what can i do with a mathematics degree?
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What Can I Do with a Mathematics Degree?. Danny White December 6, 2011. Careers in Math. What is an Actuary. Mathematician who: Use analytical and financial skills to help solve problems Perform calculations and projections which are the backbone of the Pension and Insurance Industries - PowerPoint PPT PresentationTRANSCRIPT
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Copyright © 2011 GRS – All rights reserved.
What Can I Do with a Mathematics Degree?
Danny WhiteDecember 6, 2011
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Careers in Math
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What is an Actuary
Mathematician who: Use analytical and financial skills to help
solve problems Perform calculations and projections which
are the backbone of the Pension and Insurance Industries
Assigns a price to future risk
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The Perks of an Actuary
High salary Professional prestige Quality work environment Challenging projects Low stress (Sometimes)
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Persona of an Actuary
Characteristics►Passion of problem solving►Enjoy being intellectually challenged►Good communicator
Necessary Skills►Reasoning ability►Analytical skills►Verbal and written communication►Time management
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Employers of Actuaries
Insurance Companies►Medical►Life►Property and Casualty
Benefit Consulting Companies Public Accounting Firms Government Agencies
►Internal Revenue Service►Pension Benefit Guarantee Corporation (PBGC)
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Gabriel, Roeder, Smith & Company
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GRS and Public Retirement Systems
National firm whose primary focus is the public sector► Started in 1938 – and still work with our first client► Serve 600+ public employee systems (Pension and
OPEB)► Over 120 associates► Frequent speakers and active participants in public
sector meetings and task forces Five offices located in:
► Chicago, Dallas, Denver, Detroit, and Fort Lauderdale
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GRS is the Premier Firm in the Public Sector Consulting Business
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States where GRS currently provides retained consulting services to statewide systemsStates where GRS has provided consulting services to, including cities and other local entities
A National Perspective
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Wisconsin Assembly
OKs hiking state
employee
contributions
Recent Headlines
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Ohio Public employees, not taxpayers,
will pay for changes to the state's five
pension systems under House bill
U.S. House committees
holding hearings on state
bankruptcy and pension
plans Washington legislature to consider constitutional amendment requiring full funding of pensions
Changes to rules affecting public worker unions are under consideration in several states
Study says public pension funds are “implementing aggressive allocation strategies”
Arizona Needs Bold Pension Reform Plan
Miss. Retirement Board agrees to put off proposed increase in contribution to pension system
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Pension Plan Valuation Process
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Various Projection Techniques
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Fund
ed S
tatu
s
5th – 25th Percentile
50th – 75th Percentile
25th – 50th Percentile
75th – 95th Percentile
Assumptions- Projected liabilities based on a plan with similar characteristics as Client XYZ- Assumes employer contributions equal to 16.50% of covered payroll in all years- Investment returns based 2010 capital market assumptions and Client XYZ 2009 target asset
allocation
0%
20%
40%
60%
80%
100%
120%
140%
2009 2013 2017 2021 2025Year
Example use of Stochastic Projections
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Closing Thoughts
Your mathematics background will provide you an edge in the workforce
Choose a career that involves something you are passionate about
Continue learning and developing your skills