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GFOA Best Practice: Enhancing Reliability of Actuarial Valuations for Pension Plans
Government Finance Officers Association Link to more items from this source
Oct. 30, 2014
"Because actuarial information directly affects the funded level and sustainability of pension plans, the GFOA urges pension plan fiduciaries to take the following steps to obtain additional information that will enhance the reliability of their actuarial valuations: ... Engage the actuary to perform additional services, to validate the actuarial assumptions used for the valuation or to help the plan with risk management strategies and future trends forecasting. Such services include: ... [1] Actuarial Gain/Loss Analysis ... [2] Actuarial Experience Study ... [3] Actuarial Projections ... [4] Asset/Liability Study ... [5] Sensitivity Analysis ... [6] Analysis of Proposed Benefit Changes. In considering benefit changes, decision makers need to understand the potential cost implications of the changes before they are enacted."

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