Establishment and Purpose
The Actuarial Advisory Committee with Respect to the Railroad Retirement Account was established pursuant to Section 15(d) of the Railroad Retirement Act of 1937 (45 U.S.C. Sec. 2280(d)) and continued pursuant to Section 15(f) of the Railroad Retirement Act of 1974 (Public Law 93-445).
The Board is hereby authorized and directed to select two actuaries, one from recommendations made by representatives of employees and the other from recommendations made by representatives of employers as defined in paragraph (i) of section 1(a)(1) of this Act. These actuaries, along with a third who shall be designated by the Secretary of the Treasury, shall be known as the Actuarial Advisory Committee with respect to the Railroad Retirement Account. The actuaries so selected shall hold membership in the American Academy of Actuaries and shall be qualified in the evaluation of pension plans: Provided, however, that these requirements shall not apply to any actuary who served as a member of the Committee prior to January 1, 1975. The Committee shall examine the actuarial reports and estimates made by the Board and shall have authority to recommend to the Board such changes in actuarial methods as they may deem necessary. The compensation of the members of the Committee, exclusive of the member designated by the Secretary, shall be fixed by the Board on a per diem basis.
The Committee reviews each triennial valuation of the railroad retirement system, including the structure, data, actuarial methods, actuarial assumptions, and procedures of the valuation as well as the scope and content of the valuation report. During each three-year valuation cycle, the Committee meets with the Chief Actuary and the actuarial staff several times for the purpose of reviewing and discussing the significant elements of the valuation.
The signed Statement of the Actuarial Advisory Committee is included at the beginning of each valuation report. The annual Section 502 report is posted here: Budget and Financial Reports: Current and Projected | RRB.Gov
Information on the committee may also be found on the Federal Advisory Committee Act (FACA) Database: Agency: Railroad Retirement Board (facadatabase.gov)
Committee Charter
Committee Members:
| Committee Management:
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Harlan M. Weller, FSA, MAAA
Chair
Appointed by the Secretary of the Treasury
Joined 2025 | Keith T. Sartain, Chief Actuary
keith.sartain@rrb.gov Patricia Pruitt, Actuary
patricia.pruitt@rrb.gov |
Sherry S. Chan, FSA, MAAA, EA, FCA
Nominated by the Labor Member
Joined 2025 | |
Tonya B. Manning, FSA, MAAA, EA, FCA
Nominated by the Management Member
Joined 2021 | |