A pension actuary specializes in the design, valuation, and management of pension plans. Pension actuaries can work in a variety of areas. Some examples include:
Plan design: Pension actuaries help employers create and modify pension plans that suit their objectives, budget, and workforce characteristics. They advise on the types of benefits, eligibility criteria, contribution rates, vesting rules, and other plan features. SC International frequently has opportunities for Individuals looking for DB Plan Valuation positions. (1).
Plan valuation: Pension actuaries calculate the present value of the future benefits and obligations of a pension plan, using actuarial assumptions and methods. They also estimate the expected return on the plan assets and the funding status of the plan.
Plan administration: Pension actuaries perform various tasks related to the operation and maintenance of a pension plan, such as preparing annual reports, conducting audits, processing benefit payments, and communicating with plan participants and regulators. SC International currently has opening for Pension Actuarial Managers. (2)
Plan consulting: Pension actuaries provide expert advice and guidance to employers, plan sponsors, trustees, and other stakeholders on various issues related to pension plans, such as plan design, funding, investment, risk management, mergers and acquisitions, and plan termination. See if any of these great opportunities are a fit for you. (2)
Pension actuaries play a vital role in ensuring the financial security and sustainability of pension plans. They communicate their findings and recommendations to various audiences, such as clients, managers, regulators, and the public. Pension actuaries are highly qualified professionals who adhere to high ethical standards. (3)