Temple Roll Call
I am curious who of us is on the board - without giving away identity, can we state our area of concentration and location (and perhaps year of graduation)?
VA Hedging
Philadelphia
SBM '96
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Quote:
Originally Posted by Duffer
We, the actuarial profession, did several things badly.
1. Pandering - we marketed ourselves as finding clever ways to give the public pension sponsors something for nothing
2. Ignored consequences - we found clever ways to allow politicians to ignore the true costs of benefit increases, like negative amortization of losses
3. Low standards of measurement - GASB had the most simple-minded of standards, and is now only going half-way to raise the standard.
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09-12-2006, 01:19 PM
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