Recent class action lawsuits are targeting the reasonability of actuarial equivalence factors used in defined benefit plans.
Questions to Ask When Choosing an Actuary For Your Cash Balance Plan
Accurate administration of a Cash Balance Plan is critical! The following questions can help you when choosing an actuary for your cash balance plan.
What is an Actuary?
The Highly Ranked Profession that Almost No One Understands You know the scene. It happens at every party or barbecue you’ve ever attended. You meet someone new and chat for a while. Eventually the conversation runs dry so you turn to those tried and true small talk...
Defined Benefit plan actuaries use various assumptions to calculate a plan’s benefit liabilities for various purposes. One of the main assumptions employed is the rate of mortality for the plan’s population. The IRS requires specific mortality tables for some...
All the Boring Actuaries
According to Wikipedia, an Actuary is a business professional who deals with the financial impact of risk and uncertainty. Basically, actuaries are super smart individuals, with an unfair reputation for being super boring. But not all actuaries are boring. Did you...