Income (member)

Vision Statement:

Evolving demand for actuaries—mplications for career paths of members. This decade saw dramatic changes in the actuarial job market. Life actuary demand shrank as companies merged and grew again as new responsibilities emerged. Pension actuaries face current strong demand, but the look ahead is challenging. Health actuaries see immediate and long–term opportunities, but are in short supply. The Society has begun to credential a new generation of enterprise risk consultants. Technology and increasingly global standards further reshape worldwide demand. Based on my experience leading a practice that is a significant employer of actuaries, I believe these trends will only accelerate. These dramatic shifts in employment demand will require significant responses from members, as they reassess careers in a particular specialty. I believe the SOA has a responsibility to do what it can to increase demand and to ease transitions into new specialties for members and candidates. Under our strategic process, no one individual determines the SOA mission. But as a Vice President I will stand for and strongly support the following:

• Outreach to senior leaders at actuarial employers to discuss the development of additional actuarial specialties
• Outreach to academia on shifts in the fundamental sciences (economics, demography and actuarial science) and how they may shape new actuarial applications
• Outreach to other actuarial organizations that we, as an international organization, can help manage the transition to a global marketplace
• Continued outreach to government to educate on the critical role and value of actuaries