Actuarial Matters

Pension Review Board Staff on August 4, 2022

Texas Pension Review Board

Minimum Educational Training Program

This course explores concepts central to actuarial science to provide an understanding of the role of actuaries in pensions and the importance of actuarial science to the future health of the pension plan.

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Pension Funding Basics

Introduction
Pension Financing Basics
Pay-as-You-Go
Pre-funding
Cost vs. Cost Estimates

Actuarial Reporting and Methodologies

Actuarial Reporting
Actuarial Valuation
Valuation Process
Calculating Pension Obligations
Actuarial Cost Methods
Assets and Asset Smoothing
Actuarial Liabilities and Surplus
Contributions 
Amortization Policy

Actuarial Assumptions

Actuarial Assumptions
Types of Assumptions
Monitoring Assumptions

Funding Policies and Financial Health Measures

Funding Policy
Core Components of a Funding Policy 
Funding Soundness Restoration Plan
Tying it All Together
Sample Actuarial Evaluation for a Fixed Rate Plan
Reviewing an Actuarial Valuation
Helpful Links
Final Quiz
Course Survey