Pension plan sponsors of all types are keeping an eye on Nov. 1, when new actuarial standards on pension obligation risk assessment kick in. Officially known as Actuarial Standard of Practice No. 51, the new steps for assessing and disclosing risks associated with measuring pension obligations and determining pension contributions for all types of plans--public, corporate and multiemployer--will apply when actuaries perform a funding valuation of a pension plan or a pricing valuation for proposed plan changes that would significantly change the levels of risks.
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