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Old 02-15-2018, 01:57 PM
Double_Zero_Six Double_Zero_Six is offline
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Default CalPERS Pension Actuary Salaries

Do public pension actuaries make less than pension actuaries working on private pension plans? I was browsing through the CalPERS website and found the following salary information which seems very low.

SENIOR PENSION ACTUARY: $127,704-$159,867
https://jobs.ca.gov/CalHrPublic/Exam...x?examCD=4PABG

SUPERVISING PENSION ACTUARY: $134,712-$167,856
https://jobs.ca.gov/CalHrPublic/Exam...x?examCD=4PABF

These are positions that typically require 15+ years of experience and either ASA or FSA. According to the DW Simpson salary survey (even for pensions), they should be making north of $200k.
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Old 02-15-2018, 02:02 PM
nonlnear nonlnear is offline
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It may be low initially, but salary is projected to grow at no less than 7% per year.
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Old 02-15-2018, 02:15 PM
Double_Zero_Six Double_Zero_Six is offline
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Are you sure? Even glassdoor suggests a low salary.
https://www.glassdoor.com/Salary/Cal...3_D_KO8,30.htm
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Old 02-15-2018, 02:15 PM
nonlnear nonlnear is offline
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implied
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Old 02-15-2018, 02:16 PM
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Quote:
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It may be low initially, but salary is projected to grow at no less than 7% per year.
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Old 02-15-2018, 02:37 PM
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ShivamS ShivamS is offline
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It may be low initially, but salary is projected to grow at no less than 7% per year.
This is as frustrating and depressing as it is funny. And it's very funny.
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Old 02-15-2018, 02:48 PM
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Quote:
Originally Posted by Double_Zero_Six View Post
Do public pension actuaries make less than pension actuaries working on private pension plans? I was browsing through the CalPERS website and found the following salary information which seems very low.

SENIOR PENSION ACTUARY: $127,704-$159,867
https://jobs.ca.gov/CalHrPublic/Exam...x?examCD=4PABG

SUPERVISING PENSION ACTUARY: $134,712-$167,856
https://jobs.ca.gov/CalHrPublic/Exam...x?examCD=4PABF

These are positions that typically require 15+ years of experience and either ASA or FSA. According to the DW Simpson salary survey (even for pensions), they should be making north of $200k.
Actuaries working in a government, or semi-government, position earn less than their counterparts in the private sector. The nature of the work is irrelevant. So actuaries who consult for public pension plans earn as much as their counterparts who consult for private pension plans. Actuaries working for the IRS or PBGC (looking at private pension plans) and actuaries who work for other government agencies that work with public pension plans will earn less. It is called working for the government.
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Old 02-15-2018, 03:01 PM
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Quote:
Originally Posted by Kenny View Post
Actuaries working in a government, or semi-government, position earn less than their counterparts in the private sector. The nature of the work is irrelevant. So actuaries who consult for public pension plans earn as much as their counterparts who consult for private pension plans. Actuaries working for the IRS or PBGC (looking at private pension plans) and actuaries who work for other government agencies that work with public pension plans will earn less. It is called working for the government.
Most government jobs have pensions as a benefit as well, more so than private employers. If they are adequately funded is another question
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Old 02-15-2018, 03:16 PM
Westley Westley is offline
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Quote:
Originally Posted by Kenny View Post
It is called working for the government.


There are reasons to work for government - low stress, fewer hours, and better benefits are usually part of the deal. But high salary isn't usually one of them. In general or in an actuarial capacity.

Also, looking at their website, I couldn't see where 15+ years was stated or implied. Looks like it could potentially be a fair amount less.

Last edited by Westley; 02-15-2018 at 03:20 PM..
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Old 02-15-2018, 03:34 PM
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Tbh, I thought thouse numbers were high for a government job. I didn't expect to see 6-figures.
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