May 29, 2015
NEW YORK—Mayor Bill de Blasio today announced Sherry Chan as the City’s new Chief Actuary. In this role, Chan will serve the City’s retirement funds and oversee actuarial calculations for post-employments benefits for City employees.
“The Chief Actuary ensures that we’re working as hard for our City employees – the people who protect us, keep our streets safe, and educate and inspire our children – as they have worked for us,” said Mayor de Blasio. “Sherry has the experience and the skill to deliver the necessary support for the hundreds of thousands of dedicated City employees transitioning into retirement, and I’m proud to welcome her on board.”
“As Chief Actuary, I will use my experience and knowledge to provide the best possible services to the civil servants of this great city. After devoting their careers to public service, our employees and their families deserve a financially secure retirement. I am honored to take on this duty, and thank the Mayor for the opportunity to serve this city and its workers,” said Chief Actuary Sherry Chan.
As Chief Actuary, Chan will work for the five major actuarially-funded New York City Retirement Systems, including the New York City Employees’ Retirement System (NYCERS), the Teachers’ Retirement System (TRS), the Board of Education Retirement System (BERS), the New York City Police Pension Fund, and the New York Fire Department Pension Fund. The Chief Actuary also serves as the legally-designated technical advisor to the Board of Trustees of the New York City Retirement Systems (NYCRS). The Office of the Actuary is responsible for determining employer contributions and funded status for NYCRS, preparing employer contributions for use in the development of budget and financial plans, certifying benefits for retiring employees, and preparing financial reports and accounting information on the New York City Health Benefits Program.
About Sherry Chan
Sherry S. Chan has more than 15 years of international actuarial experience, with a specialty in retirement benefits. Most recently, Chan served as Chief Actuarial Officer for the Ohio Public Employees Retirement System and was an actuary for the state of Ohio. While in this role, Chan was also actively involved in the actuarial community, volunteering with the Actuarial Foundation’s Advancing Student Achievement Program and on the Board of the Columbus Actuarial Club. Chan is also an Associate of the Society of Actuaries, a Fellow of the Conference of Consulting Actuaries, and a Member of the American Academy of Actuaries. Chan received her bachelor’s degree from The Ohio State University, where she studied actuarial science, mathematics, economics and Chinese. She earned a master’s degree from The Max M. Fisher College of Business at The Ohio State University after graduating from their Executive MBA program.
About the Office of the Actuary
The New York City Office of the Actuary provides actuarial information and services for the five major actuarially-funded New York City Retirement Systems (NYCRS), nine Variable Supplement Funds (VSFs), two Tax Deferred Annuity (TDA) Programs, six Group Life Insurance Funds, three Closed Pension Funds, and the New York City Health Benefits Program.
This information is provided to the Boards of Trustees and staff of the NYCRS, to the City of New York and other employers and labor organizations whose employees participate in the NYCRS, to fiscal oversight entities, to City and State legislators and to other parties interested in the NYCRS.