The ASB recently approved exposure drafts of revisions of ASOP Nos. 4, Measuring Pension Obligations and Determining Pension Plan Costs or Contributions; 27, Selection of Economic Assumptions for Measuring Pension Obligations; and 35, Selection of Demographic and Other Noneconomic Assumptions for Measuring Pension Obligations. The revisions are based on suggestions from the Pension Task Force report issued in 2016 as a result of comments received on a 2014 Request for Comments on ASOPs and Public Pension Plan Funding and Accounting as well as a subsequent 2015 public hearing held on proposed ASOPs applicable to actuarial work regarding public plans. The ASB directed its Pension Committee to draft appropriate modifications to pension ASOPs to implement the Pension Task Force suggestions. The modifications are reflected in the exposure drafts of ASOP Nos. 4, 27, and 35. The comment deadline for the exposure drafts is July 31, 2018. Information on how to submit comments can be found in the drafts, which can be viewed under the “Drafts” tab in “Current Exposure Drafts.”
