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ARTICLE · 13 AUGUST 2014

Actuarial Standards Board Seeks Input On Public Pension Plan Work

Reinhart, Boerner, Van Deuren SC
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The Actuarial Standards Board has issued a request for comments regarding the standards governing actuarial work for public pension plans.

United StatesAccounting and Audit
Timothy Muth
Timothy Muth
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The Actuarial Standards Board (ASB) has issued a request for comments regarding the standards governing actuarial work for public pension plans.   Currently there are no standards specific to public pension plans, and guidance is provided by those standards of practice applicable to defined pension plans generally.

In its request for comments, the ASB noted the increased scrutiny of public pensions in recent years and several papers released by major actuarial organizations and others related to public pension plan funding.  As a result the ASB plans a "comprehensive review" of actuarial standards regarding their application to public plans.

The ASB requested comments on these topics:

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