Actuaries in Government

The government runs pension and benefit programs that dwarf the most ambitious corporate setups imaginable and actuaries are at the heart of these programs. Medicare, Medicaid, Social Security, Veterans Affairs, government worker pension programs and benefits -- millions of American rely on government actuaries so that their benefits and pensions will be there when they need them.

Actuaries in Government
The government runs pension and benefit programs that dwarf the most ambitious corporate setups imaginable and actuaries are at the heart of these programs. Medicare, Medicaid, Social Security, Veterans Affairs, government worker pension programs and benefits -- millions of American rely on government actuaries so that their benefits and pensions will be there when they need them. The federal government is one of the largest employers of actuaries, and several large state governments -- New York and California in particular -- have their own benefit programs and major retirement funds that require actuarial work. It isn't glamorous work by any stretch, but it's critical to the functioning of government.
Likewise, actuaries also serve as checks and balances in a wide range of government programs. Actuaries work for the White House Office of Management and Budget, the Congressional Budget Office and inside every single department in the federal government, ensuring that money is managed, benefits are paid, and risks are identified and mitigated.

The government increasingly has been using actuaries for many other purposes as well. Actuaries work for the Commerce and Labor Departments and the Federal Reserve to project the risks for a variety of events, from natural disasters to banking scandals. They're involved in risk management for the military, and its continued deployments in Iraq and Afghanistan. They're helping to plan contingencies for natural disasters. And, of course, they're still trying to solve the Social Security problem.


Visit Vault.com for more jobs and career articles



Local ArticlesCareerHome