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Text of Letter from American Academy of Actuaries to Actuarial Standards Board on Coordinating ASOPs Involving Retirement Benefits (PDF)
Pension Committee, Joint Committee on Retiree Health, and Pension Finance Task Force of American Academy of Actuaries Link to more items from this source
[Opinion]
Nov. 6, 2013

"To effectively coordinate the two standards, we recommend the [Actuarial Standards Board (ASB)] look at the retirement benefit standards holistically, with detailed attention from both pension and [retiree group benefit (RGB)] specialists in drafting the concepts and language. The differences between the pension practice and the RGB practice (primarily retiree health benefits) need to be examined, with an understanding that below-standard work in any practice is a disservice to the public and our profession. Given the differences in pension and RGB practice, the ASB should review the process that placed the ASB Pension Committee in the position of editing an RGB ASOP."

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