FACACLASSIC

Note: An Annual Comprehensive Review, as required by §7 of the Federal Advisory Committee Act, is conducted each year on committee data entered for the previous fiscal year (referred to as the reporting year). The data for the reporting year is not considered verified until this review is complete and the data is moved to history for an agency/department. See the Data From Previous Years section at the bottom of this page for the committee’s historical, verified data.

Details on agency responses to committee recommendations can be found under the Performance Measures section for each committee in the fields “Agency Feedback” and “Agency Feedback Comment.”

RRB - 1229 - Actuarial Advisory Committee with respect to the Railroad Retirement Account - Statutory (Congress Created)

GENERAL INFORMATION

Committee Name	Actuarial Advisory Committee with respect to the Railroad Retirement Account	Agency Name	Railroad Retirement Board
Fiscal Year	2025	Committee Number	1229
Original Establishment Date	1/1/1975	Committee Status	Chartered
Actual Termination Date		Committee URL
Actual Merged Date		Presidential Appointments*	No
New Committee This FY	No	Max Number of Members*	3
Terminated This FY	No	Designated Fed Officer Position Title*	DFO
Merged This FY		Designated Federal Officer Prefix	Ms.
Current Charter Date	10/30/2024	Designated Federal Officer First Name*	Patricia
Date Of Renewal Charter	10/30/2026	Designated Federal Officer Middle Name	A
Projected Termination Date		Designated Federal Officer Last Name*	Pruitt
Exempt From Renewal*	No	Designated Federal Officer Suffix	FSA, MAAA
Specific Termination Authority		Designated Federal Officer Phone*	(312) 751-3392
Establishment Authority*	Statutory (Congress Created)	Designated Federal Officer Fax*	(312)-751-7129
Specific Establishment Authority*	45 U.S.C. 231n(f)	Designated Federal Officer Email*	pruitpa@rrb.gov
Effective Date Of Authority*	1/1/1975
Exempt From EO 13875 Discretionary Cmte	Not Applicable
Committee Type*	Continuing
Presidential*	No
Committee Function*	Other Committee

RECOMMENDATION/JUSTIFICATIONS

Agency Recommendation*	Continue
Legislation to Terminate Required	Not Applicable
Legislation Status	Not Applicable
How does cmte accomplish its purpose?*	The committee gives the agency's actuaries more opinions on which to base final decisions. It also increases the acceptance of the results of actuarial valuations by reason of the participation of railroad labor and management. The performance of the committee is measured by the meetings held, issues raised and resolutions reached.
How is membership balanced?*	The committee consists of three actuaries. Two are selected by the RRB, one of the two from recommendations made by representatives of railroad employees and the other from recommendations made by representatives of railroad employers. The third actuary is appointed by the Secretary of the Treasury. The committee is balanced in that labor, management and the public each have a representative.
How frequent & relevant are cmte mtgs?*	Meetings are held as necessary during the preparation of the actuarial valuation. Although the Charter filed on October 27, 2022, stated that there are usually four meetings over a three-year period, the committee has recently taken to having two or three meetings a year, on average. The number of meetings over a three-year period is now estimated to be eight, which is reflected in the Charter filed on October 30, 2024. This has no relevance to continuing the committee.
Why advice can't be obtained elsewhere?*	The recommendations of this committee can be obtained from other sources. The balance between labor, management and the public, however, would be difficult to obtain without a formal statutory committee.
Why close or partially close meetings?	Not applicable
Recommendation Remarks	The Railroad Retirement Board is not an "agency" within the definition of that term contained in the Federal Advisory Committee Act. The Railroad Retirement Board is voluntarily submitting this report, however.

PERFORMANCE MEASURES

Outcome Improvement To Health Or Safety*	No	Action Reorganize Priorities*	No
Outcome Trust In Government	Yes	Action Reallocate Resources	No
Outcome Major Policy Changes	No	Action Issued New Regulations	No
Outcome Advance In Scientific Research	No	Action Proposed Legislation	No
Outcome Effective Grant Making	No	Action Approved Grants Or Other Payments	No
Outcome Improved Service Delivery	No	Action Other	Yes
Outcome Increased Customer Satisfaction	Yes	Action Comment	The select demographic, economic, and employment assumptions used for the 29th Actuarial Valuation have been chosen as a result of the committee’s advice or recommendations.
Outcome Implement Laws/Reg Requirements	Yes	Grants Review*	No
Outcome Other	No	Number Of Grants Reviewed	0
Outcome Comment	NA	Number Of Grants Recommended	0
Cost Savings*	Unable to Determine	Dollar Value Of Grants Recommended	$0.00
Cost Savings Comment	While the Committee’s activities do not result in a direct cost savings, their review of actuarial methods and projections helps to ensure that such projections present a fair picture of the financial soundness of the railroad retirement system.	Grants Review Comment	NA
Number Of Recommendations*	711	Access Contact Designated Fed. Officer*	Yes
Number Of Recommendations Comment	The committee may make recommendations regarding the assumptions and methods used for projections. All the assumptions, including mortality, retirement, withdrawal, salary, family composition, employment, and economic assumptions, are reviewed by the committee in preparation for the triennial Actuarial Valuations. The committee approved all the assumptions proposed and discussed at the meetings held in conjunction with the preparation of the 29th Actuarial Valuation. A statement of the committee, setting forth their conclusions from their review of the valuation, is included in the valuation report. Committee recommendations and approvals are documented in the minutes of the committee meetings.	Access Agency Website	Yes
% of Recs Fully Implemented*	100.00%	Access Committee Website	No
% of Recs Fully Implemented Comment	NA	Access GSA FACA Website	Yes
% of Recs Partially Implemented*	0.00%	Access Publications	Yes
% of Recs Partially Implemented Comment	NA	Access Other	No
Agency Feedback*	Yes	Access Comment	The Actuarial Valuation contains the Committee’s statement regarding their review of the Valuation. Each triennial Actuarial Valuation includes the Statement of the Actuarial Advisory Committee at the beginning of the report. Members of the public can find the valuations at www.RRB.gov, in "Financial, Actuarial, and Statistical" under the "Financial & Reporting" tab. Meetings of the committee are open to the public and are announced in advance in the Federal Register. Members of the public can submit written statements or make oral presentations at the meetings.
Agency Feedback Comment*	The agency provides feedback through e-mails, memos, and reports to the members of the committee. The public can review valuations and annual reports, including the Statement of the Actuarial Advisory Committee, which is included in the triennial valuations that are published on RRB.gov.	Narrative Description*	In planning and carrying out the actuarial valuation of the railroad retirement system, the Committee counsels with the Chief Actuary as to the structure, actuarial methods, actuarial assumptions, and procedures of the valuation and as to the scope and content of his report. Therefore, the Committee helps the agency to serve as a responsible steward for our customers’ trust funds by ensuring that the amounts in the funds are projected and reported accurately. The agency only has one three-person advisory committee. The committee has never had a Decision Maker. Tt was felt that a CMO and a DFO were sufficient.

COSTS

1. Payments to Non-Federal Members*		1. Est Paymnts to Non-Fed Membrs Nxt FY*
2. Payments to Federal Members*		2. Est. Payments to Fed Members Next FY*
3. Payments to Federal Staff*		3. Estimated Payments to Federal Staff*
4. Payments to Consultants*		4. Est. Payments to Consultants Next FY*
5. Travel Reimb. For Non-Federal Membrs*		5. Est Travel Reimb Non-Fed Membr nxtFY*
6. Travel Reimb. For Federal Members*		6. Est Travel Reimb For Fed Members*
7. Travel Reimb. For Federal Staff*		7. Est. Travel Reimb to Fed Staf Nxt FY*
8. Travel Reimb. For Consultants*		8. Est Travel Reimb to Consltnts Nxt FY*
10. Other Costs		10. Est. Other Costs Next FY*
11. Total Costs	$0.00	11. Est. Total Next FY*	$0.00
Date Cost Last Modified	1/22/2025 9:07 AM	Est. Fed Staff Support Next FY*
Federal Staff Support (FTE)*		Est Cost Remarks
Cost Remarks

Interest Areas

Category Area Retirement Pensions Retirement Social Security

Custom Links

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