Tom Lowman Addresses Pension Risk During February 28 Webinar

By Melissa Greeson April 2nd, 2018

Bolton’s Chief Actuary, Tom Lowman, recently discussed how a new actuarial practice standard addressing pension risk affects his practice advising public pension plan sponsors during a February 28, 2018 webinar sponsored by the Conference of Consulting Actuaries. The 2017 release of Actuarial Standard of Practice (ASOP) No. 50, Assessment and Disclosure of Risk Associated with Measuring Pension Obligations and Determining Pension Plan Contributions, places additional responsibilities on actuaries to help the plan sponsors understand the risks associated with sponsoring a defined benefit plan. Lowman, who also serves as the Chair of the Public Pension Plan Committee of the American Academy of Actuaries, was tapped for the panel to talk about how this new guidance affects his practice. According to Lowman “disclosure of risk is an important part of an actuary’s job and by adding it to our professional standards will both ensure that all clients better understand the risks involved with their plans and help in the development of models to help explain those risks.”