Graham A. Schmidt, ASA, Vice President

Years of Experience: 12

Education

· B.A., Mathematics, Johns Hopkins University, Departmental Honors

· B.S., Mathematical Science, Johns Hopkins University

Professional Certification and Accreditation

· Associate, Society of Actuaries

· Fellow, Conference of Consulting Actuaries

· Member, American Academy of Actuaries

Special Areas of Expertise

· Retiree healthcare benefits and other post-employment benefits

· Governmental accounting standards related to pensions and OPEB

· Mortality studies (member, Society of Actuaries Retirement Plans Experience Committee)

Relevant Experience

· EFI Actuaries, San Francisco, CA (2009– Present) and New York, NY (May 2003 – 2009)

o Frequent speaker at national and state conferences on topics including Market Value Liabilities (MVL) for public plans, GASB 45 actuarial valuations and implementation, actuarial assumptions and OPEB issues (including retiree medical trusts and Medicare Part D)

o Serves as lead consultant for various clients, including the Marin County Employees’ Retirement Association (MCERA) and the Stanislaus County Employees’ Retirement Association (StanCERA). In addition to managing annual pension and post-retirement valuation work, special projects included costing various benefit enhancement options, costing DROP plans, funding projections, and evaluating legislative proposals.

o Performed all aspects of pension and post-retirement funding valuation work for various clients, including programming valuation systems, reviewing results, preparing/reviewing/signing reports and presenting valuation results to the client.

o Conducted funding analysis for various OPEB Plans - Developed software to analyze a new method of funding post-retirement medical benefits under a defined-equity approach (patent pending).

o Performed independent parallel valuations and audits for the CalPERS actuarial valuations.

· Bolton Partners, Baltimore, MD (February 2002 – May 2003)

o Performed all aspects of pension funding valuation work for various clients.

o Co-authored comments to the Treasury Department regarding recent proposed Cash Balance regulations.

o Acted as technical assistant preparing research paper (in press) on DROP plans for the Society of Actuaries.

o Developed and presented funding projection software for the Trustees of the Anne Arundel County Retirement System.

o Served as lead consultant for various fire department unions. Projects included costing various benefit enhancement options and evaluating disability provisions.

o Performed classified work for the PBGC Corporate Finance and Negotiations Division, estimating unfunded benefit liabilities for large underfunded corporate pension plans.

o Performed special projects involving plan benefit redesign, cost analysis of early retirement options, cash flow analysis, funding/accounting projections, cash balance conversions, DROP plans, and COLAs.

· Buck Consultants, Washington D.C. & Baltimore, MD (August 1998 – January 2002)

o Designed and implemented a stand-alone Visual Basic application to administer all aspects of a corporate retirement plan, including data management, benefit calculations, and benefit payment processing.

o Performed actuarial valuation process from data reconciliation/analysis to valuation results for qualified plans in the private sector and government entities.

o Produced funding results required under IRS regulations, accounting information for FAS 35, and FAS 87 expense/disclosure.