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"Economic assumptions covered by ASOP 27 include the investment return, discount rate, inflation, postemployment benefit increases, compensation increases, and any other related assumptions. The general process that must be followed by the actuary in developing economic assumptions is: (a) identify the components of the assumption, (b) evaluate the relevant data, (c) consider factors specific to the measurement and other general factors, and (d) select a reasonable assumption. Relevant data could include both recent and long-term historical data, but undue weight is not to be given to recent experience. Adjustments may be made to allow for the chance of an adverse deviation or if there are plan provisions that are hard to value."

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