GFOA recommends that public pension plans use an Actuarially Determined Contribution (ADC) to determine how much governments will contribute to the plan, and Actuarial Standards of Practice (ASOPs) can have a significant influence on valuing the underlying liabilities, determining specific contributions, and assessing key risk factors. This session will provide an explanation of recent changes in ASOPs--including the how and why behind the standards--and provide guidance on how pension plan administrators can effectively implement and maximize the value of ASOP-recommended activities.