Announcement: SOA releases December 2022 Exam FM passing candidate numbers.

Estimating Equity Risk Premiums

Research Projects in Pension

The Society of Actuaries’ Pension Section is pleased to make available a research report exploring issues related to projecting future equity risk premiums. The report was authored by Victor Modugno.


Estimating Equity Risk Premiums Report

Thank You

The SOA’s Pension Section would like to thank the following individuals for their input on the project:

Gavin Benjamin, Chair
Thomas Anichini
Angelita Graham
Frank Grossman
Gang Ma
Kai Petersen
Nathan Worrell
Andrew Peterson, SOA Staff Fellow
Steven Siegel, SOA Research Actuary
Barbara Scott, SOA Research Administrator

Questions Or Comments?

If you have comments or questions, please send an email to