Actuaries and the Public Pension Crisis

Professor Joshua Rauh moderated a webinar on the public pension crisis that covered many bases and is well worth watching all the way through:
.

.
but for those interested in the role actuaries play here are some excerpts:

Sean McShea, President of Ryan Labs starts off criticizing smoothing methods and Richard Ravitch ends with this perceptive observation:

being an employee they do not, as accountants do or as lawyers do, have any independent fiduciary obligation to society as a whole.

.

.
David Crane, Lecturer in Public Policy at Stanford offers a suggestion:
.

.
A suggestion that I brought up at an Enrolled Actuaries seminar a couple of years ago to a lukewarm reception:
.

One response to this post.

  1. good post and also good site.

    Reply

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: