Actuary Group Seeks Pension Plan Accounting Valuation

October 7, 2008 (PLANSPONSOR.com) - The Washington, D.C.-based American Academy of Actuaries' board of directors has asked the Actuarial Standards Board to develop standards for consistently measuring the economic value of pension plan assets and liabilities.

A news release said the board also has decided not to take a public position on the pension asset question.

The board received a report by the Academy’s Public Interest Committee, which the news release said had determined that disclosure of consistent pension asset valuation measures is in the public’s interest.  

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According to the news announcement, the Academy will appoint a Public Plan Practices Task Force to explore public pension plan issues.

Public comments gathered by the Public Interest Committee as part of its information-gathering process are available at http://actuary.org/events/2008/forum_statements.asp .

The Public Interest committee’s report is available at http://www.actuary.org/pdf/pic/publicplans.pdf .

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