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ASB Approves Exposure of ASOP No. 6 Revision

The ASB recently approved an exposure draft of revisions to ASOP No. 6, Measuring Retiree Group Benefits Obligations and Determining Retiree Group Benefits Plan Costs or Contributions. With ASOP No. 4, Measuring Pension Obligations and Determining Pension Plan Costs or Contributions, being an “umbrella” standard for pension plans parallel to the role that ASOP No. 6 serves for retiree group benefits plans, the ASB appointed a Retiree Group Benefits Subcommittee to the Pension Committee and tasked it with the responsibility for updating ASOP No. 6 and, where appropriate, making it consistent with ASOP No. 4. The proposed revision of ASOP No. 6 provides guidance to actuaries when performing professional services with respect to measuring obligations under a retiree group benefits plan and determining costs or contributions for such plans. The comment deadline for the draft is July 15, 2012, which can be viewed on the ASB website under the tab “Exposure Drafts” at:

http://www.actuarialstandardsboard.org.