Actuarial Standard of Practice (ASOP) No. 56, Modeling, was released and went into effect October 1, 2020, and provides direction to actuaries in all practice areas when performing actuarial services that require modeling. ASOP No. 56 allows the actuary to use professional judgment to determine whether full application of the ASOP is necessary.
Defined benefit pension valuations and the application of ASOP No. 56, Modeling
ByKerry Forrester and Julie Smith
10 February 2021
Defined benefit pension valuations and the application of ASOP No. 56, Modeling