Pension Valuation Reporting and Disclosures

Single-employer, multiemployer and multiple employer.
Accounting under SFFAS 5/33, GASB 67/68, ASC 715, IAS 19.
Funding under ERISA and various State/Local Statutes.
Experience with ProVal and building valuations in MS Excel.

As an actuarial consultant, we can perform full valuations start-to-finish, delivering sleek, transparent reports for our clients. As a collaborative teaming partner, we can own a full valuation or slot into a traditional do/check/review model as needed.

Other Post-Employment Benefits (“OPEB”) Valuation Reporting and Disclosures

Accounting under GASB 74/75 and ASC 715.
Funding under various State prefunding policies.
Experience with ProVal, proprietary valuation system and building valuations in MS Excel.

Similar to pension, Athena has experience performing full OPEB valuations and can perform all or part of the valuation cycle, including healthcare claims analysis.

Experience Study

Private sector, public sector, and Federal entities.
Pension and OPEB.
Covers full scope of actuarial assumptions, including: mortality, retirement incidence, termination incidence, disability incidence, form of payment election, spousal assumptions, election rate (OPEB), lapse rate (OPEB).
Creative approaches for studying DROP and other unique plan provisions.

As a member of the RPEC mortality committee, Principal Adrienne Ostroff stays up-to-date on the latest trends in mortality, and relies on industry-leading approaches to blending historical experience and anticipated future behavior for economic and demographic assumptions.

Pension and OPEB Replication

Upon receipt of data, plan provisions, test cases, and prior actuarial valuation report, can perform full replication within 2-5%.

Athena can perform a full replication as part of a full actuarial audit or as the basis for a match valuation. Our programming is streamlined and delivered alongside a full documentation of the plan provisions and assumptions.

Medical and Rx Rate-Setting

Analysis of historical claims experience to use as basis for rate-setting, with adjustments for trend, rebates, administrative fees, reserves, and other unique plan and industry features.

By staying up-to-date on the most recent healthcare reform, our clients can feel confident that their rate-setting process takes into account industry trends with a full disclosure of adjustments with supporting rationale.

Actuarial Data Review

Prepare full reconciliation between two data sources, including documented analysis in ASOP compliant actuarial communication.

Data is our specialty; we deliver our reconciliations with a comprehensive communication of our findings.

Cost or Budget Projections

Build financial projections in MS Excel or ProVal PS.

Still making decisions on a hunch? We can work with our clients to understand their KPIs and deliver an interactive tool which supports live changes to assumptions, future investment performance, and more.

Pension or OPEB Data Visualization

Prepare data visualization dashboard in Tableau to illustrate shifts in population over time.
Develop predictive modeling component of data and illustrate on dashboard.

Take your actuarial results to the next level by visualizing your results in an eye-catching dashboard, or even use your recent experience to predict future behavior with our predictive analytics capabilities.

Audit Support

Perform tasks required for audit support or actuarial review support for public and private sector pension and/or OPEB.
Detail-oriented approach, relying on historical actuarial experience and knowledge of ASOPs.

Whether performing a formal audit or an independent actuarial review, we can provide the objective, comprehensive perspective that is required for these engagements.

Funding Study

Understand plan sponsor’s funding goals and statutory limitations.
Prepare scenario analysis to support viability of funding method.

Plan sponsors are having to make difficult decisions in a financially constrained environment; Athena can evaluate a creative set of funding options and work collaboratively to identify the one which aligns with funding goals.


Data Cleansing

Use analytical methods to identify gaps within datasets.
Propose assumptions where necessary.
Deliver cleansed dataset for analysis or reporting purposes.

Athena can leverage the data cleansing skills developed for purposes of actuarial work and apply to other types of datasets.

Data Visualization

Deploy proprietary methodology for identifying key decision-making metrics.
Build model in digestible and actionable format.
Train users on data visualization dashboards.

After a full consult to understand the goals of the decision-makers, Athena can develop Tableau dashboards which assist in day-to-day decision making.

Predictive Analytics

Deploy proprietary methodology for predicting key target variables using available data.
Deliver model with associated ASOP compliant report for users to maintain, or maintain and deliver metrics upon request.

Athena utilizes R to develop predictive model and delivers in a user-friendly format alongside a comprehensive report describing inputs, outputs and controls.

Model Building and Governance

Develop model and build governance process for ongoing support.
Model can be as simple or robust as the task requires.

Athena can start a new model from scratch, or assess the viability of a current in-use model to deliver recommendations for model modifications, governance, and controls.


Benefit Calculation Review

Sample calculations and validate effectiveness of benefit administration system or as part of audit support.

Identified benefit calculation errors? Athena can set up a testing calculator based on the defined plan provisions and summarize the estimated quantity and magnitude of the benefit calculations errors.

Benefit Calculation Process Engineering

Assess benefit calculation process and recommend process improvements.

We rely on our experience with large benefit administrators and a set of stakeholder interviews to outline your current-state process, and the future-state process that you should strive for.