Reporting Requirements for Designated Contracts Clause Samples

Reporting Requirements for Designated Contracts. The following reports shall be submitted within nine months of the last day of the current plan year to DOE for each Laboratory. (1) Any annual actuarial valuation report which includes information in the annual separate actuarial valuations for each Laboratory managed by the Contractor for DOE which DOE may reasonably request. DOE shall pay the cost of all separate valuations. At a minimum, these reports shall include: an itemized cashflow; the aggregate covered compensation; a distribution of active members by age, service, and salary; separate distributions of retirees and terminated vested members by age, benefit amount, and time expired since retirement or separation; a brief description of each amortization base, if any, and its date, original amount, and annual payment; an itemization of the changes in the numbers of actives, retirees and terminated vested members during the plan year; the rate of interest currently credited to employee contributions; a statement of the Financial Accounting Standards (FAS) 35 liabilities; a statement of the current liability under Internal Revenue Code Section 412; a development of the total actuarial gain or loss; a statement of actuarial assumptions and methods; calculation of the assets of each Laboratory; calculation of the actuarial asset value; calculation of contribution requirements; and a statement of the changes, if any, in benefits, assumptions or methods since the last report. (2) A copy of the Financial Accounting Standards Board Statement ASC 715 report prepared each year to satisfy the expense-reporting requirement of the Office of Management and Budget. (3) In order to report the funded status (surplus or deficit) of each Laboratory’s portion of UCRP to the DOE, the Contractor will measure the liabilities using the Entry Age Normal actuarial method and the Actuarial Value of Assets as defined in the valuation report indicated in subparagraph (d)(1) above.