Paul Angelo, FSA, MAAA, FCA, EA

Senior Vice President & Actuary
Segal Consulting

Mr. Angelo is a Senior Vice President and Actuary in Segal’s San Francisco office. He has over 35 years of experience in the design, valuation and administration of large defined benefit plans, including corporate, governmental, Taft-Hartley and other collectively bargained plans.

Mr. Angelo currently serves as valuation actuary for sixteen major California county and city retirement systems and associations, as well as the University of California Retirement Systems. His assignments for these systems have included funding policy design and review, analysis of pension reform proposals and consulting to bargaining parties on benefit design. 

Mr. Angelo is a former member of the GASB Postemployment Benefits Accounting and Financial Reporting Task Force and currently serves on the California Actuarial Advisory Panel, as well as the Committee on Retirement and Benefits Administration of the Government Finance Officers Association (GFOA CORBA).

Mr. Angelo has a BS in Mathematics from the University of Notre Dame and an MA in Mathematics from Harvard University. He also holds a Master of Actuarial Science degree from the University of Michigan Graduate School of Business Administration. Mr. Angelo is a Fellow of the Society of Actuaries, a Member of the American Academy of Actuaries, a Fellow of the Conference of Consulting Actuaries and an ERISA Enrolled Actuary.

Mr. Angelo is active in several national actuarial organizations. He currently serves as Chair of the Public Plans Community of the Conference of Consulting Actuaries and as head of the Public Plans Section of the Conference’s Annual Meeting Committee. Mr. Angelo is active in the American Academy of Actuaries Pension Practice Council and has served as chair of its Public Plans Subcommittee. He is a past Chair of the Pension Section Council of the Society of Actuaries and is a current member of the Society’s Social Insurance & Public Finance Section Council.

In 2012, Mr. Angelo was named the Most Valuable Volunteer by the Conference of Consulting Actuaries.

Mr. Angelo is an active speaker on retirement topics. He has made frequent presentations to both California and national associations of public retirement systems. Recent presentation topics include new developments in funding policy guidance and practice, and the ongoing debate regarding financial economics and public sector plans.  Mr. Angelo is also a frequent speaker on public pension topics and financial economics at conferences sponsored by the American Academy of Actuaries, the Conference of Consulting Actuaries and the Society of Actuaries.

In May 2013, Mr. Angelo wrote and presented a paper, “Understanding the Valuation of
Public Pension Liabilities: Expected Cost versus Market Price,” for the American Enterprise Institute. That paper was updated and reprinted in the January 2016 issue of “In the Public Interest”, the newsletter of the Society’s Social Insurance & Public Finance Section. He has also authored papers on public pension funding in California’s Public Retirement Journal.