About the Office of the Actuary

Michael J. Samet
Interim Chief Actuary

FSA, MAAA


Prior to assuming the role of Interim Chief Actuary, Mike served as the First Deputy Chief Actuary for the New York City Office of the Actuary (NYCOA) for the past 6 years and has been at the agency for a total of 10 years.

In the First Deputy role, Mike was the Chief Actuary’s right-hand person and led the Actuarial Services Division which consists of approximately twenty actuaries and is responsible for all the actuarial deliverables produced by the NYCOA including the calculation of the annual contribution New York City and other obligors are required to make to each of the five New York City Retirement Systems and Pension Funds (NYCRS).

Mike’s proudest accomplishment as First Deputy was bringing the annual actuarial valuation work in-house which had previously been outsourced to an actuarial consulting firm. This not only saved money for the City, but also allowed the NYCOA to be more responsive to other projects and questions regarding the pension plans. Other major accomplishments of the OA while Mike was in the First Deputy role include creating annual actuarial valuation reports for all the NYCRS; designing new optional form factors for all the NYCRS to ensure that pension benefits remain actuarially appropriate, fiduciarily ensuring the proper value to retirees and beneficiaries; and completely revamping the Fiscal Note process resulting in a much higher level of responsiveness for issuing Fiscal Notes.

Prior to joining the agency, Mike spent the previous 30 years as a pension actuary in the private sector. After 10 years at two of the largest actuarial consulting firms, Mike spent the last 20 years with Ernst & Young where he consulted with all kinds of corporations and partnerships on topics such as pension funding, design, compliance, and accounting. He was the partner in charge of their pension actuarial practice when he retired from Ernst & Young in 2011.

Mike is a graduate of the University of Virginia and is a Fellow of the Society of Actuaries and a member of the American Academy of Actuaries.