This educational note is intended to assist actuaries in the selection of appropriate assumptions regarding expenses in funding valuations of pension plans.
An educational note on this subject was originally published in January 2007 and updated in September 2014 to conform to the pension-specific Standards of Practice effective February 1, 2014. This educational note has been updated in 2023 to reflect changes in actuarial practice and to conform to the Standards of Practice effective December 1, 2022.