U.S. Public Pension Actuary (retiree medical)

2 sequenced courses

RET 101
Retirement Plan Design ▼
  • Benefit Plan Structure, Features and Investments: The candidate will understand how to analyze different types of retirement plans and retirement plan investments.
  • Participant Risks: The candidate will understand how to analyze the risks faced by retirees and the participants of retirement plans.
  • Sponsor Risks: The candidate will understand how to analyze the risks faced by sponsors of retirement plans.
  • Benefit Plan Design Recommendation: The candidate will understand how to evaluate sponsors’ goals for the retirement plan, evaluate alternative plan types and features, and recommend a plan design appropriate to address those goals.
RET 201
Retirement Plan Valuation ▼
  • Assumes knowledge from RET 101
  • Methods: The candidate will understand how to apply/synthesize the methods used to value pension benefits for various purposes.
  • Actuarial Assumptions: The candidate will understand how to analyze/synthesize the factors that go into selection of actuarial assumptions used in pension valuations.
  • Accounting Standards: The candidate will understand how to perform valuations and prepare disclosure information for retirement income plans under applicable accounting standards.
  • Investment Risk Management: The candidate will recognize and appropriately reflect the role of retirement plan investments in managing plan sponsor risk and make recommendations.
  • Funding Policy: The candidate will understand the general principles applicable to the funding of retirement income plans and recommend a funding policy.

2 additional courses

INV 101
Portfolio Management ▼
  • The candidate will understand portfolio management objectives in the context of institutional liabilities.
  • The candidate will understand the nature and the variety of asset classes that can be used in constructing a portfolio.
  • The candidate will understand portfolio construction and assessment.
  • The candidate will understand the best practices of investment risk management.
CP 321
Disability, Long-Term Care, and Long-Duration Health Contracts ▼
  • Plan & Product Provisions: The candidate will understand how to describe benefits typically offered under long-duration contracts (disability income, long-term care, critical illness, Medicare Supplement).
  • Manual Rating: The candidate will understand how to calculate rates for each of the contracts described in Learning Objective 1.
  • Reserving: The candidate will understand how to apply valuation principles for long-duration contracts.
  • Financial Statements: The candidate will understand how to prepare and interpret insurance company financial statements for long duration contracts.
  • Retiree Group Benefits: The candidate will understand how to design and perform valuations of Retiree Group Benefits.
  • Asset Adequacy: The candidate will understand how to apply asset matching and asset adequacy standards as they apply to long duration contracts.