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ASEA Monthly
I’m grateful to have this opportunity to share a bit about the ASEA leadership in 2024 and our goals for the year.
The leadership consists of Angie Vadnais and David Kupstas as President and Executive Vice President, respectively. These folks should be household names within actuarial circles....
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How was your March 15? How is your April 15 going? Are you looking forward to a break in deadlines as the weather gets nicer? My answers are wild, even wilder, and most definitely.
When we last left off, I wrote about the then-upcoming ASEA Actuarial Insights (virtual) Conference. I attended said...
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There was palpable excitement over the internet last month when the ASEA Google Group found out the 2024 ASEA Advanced Actuarial Symposium will be set in Kansas City, MO. It was like we were all experiencing Taylor Swift fever, but for an actuarial conference instead of Taylor Swift.
In the...
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Editor's Note: Talk about viral! Avi Wisotsky, ACAS, was generous enough to let us publish the following. This post on social media had a ton of engagement and lots of feedback. We've love to hear what you think.
Many people say actuaries price insurance or calculate how long people will live....
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More than 900,000 participants of terminated plans were receiving benefits from the Pension Benefit Guaranty Corporation (PBGC) by the end of fiscal year (FY) 2023, says the agency in its FY 2023 annual report.
The Fiscal Year 2023 Annual Report of the Pension Benefit Guaranty Corporation (PBGC)—...
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When participants earn benefits in a defined benefit plan (DB plan), they can also earn the permanent legal right to receive those benefits in the future. This can occur after a participant reaches certain milestones, such as attaining a certain age, or working for a specified number of years. This...
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We see it happen on a regular basis. Usually as the result of a miscommunication, a retirement plan sponsor makes an erroneous contribution to the plan. This can cause unintended and unwanted consequences, often including nondeductible and/or disallowed amounts. What can be done?
Contributions to...
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Recently I sat down to write my speech for a humorous speech contest I had entered, and realized that I’m not that funny. But I entered the contest because I thought it would be good practice. “Practice for what?” you may be wondering. Presenting at an Actuarial Conference, of course…!
A few...
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As I sit down to pen this bittersweet farewell letter, I find myself caught in a whirlwind of emotions.
A decade ago, I walked through the doors of (then) ASPPA as the Government Affairs and ACOPA Coordinator, all bright-eyed and bushy tailed, embarking on a professional journey that would shape...
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Happy mid-December, all. Hope your Holiday Season is full of mirth!
I signed up for the 2024 virtual ASEA Actuarial Insights conference in January. Typically, I prefer in-person conferences and sit in one of the front rows to stop myself from checking work emails. But the agenda included topics I...
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The American Retirement Association, on behalf of its five retirement industry associations, regularly engages with Federal and State regulators through correspondence on regulatory projects that impact our membership. This engagement enables ARA to detail its policy positions to the regulators and...
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The last time I wrote for ASEA Monthly, I weaved an intricate tale of the House of Dragons TV series and its relation to our actuarial responsibilities, nay, duties to receive continuing education in the topics of ethics and bias.
This time, my mission is easier: mortality table updates! It's...
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Do you ever feel totally exhausted after the ASPPA Annual? I told the office staff it was an ASPPA hangover! As we look back at the conference, the amount of material discussed quickly is incredible.
Amongst the sessions, we have the Annual ASEA Business Meeting. The meeting allows members to...
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As I engaged in a discussion on the ASEA Google Group regarding the eligibility of a foreign employee with Optional Practical Training (OPT) on an F1 student visa, Alan Stone, the editor of the ASEA Monthly, invited me to write an article to share my experience on getting a job as an international...
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You have been instructed to terminate a defined benefit plan and a 401(k) plan as soon as possible. The DB plan is not covered by the Pension Benefit Guaranty Corporation (PBGC), and there are no safe-harbor contributions under the 401(k) plan, so you prepare the paperwork with today as the date of...
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It has been nearly a year since Congress passed the SECURE 2.0 Act. As the name of the bill suggests, that law was the second significant retirement savings policy bill enacted in the span of five years.
A year later, while most practitioners and retirement plan sponsors are focused on the...
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As we make our way through November and into December, this is truly my favorite time of the year. I refer not to Thanksgiving and Christmas/Hannukah, but to 2023 Contribution Estimates Season.
I enjoy being able to provide guidance during this slower time of the year, as opposed to April or...
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Pension actuaries and professionals working with defined benefit plans face a unique set of challenges when it comes to meeting the Oct. 15 deadline.
This date is pivotal for annual filings and compliance. It’s important to be prepared with strategies to help minimize the stress that can come...
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Ever since I became a member of ASEA in 2012 (then ACOPA), I have been struck by the willingness of members to help each other navigate problems—in particular, how so many of the recognized experts go out of their way to help the newer actuaries.
I remember a time shortly after I became enrolled...
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Oct. 15 has finally passed. A day even spookier than Halloween! Which explains all the treats in the kitchen area at work for those hard at work on their 5500s.
Let’s take a flashback to our May issue in which Tiffany Myers, Manager, Actuarial Services at the Cash Balance Center of Excellence,...
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