Administration October 8, 2008

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.
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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.  

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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