The ASB has released the report of its Pension Task Force (PTF), which began work more than a year and a half ago to consider the standards implications of many proposals for change related to public pension plans.

In December 2014, the PTF was formed to review input from interested stakeholders on actuarial standards of practice (ASOPs) regarding public pension plans, for the purpose of developing suggestions for the ASB’s consideration. This input included the responses to the ASB’s request for comments on ASOPs and Public Pension Plan Funding and Accounting, and testimony provided at the ASB’s July 2015 hearing on public pension plans.

After extensive discussion of the PTF’s suggestions, the ASB has directed its Pension Committee to draft appropriate proposed modifications, in accordance with ASB procedures. The proposed modifications would be applicable to both public and private-sector plans, and are part of a greater, ongoing effort by the ASB in recent years to strengthen pension-related ASOPs.

The ASB expresses its appreciation of the PTF’s dedicated work on this project.
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