February 8, 2012 (Indianapolis) – The preeminent organization in the actuarial science industry, Society of Actuaries, has released the textbook “Understanding Actuarial Practice.” The new release will serve as the primary guide and reference for actuary candidates seeking to understand the practice and ethical role of actuaries in the retirement, insurance and healthcare industries. Indianapolis-based actuary Patricia Scahill, FSA was the author for the retirement-related subject matter. Scahill is a principal and serves as general counsel for Nyhart Actuary & Employee Benefits, Indiana’s largest independent actuarial and employee benefits consulting firm.
The publication replaces four separate texts as the new primary compendium on the topic.
“We are pleased to have Pat featured as the primary author and educator for retirement topics in this compendium,” said Thomas Totten, FSA, the CEO at Nyhart. “There are few seasoned professionals who bring her experience and understanding of both retirement and ERISA law and actuarial science. I am confident that actuaries, for many years to come, will use this book and her contributions to make tough decisions on actuarial issues.”
Becoming a Fellow of the Society of Actuaries, the highest designation in the field, is a multi-year process. The book will be a critical guide to aspiring actuaries who must learn and be tested on the fundamentals of actuarial practice modules, which are part of the curriculum to earn the Associate of the Society of Actuaries designation.
“It’s an honor to contribute to a book that will reach so many of my peers and colleagues in the actuarial community,” said Pat Scahill. “I am most proud that it emphasizes Nyhart’s role as a thought leader, educator and expert on retirement actuarial matters.”
Nyhart staff consult to a wide range of companies on defined benefit (pension), defined contribution (401(k), 403(b), etc.) and healthcare actuarial clients including hospitals, governments, churches and private corporations.
About Nyhart Actuary & Employee Benefits
Nyhart is Indiana’s largest independent actuarial and employee benefit firm, consulting and administering plans to 1000+ clients in 48 states representing $14 billion in plan assets. Established in 1943, Nyhart is an employee owned company (ESOP) with offices in Indianapolis, Chicago, Atlanta and Kansas City. The company was named a 2009 Indiana Company to Watch by the IEDC and was named a Best Place to Work by the Indianapolis Star in 2009, 2010 and 2011. Learn more at nyhart.com
About the Society of Actuaries
The Society of Actuaries is an educational, research and professional organization dedicated to serving the public, its members and its candidates. The SOA’s mission is to advance actuarial knowledge and to enhance the ability of actuaries to provide expert advice and relevant solutions for financial, business and societal problems. The SOA’s vision is for actuaries to be the leading professionals in the measurement and management of risk. For information, visit soa.org.