"Rather than prescribe a detailed risk assessment process, the ASOP should clarify that the actuary should be able to focus on a few representative risks. For such representative risks, possibly in combination, the actuary might illustrate the volatility of future contributions, and possible trends in plan solvency levels. Actuarial judgment (which includes the actuary's assessment of the Principal's needs) should be used to determine whether the risk assessment should be made by assuming these events occur at the valuation date or whether longer periods of time should be use."  MORE >>