Alan Perry

FSA, MAAA, CFA

Principal, Consulting Actuary

Berwyn, PA, US

Alan Perry is a principal and consulting actuary with the Philadelphia office of Milliman. He joined the firm in 1990.

Experience

Alan’s experience covers retirement plans, college prepaid tuition and savings plans, endowments, foundations, and insurance organizations. He specializes in the development of capital markets assumptions and investment policy. Alan performs asset/liability studies, including stochastic modeling, to help plan sponsors develop investment and funding strategies and manage financial risk. He also performs valuations of employee stock options.

Publications and Presentations

Alan serves on Milliman’s Investment Oversight Committee and is the Chair of Milliman’s Capital Markets Committee. He is a frequent speaker on pension and investment topics, including the following:

National Association of State Treasurers
International Foundation of Employee Benefit Plans
Government Finance Officers Association

Alan is also the co-author of the annual Milliman Pension Funding Study that analyzes the funding progress of the 100 largest U.S. corporate defined benefit plans.

Professional Designations

Fellow, Society of Actuaries
Member, American Academy of Actuaries
Chartered Financial Analyst

Education

BBA, Economics, Wharton School, University of Pennsylvania
MS, Actuarial Science, Temple University

Affiliations

Member, American Academy of Actuaries’ Task Force on Employee Stock Options
Member, Financial Analysts of Philadelphia

Publications

Read their latest work

Article

2024 Corporate Pension Funding Study

24 April 2024 - by Zorast Wadia, Alan Perry

Milliman's annual Corporate Pension Funding Study dives into details of the top 100 plans, whose funded ratio decreased slightly during FY2023 to 98.5% from 99.4% at the end of FY2022.

Article

2023 Corporate Pension Funding Study

20 April 2023 - by Zorast Wadia, Alan Perry, Richard J. Bottelli Jr.

Milliman's annual Corporate Pension Funding Study dives into details of the top 100 plans, whose funded ratio increased to 99.3% in 2022, up 300 basis points.

Article

2022 Corporate Pension Funding Study

28 April 2022 - by Zorast Wadia, Alan Perry, Charles J. Clark

The year-end 2021 funded ratio for the Milliman 100 companies settled at 96.3%, a large improvement from 2020’s funded ratio of 88.1%.

Article

2021 Corporate Pension Funding Study

07 April 2021 - by Zorast Wadia, Alan Perry, Charles J. Clark

The largest DB plans improve funded ratio to 88.4% in 2020, up from 87.5% a year earlier.

Article

2020 Corporate Pension Funding Study

28 April 2020 - by Zorast Wadia, Alan Perry, Charles J. Clark

Despite a drop of 94 basis points in discount rates, the private single-employer defined benefit plans of the Milliman 100 companies continued to make funding progress in 2019 due to their stellar investment returns of 17.3%.

Article

2019 Corporate Pension Funding Study

16 April 2019 - by Charles J. Clark, Alan Perry, Zorast Wadia

Despite investment losses of 2.8%-- the worst asset performance since 2008—the private single-employer defined benefit plans of the Milliman 100 companies continued to make funding improvements in 2018.

Article

2018 Corporate Pension Funding Study

18 April 2018 - by Charles J. Clark, Alan Perry, Zorast Wadia

During 2017, the private single-employer defined benefit plans of the Milliman 100 companies made significant funding improvements.

Article

2017 Corporate Pension Funding Study

06 April 2017 - by Charles J. Clark, Alan Perry, Zorast Wadia

The 100 largest corporate defined benefit pension plans finished 2016 with pension assets of $1.395 trillion and projected benefit obligations of $1.718 trillion.

Article

2016 Corporate Pension Funding Study

07 April 2016 - by Charles J. Clark, John W. Ehrhardt, Alan Perry, Zorast Wadia

The 100 largest corporate defined benefit pension plans made little progress in 2015, a tumultuous year that buffeted pension plans with volatile markets and interest rate movement.

Article

2015 Corporate Pension Funding Study

31 March 2015 - by John W. Ehrhardt, Alan Perry, Zorast Wadia

For pension plans with substantive allocation to fixed income investments, declining interest rates made 2014 a banner year.