On July 1, 2019, it was announced that the Actuarial Standards Board (ASB) approved second exposure drafts of revisions of Actuarial Standard of Practice (ASOP) No. 27, Selection of Economic Assumptions for Measuring Pension Obligations; and ASOP No. 35, Selection of Demographic and Other Noneconomic Assumptions for Measuring Pension Obligations.

In March 2018, the first exposure drafts of ASOP Nos. 27 and 35 were issued, and the ASB received 18 comment letters and 16 comment letters, respectively.  The comment letters received were considered in making the changes included in the second exposure drafts.  Some of the significant changes to ASOP Nos. 27 and 35 consist of clarifying the scopes and disclosure requirements of the ASOPs regarding assumptions not selected by the actuary.  In addition, several sections in both ASOPs were revised for clarity, consistency or readability.

The comment deadline for both second exposure drafts is September 15, 2019. 

The second exposure drafts for ASOP Nos. 27 and 35 are available here.