Federal Government Actuarial Positions
An overview of actuarial career opportunities in federal agencies like CMS, SSA, and the VA.
Where Federal Actuaries Work
The federal government employs actuaries across several agencies, each offering distinct responsibilities and areas of focus. The Centers for Medicare and Medicaid Services (CMS) hires actuaries to project healthcare costs, evaluate policy proposals, and monitor the financial performance of Medicare Advantage and Part D plans. The Social Security Administration (SSA) employs actuaries who produce the annual Trustees Report, projecting the long-term financial status of Social Security and Medicare over a 75-year horizon.
The Department of Veterans Affairs (VA) employs actuaries to manage insurance programs for veterans and to project healthcare costs for the VA health system. The Pension Benefit Guaranty Corporation (PBGC) hires actuaries to manage the insurance program that protects private sector pension benefits when plan sponsors become insolvent. The Government Accountability Office (GAO) employs actuaries to conduct audits and evaluations of federal programs with significant actuarial components. The Congressional Budget Office (CBO) and the Department of Defense also maintain actuarial functions for their respective programs.
Actuarial Work at CMS
CMS is one of the largest employers of federal actuaries. The Office of the Actuary (OACT) at CMS produces national health expenditure projections, estimates the cost of proposed legislation affecting healthcare programs, and monitors the financial status of the Medicare trust funds. Actuaries at CMS work on projects that directly influence national health policy, including projecting the impact of new drug approvals on Part D spending, evaluating proposed changes to hospital payment systems, and developing risk adjustment models for Medicare Advantage.
The work at CMS requires a blend of traditional actuarial skills and policy analysis capabilities. Actuaries must be comfortable presenting their analyses to policymakers, congressional staff, and the public. The scale of the programs involved is enormous: Medicare alone covers over 65 million Americans, and small percentage changes in cost projections translate to billions of dollars. This scale makes precision in assumptions and methods critically important.
Actuarial Work at SSA
The Office of the Chief Actuary at the Social Security Administration is responsible for producing the long-range financial projections that form the basis of the annual Trustees Report. These projections extend 75 years into the future and require assumptions about demographic factors (fertility, mortality, immigration), economic factors (productivity growth, inflation, unemployment), and program-specific factors (disability incidence, retirement patterns).
SSA actuaries develop and maintain complex microsimulation models that project the financial status of the OASI and DI trust funds. They also estimate the cost of proposed legislative changes to Social Security, providing analysis that Congress uses to evaluate reform proposals. The work requires deep knowledge of demographic modeling, economic forecasting, and the program rules governing Social Security benefits.
Career Path and Compensation
Federal actuarial positions follow the General Schedule (GS) pay scale, with most actuaries hired between GS-9 and GS-15 levels depending on experience and credentials. Entry-level actuaries with a few exams typically start at GS-9 or GS-11. With additional exams and experience, advancement to GS-12 and GS-13 occurs within a few years. Senior actuaries and supervisors occupy GS-14 and GS-15 positions. Some agencies also have Senior Executive Service (SES) positions for top-level actuarial leaders.
Benefits of federal employment include:
- The Federal Employees Retirement System (FERS), which combines a defined benefit pension, Social Security, and the Thrift Savings Plan
- TSP employer matching contributions up to 5% of salary
- Comprehensive health insurance through the Federal Employees Health Benefits (FEHB) program
- Generous annual leave and sick leave accrual
- Exam support including study time and fee reimbursement at many agencies
- Student loan repayment assistance programs at some agencies
The Public Service Dimension
Federal actuaries often work on policy questions with national impact, which can be deeply rewarding for those motivated by public service. Projecting whether Social Security will remain solvent, estimating the cost of a proposed Medicare expansion, or evaluating the financial health of pension plans protecting millions of workers are responsibilities that carry genuine significance beyond their technical complexity.
The work also provides exposure to large-scale modeling and long-term projection techniques that are rare in the private sector. Few private employers build models that project 75 years into the future or cover populations of hundreds of millions. This experience develops a unique skill set that is valuable both within government and in subsequent private sector roles.
How to Apply
Federal actuarial positions are posted on USAJobs.gov, the central portal for federal employment. Search for job series 1510 (Actuary) to find current openings. The application process can be lengthy, often taking several months from posting to hiring. Federal applications require detailed resumes that document your experience, education, and exam progress.
When applying, be thorough in describing your actuarial experience and technical skills. Federal HR specialists use your application to determine whether you meet the qualification standards for the position, so specificity matters. Include your exam progress, any programming skills, and relevant coursework or certifications. Networking with current federal actuaries through professional organizations like the SOA or AAA can provide valuable insights into the application process and the day-to-day work environment at specific agencies.