The new Actuarial Standard of Practice introduces multiple new considerations and requirements for public pension plans for calculating “reasonable” actuarially determined contributions and assessing the implications of a funding policy. In this session, speakers will walk through the meaning of the most significant change to the standard, explain the introduction of a measure called the “Low-Default-Risk Obligation Measure,” and discuss how SECURE 2.0 builds on the 2019 SECURE Act and impacts nearly every aspect of retirement plan administration. Attendees will also learn how these new improvements and effective mandates enhance their governmental retirement plan and what changes are coming next.