Federal Actu

Working G

Sympo

Part I: May 24, 
Welcome• Purpose of today’s meeting• Our presenters today represent the follo

agencies:

– Social Security Administration (SSA)– Centers for Medicare & Medicaid Serv

(CMS)

– Pension Benefit Guaranty Corporation – Internal Revenue Service (IRS)– Department of Labor (DOL)
Social Security Administra

(SSA)

Steve Goss

Chief Actuary

Karen Glenn

Deputy Chief Actuary
SSA’s Programs

SSA administers three programs Social Security Act: • Old-Age and Survivors Insurance 

Established in 1935, the OASI program retirement and survivors benefits to quworkers and their family members. 

• Disability Insurance (DI): Establish

the DI program provides benefits for wbecome disabled and for their families. 

• Supplemental Security Income (S

Established in 1972, the SSI program prfinancial support to aged, blind, and disand children who have limited income aresources. 
A Few Stats...

• In 2023, an average of 67 million Am

will receive a Social Security benefit month, totaling over one trillion dolbenefits paid during the year

• Nearly nine out of ten people age 65 

were receiving a Social Security benDecember 31, 2022

• About 90 percent of workers aged 2

covered employment (and their famprotection in the event of a severe anprolonged disability

• An estimated 183 million workers w

OASDI-covered employment in 202
Office of the Chief Actuary (OOrganization Chart

Chief Actuary

Deputy Chief Actuary, 

Long-Range Actuarial 

Estimates

16 Actuaries

7 Economists

Deputy Chi

Short-Rang

Estim

19 Actuar

1 Execu

Officer/A

1 Econo

3 Suppor

As of May 2023: 49 total employees, 
OCACT’s Main Work Produc• Evaluate financial status of OASDI and 

– Project future population, workforce, emplo

revenue, benefits, and (for OASDI) the statfunds 

• Projections for annual OASDI Trustees 

– Board of Trustees: Treasury, HHS, DOL, SS

• Projections for annual SSI Report • Projections for the President’s FY Budg

Midsession Review

• Estimate effects of all changes consider

and regulations by the Administration Congress
Putting OCACT’s Work in Co• For Social Security, projections under c

are crucial to indicate when and to whachanges will be needed to maintain “so

• For OASDI and SSI, important to know 

will become in the future, near-term doterm share of GDP and taxable earning

• We also provide technical and consulta

to the Commissioner and to the Social Board of Trustees

• The Chief Actuary appears before Cong

committees to provide expert testimonactuarial aspects of Social Security issu
For More Information Go to http://www.ssa.gov/oact/There you will find:• Current and all prior OASDI Trustees Repo

detailed single-year tables

• Current and all prior SSI Annual Reports• Estimates for comprehensive proposals and 

provisions

• Actuarial notes and actuarial studies• Extensive databases• Congressional testimonies• Presentations by OCACT employees
Centers for Medicare & Med

Services

Paul Spitalnic

Chief Actuary
CMS OACT MissionThe Office of the Actuary provideimpartial, and authoritative actueconomic, and statistical estimatanalysis of health care financing expenditures.
Organization of Actuarial Sta

Chief Actuary

Medicare & 

Medicaid Cost 

Estimates

41 Actuaries

1 Other Staff

Parts C&D 

Actuarial 

Group

21 Actuaries

4 Other Staff

Nation

Health 

Statisti

0 Ac

24 Ot

2 Actuar

4 Other S

Total: 64 actuaries and 33 other staff
Medicare & Medicaid Cost E• FFS Medicare, Medicaid, & Marketplace

– Budget Estimates– Cost Estimates for Legislation, Regulat– Medicare Trustees Report– Medicaid Actuarial Report– Program Rates– Innovation Center Support– Medicaid Rate Reviews– Data Analysis
Parts C&D Actuarial Group• Medicare Advantage and Prescription Dru

– Program Rates– Medicare Advantage Rate Reviews– Prescription Drug Rate Reviews– Medicare Trustees Report, Budget Esti– Cost Estimates for Legislation, Regulat– Drug Price Negotiation
National Health Statistics Gr• National Health Care Spending

– Historical National Health Care Spend– National Health Care Spending Project

• Other Projects

– Medicare Payment Rate Increases– Long-term Health Care Cost Modeling– Research Projects
CMS Office of the Actuary• Staff are generally on teams for the main p

have some individual assignments. 

– Flat structure. Staff can get pulled into 

projects or across groups as needed

• External parties include: 

– OMB and HHS on Budget– Trustees Working Group on Trustees R– States on Medicaid policies and rate re– Health plans on Medicare rate reviews– Treasury on Marketplace estimates– Congress on legislative support

• https://www.cms.gov/research-statistics-d

systems/research/actuarialstudies
Pension Benefit Guaranty Corpo

(PBGC)

Scott Young, FSA, EA, MAAA

Actuarial Services and Technology Departm

Jim Donofrio, FSA, EA, MAAA

Negotiations and Restructuring Actuarial Dep

Ted Goldman, FSA, EA, MAAA, FCA

Policy, Research, and Analysis Departme
PBGC Highlights• Guarantees pension benefits for over 33 m

American workers and retirees

– Single-employer Defined Benefit Pensi– Multiemployer Defined Benefit Pension 

• Established by Employee Retirement Incom

Act of 1974 (ERISA)

• Agency Strategic Goals

– Preserve Plans and Protect Pensions– Pay Pension Benefits on Time and Accu– Maintain High Standards of Stewardsh
PBGC News

• Special Financial Assistance Program

– American Rescue Plan (ARP) Act of 20– Provides Assistance to Financially Trou

Multiemployer Pension Plans

• Actuarial Reports

– Annual Report (mid-November)– Projections Report (Summer)

• Best Place to Work in Government

– https://www.washingtonpost.com/busines

/pbgc-top-workplaces-pension-plans/

– https://www.washingtonpost.com/busines

2023/top-workplaces-federalgovernment/?itid=lk_inline_manual_28 
Office of the 

Director

Office of Benefits 

Administration

Actuarial Services and 

Technology 

Department

Participant Services 

Department

Plan Asset and Data 

Management Department

Office of Negotiations and 

Restructuring

Corporate Finance & 

Restructuring Department

Negotiations and 

Restructuring 

Actuarial Department

Plan Compliance 

Department

Office of Policy 

External Affai

Communicat

& Legislat

Depar

Policy Re

Analysis D

Office of CFO; Office of General CounselOffice of Information TecOffice of Management an
• Approximately 60 Actuaries – 8 

credentialed with several pursudesignations

• Benefit Calculations and Actuar

Valuations for Terminated SingPension Plans Trusteed by PBG

• Quarterly Actuarial Valuations f

Financial Reporting

• Experience Studies for Purpose

Assumptions for Actuarial Valu

• Actuarial Support for Benefits 

Administration

Office of Benefits 

Administration

Actuarial 

Services and 

Technology 

Department

Participant 

Services 

Department

Plan Asset and 

Data 

Management 

Department
• Approximately 25 Actuaries – 2

credentialed

• Actuarial Analysis for Single-Em

Pension Plans to Determine Unand Required Contributions

• Monitor Financial Condition of 

Multiemployer Plans

• Actuarial Review of Application

Financial Assistance

Office of 

Negotiation & 

Restructuring

Negotiations & 

Restructuring 

Actuarial 

Department

Corporate 

Finance & 

Restructuring 

Department

Plan Compliance 

Department
• Approximately 14 Actuaries – 10 

credentialed

• Conducts Policy Analysis and R

Related to Pensions and Retirem

• Analysis of Policies Using Actua

Techniques

• Provides Actuarial and Econom

in the Area of Retirement Laws, and Practices

• Develops and Maintains Relatio

Academic, Professional, and StaCommunities

Office of Policy & 

External Affairs

Policy Research & 

Analysis 

Department

Communications 

Outreach & 

Legislative Affairs 

Department
Internal Revenue Servic

Christopher Denning

Actuary
Organization of Actuarial Sta

IRS 

Commissioner

Tax Exempt & 

Government Entities 

(TE/GE)

15 Actuaries

Large Busi

Internationa

7 Actu
IRS Employee Plans – Policy Actuaries in TE/GE• Analyze and issue rulings related to the req

under the Employee Retirement Income S1974 (ERISA) for single employer and mulpension plans.

• Common examples:

– Change in funding methods– Certain changes in assumptions– Use of substitute mortality tables– Amortization extensions

• Assistance to chief counsel on requests for 

waivers

• Assist in drafting and reviewing regulation

rulings, revenue procedures, notices and announcements.

• Works closely with Chief Counsel, Departm

Treasury, PBGC and Department of Labor
IRS Employee Plans – Field Actuaries in TE/GE• Assist with retirement plan examinations a

related meetings with pension plan represeReviews include:

– Nondiscrimination testing– 415 limitations– Required minimum distributions

• Assist with field agents' technical advice re• Support revenue agents who work on deter

letter applications by reviewing demonstradocuments and answering technical questi

• Provide actuarial support to revenue agent

on voluntary compliance submissions

• Have expertise in topics including fully ins

governmental plans, employee plans team multiemployer plans and PPA funding and restriction issues.
IRS Employee Plans –Estate Tax Actuaries in TE/GE• Prepares actuarial tables for the valuation 

interests and other equitable interests in tr

– These factors are issued in regulations 

publications. 

• Beyond the tables, we see a lot of complica

arrangements that require actuarial analys

– trusts for annuity and remainder intere– limited partnerships; – split-interest life insurance policies; an– intra-family loans. 

• Work with Chief Counsel attorneys in prep

guidance and rulings; 

• Assist the IRS attorneys in estate & gift tax • Assist litigation attorneys in IRS and Depa

Justice as expert witness at trial. 
Large Business & Internation(LB&I)• Analyzes complex actuarial problems and issue

law, IRS rulings, and court case decisions in detax liability under the Internal Revenue Code in areas including:

– The valuation of complex life and annuity, h

property and casualty insurance reserves;

– Considerations and tax implications in acqu

reorganizations, and liquidations of insuran

• Represents the Service in conferences with taxp

legal representatives, representatives of the insand actuarial consultants on proposed tax issueprocedures and problems of common interest, solutions to highly technical problems that aroswith issues that are not adequately covered by tregulations and revenue rulings.

• Conducts audit work and serves as a consultant 

concerning audit approaches, studies, and reserelating to actuarial methods used by the taxpa
Large Business & Internation

(LB&I)

• Serves as an expert witness in tax litigation cas

life, health, or property and casualty insurance 

• Provides insight and advice to upper levels of m

meetings with the Industry Director for the Finand the Health Care Industry, the Deputy Comthe Commissioner LB&I.

• Develops proposals for the appropriate tax trea

actuarial issues, develops regulations, develops material, writes position papers, and analyzes dissues.

• Acts as loss reserve specialist in the examinatio

health, or property and casualty insurance com

• Assists insurance examiners in performing bas

testing and performs independent analysis of lo
US Department of Labo

Chet Andrzejewski

Employee Benefits Security Administration (EBSA) Chi
Organization of Actuarial Sta

DOL

EBSA

EBSA Chief 

Actuary (1)

EBSA Health 

Actuaries (2)

# Other Staff 

(0)

OWCP

# Actuaries 

(2)

# Other Staff 

(0)

ETA/OUI

OUI Lea

Actuary 

(1-vacan

# Other St

(2)

EBSA = Employee Benefits Security AdministrationOWCP = Office of Workers’ Compensation ProgramsETA/OUI = Employment and Training AdministrationUnemployment Insurance
EBSA• Employee Retirement Income Security Act 

– Retirement, health, and other workplac

benefits of America’s workers and their 

– Work covers actuarial considerations in

• Development of regulations and gu• Enforcement of law and regulations• Support of the Secretary of Labor’s 

of the board of the PBGC

– Membership on the Joint Board for the 

of Actuaries

– Works on ERISA benefits in collaborat

Treasury, IRS, PBGC, HHS, state insurcommissions, and FBI

– EBSA web site: https://www.dol.gov/a

– Form 5500 data on benefit plans:

• https://www.dol.gov/agencies/ebsa

topics/reporting-and-filing/form-5
OWCP

• Office of Workers’ Compensation Program

– Workers’ Compensation benefits for no

federal employees, nuclear weapons emlongshore harbor workers, and certain 

– Actuarial work products

• Estimated liability for future paym

reported in the DOL financial reporeach federal agency

• Statement of Social Insurance (SOS

for the Black Lung Disability Trust 

• Assist with regulation and oversigh

insured coal mine operators

– Liability estimates developed with inpu

OMB, EIA, Treasury, DOD, SSA

– OWCP website: 

https://www.dol.gov/agencies/owcp
ETA/OUI• Unemployment Insurance

– Temporary unemployment benefits for 

lost a job through no fault of their own

– Work covers actuarial considerations in

• Development of regulations and gu

State Workforce Agencies (SWAs)

• Development of Actuarial Liabilitie

Unemployment Trust Fund (UTF)

• Support and Training to SWAs on S

Financing

– References

• Office of Unemployment Insurance 

https://oui.doleta.gov/unemploy/
Other Significant Work• Support the Secretary of Labor’s role as tru

Social Security and Medicare Trust Funds 

• Tools for the public to prepare for retireme

– https://www.dol.gov/sites/dolgov/files/EBSA/about-eb

activities/resource-center/publications/savings-fitness

– https://www.dol.gov/sites/dolgov/files/EBSA/about-eb

activities/resource-center/publications/taking-the-mysretirement-planning.pdf

• Training investigators from the regional of• Significant UI Actuarial Unit Work:

– Unemployment Trust Fund Solvency M

and Reports

– UI Budgetary Estimates for the Admini

Annual Budget Submissions

– Statistical modeling of UI benefit exhau
Questions and Discu

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