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OUR APPROACH

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Copyright
© 2017 Robert Abzug

​​​PROFESSIONAL ORGANIZATIONS AND CREDENTIALS:

Associate of the Society of Actuaries (ASA from 1983 to present)
Enrolled Actuary (EA from 1988 to present)
Member of the American Academy of Actuaries (MAAA from 1983 to present)
Fellow Conference of Consulting Actuaries (FCA from 2003 to present)

EXPERIENCE

East Coast QDROs & Actuarial Services, Coral Springs, FL & Melville, NY               May 2017 – present
President

Services To Be Offered: Expert witness calculations of lost benefits and compensation; preparation of QDROs for qualified retirement programs; present value calculations of all types of qualified and nonqualified retirement and postretirement benefits; design, valuation and administration of qualified and nonqualified retirement and postretirement programs

Angell Pension Group, East Providence, RI                                                            November 2016 – March 2017
Consulting Actuary

Pension plan design, valuation and administration for various clients including valuation of present value of plan liabilities and assets, determining minimum required and maximum deductible contributions, accounting liabilities and financial statement disclosure information, government filings, benefit statements and participant certifications

Chernoff Diamond & Co., LLC, Uniondale, NY                                                          January 1999 – August 2016
Principal and Senior Consulting Actuary

Litigation support including present and future value calculations as well as testimony as an expert witness (including American Airlines acquisition of TWA Airlines), present value and future value calculations and testimony in various arbitration cases for Municipalities (including Village of Larchmont vs. Larchmont Police, Town of Westhampton vs. Westhampton Police) and other present value and future value calculations in support of various expert witness cases (including Old Brookville Police vs. Muttontown). Valuation of benefits in divorce including review of Qualified Domestic Relations Orders for my clients.

Lead consultant for publicly traded as well as privately held clients (including Skanska, Revlon, The National Hockey League, Bank of Tokyo Mitsubishi, ITOHU International Inc., GreenPoint Bank, Lord Abbett) in the design, valuation and administration for all types of qualified and nonqualified defined benefit plans (including cash balance, pension equity plans, floor offset arrangements, SERPs, Excess Benefit Plans and Top Hat Plans), defined contribution plans (including 401(k), profit sharing, target benefit, 403(b), ESOPs, SERPs, Excess Benefit Plans, and Top Hat Plans) and Postretirement Healthcare benefits (including medical, dental, prescription drugs, vision, life insurance, etc.) including measurement of liabilities and assets in accordance with expense and disclosure requirements of U.S. Accounting Standards, U.S. Government Accounting Standards, International Accounting Standards and Japanese Accounting Standards (ASC 715, ASC 960, IFRS, Japanese GAAP, and GASB 45), PBGC termination liabilities and top heavy testing calculations. Designed and prepared communication materials for clients including total compensation statements, new plan design announcements and conducted employee meetings.

Mercer, New York, NY                                                                                                  January 1995 - December 1998
Associate Consulting Actuary

Litigation support including preparation of present value and future value calculations in connection expert witness testimony for various cases (including MacAndrews & Forbes Group vs. Stanley Tepperman and Joe F. Collins vs. Compagnie Nationale Air France) and valuation of benefits in divorce including review of Qualified Domestic Relations Orders for my clients.

Evaluated liabilities and assets in connection with the actuarial valuations of defined benefit plans for both publicly traded and privately held clients (including GreenPoint Bank, Chase Bank, Sunbeam Corporation) including Form 5500, PBGC filings and U.S. accounting and expense disclosures and in connection with mergers and acquisitions.

KPMG, New York, NY                                                                                                      March 1986 - December 1994
Manager

Evaluated liabilities and assets in the design and implementation of qualified and nonqualified defined benefit plans (including KPMG plans, Chrysler Corporation, BONY, U.S. Life Corporation) including preparation of actuarial valuations for defined benefit plans, Form 5500 filings, PBGC filings, participant benefit calculations and preparation of benefit statements. Measurement of liabilities and assets in accordance with expense and disclosure requirements of U.S. accounting standards, statutory accounting disclosures for insurance companies, plan termination liability and top-heavy testing requirements.

TIAA/CREF, New York, NY                                                                                               September 1980 - March 1986
Actuarial Student

Assisted in the completion of annual insurance statement, implemented unisex mortality products for defined contribution systems, filed and prepared policy forms with state insurance departments and prepared benefit calculations for participants in the pension administration unit.

EDUCATION
The College of Insurance (St. John’s University), New York, NY
Bachelor of Science in actuarial science received in August 1980

SPEECHES AND LECTURES
Government Accounting Standards Board Statement 45 presentation to accountants and municipalities
Supplemental Executive Retirement Plans presentation to CFOsPension Plan accounting requirements presentation to CFOs and accountants

Pension Plan accounting requirements presentation to CFOs and accountants