001 - ASOP Updates
Three Actuarial Standards of Practice (ASOP) recently became effective:
- ASOP 27 – Selection of Economic Assumptions for Measure Pension Obligations, effective August 1, 2021;
- ASOP 32 – Social Insurance, effective September 2, 2021; and
- ASOP 35 – Selection of Demographic and Other Noneconomic Assumptions for Measuring Pension Obligations, effective August 1, 2021.
ASOP 38 – Catastrophe Modeling (for All Practice Areas) will become effective December 1, 2021. In addition, the new ASOP Setting Assumptions was released as the third exposure draft with an April 15, 2021 comment deadline and ASOP 4 – Measuring Pension Obligations and Determining Pension Plan Costs or Contributions was released as a third exposure draft with an October 15, 2021 comment deadline. Panelists at this session discuss the changes to these ASOPs and how those changes may affect your consulting practice.
David T. Kausch
Margaret Tiller Sherwood
Ms. Judy Koch Stromback