Chief Actuary, Insurance pay range
Commonwealth of Pennsylvania · class code 04160
- Class code
- 04160
- Pay scale group
- ST 12
- Pay unit
- Year
- Bargaining unit
- B3
- State
- Pennsylvania
- The Commonwealth of Pennsylvania published pay range for Chief Actuary, Insurance is $117,282 to $178,231 per year.
- Commonwealth of Pennsylvania Office of Administration keys this classification as class code 04160.
- This is the range the plan authorises, not the salary of any individual employee.
Class specification
The Commonwealth job specification for this class is published by Commonwealth of Pennsylvania Office of Administration. The passages below are quoted from it as published, not paraphrased, and cut to their opening sentences; the full specification is the authority on duties and qualifications. It was last revised 11/01/2021.
What the state says the job is
This is highly responsible professional and advisory actuarial work in financial solvency regulation and analysis of insurance rates, rating procedures, and plans for the Department of Insurance. The employee in this job serves as the chief actuary of the Department of Insurance advising and assisting the Insurance Commissioner and Deputy Insurance Commissioners on property and casualty, life, accident and health, non-profit hospital and medical-surgical, and related actuarial programs. Work involves developing and implementing policies related to commonwealth responsibilities in financial examination, solvency monitoring, and rate regulation. Work includes reviewing and analyzing complex insurance operations, such as loss reserve discounting, asset liability matching, modeling, simulation, and stress testing.
Examples of the work
• Plans, develops, and implements policies relating to commonwealth financial solvency and rate regulation programs. • Participates in National Association of Insurance Commissioner (“NAIC”) activities by attending working group and task force meetings of an actuarial nature, representing Pennsylvania on committees, and attending national meetings. • Develops and delivers department opinions on complex and controversial financial solvency monitoring, funding studies, and rate issues. • Provides guidance and actuarial support for financial examinations as required by Pennsylvania law and NAIC requirements.
Minimum qualifications
• Ten years of actuarial experience in the insurance field, including five years working with long-tailed lines of insurance, and a bachelor’s degree in mathematics, statistics, actuarial science, insurance, risk management, or a related field; or • An equivalent combination of experience and training.
Special requirements
• This position requires fellowship in a recognized U.S. based professional actuarial organization.
Quoted from the Commonwealth job specification, read 2026-10-21.
Where this comes from
Commonwealth of Pennsylvania Office of Administration publishes this figure in Classification and Pay Plan (online, current annual salary ranges). Every number on this page is read from that document; nothing is estimated, modelled or averaged.
The Commonwealth also links this class code to its own job title and specification. That page is the official description of the classification; this page publishes its pay range.
The listed pay scale is available in the Commonwealth's current ST schedule.