Actuarial accrued liability definition

Actuarial accrued liability means pension cost attributable, under the actuarial cost method in use, to years prior to the current period considered by a particular actuarial valuation. As of such date, the actuarial accrued liability represents the excess of the present value of future benefits and administrative expenses over the present value of future normal costs for all plan participants and beneficiaries. The excess of the actuarial accrued liability over the actuarial value of the assets of a pension plan is the unfunded actuarial liability. The excess of the actuarial value of the assets of a pension plan over the actuarial accrued liability is an actuarial surplus and is treated as a negative unfunded actuarial liability.
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Actuarial accrued liability means that portion, as determined by a particular actuarial cost method, of the actuarial present value of fund obligations and administrative expenses which is not provided for by future normal costs.
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Actuarial accrued liability means the portion of the actuarial present value of projected benefits attributed to past periods of member service based on the cost method used in the risk sharing valuation study prepared under Section 13B or 13C of this article, as applicable; and
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Examples of Actuarial accrued liability in a sentence

  • Actuarial accrued liability (AAL), other postemployment benefits (OPEB), unfunded actuarial accrued liability (UAAL), and healthcare cost trend rate shall have the same meanings ascribed to such terms under the generally accepted accounting principles for governmental accounting promulgated from time to time by the Governmental Accounting Standards Board.

  • The funded status of the plan as of June 30, 2014, the date of the most recent actuarial valuation, was as follows: Actuarial accrued liability (AAL)$ 2,308,300Actuarial value of plan assets$ -Unfunded actuarial accrued liability$ 2,308,300Funded ratio (actuarial value of plan assets/AAL)0%Covered payroll (active plan members)$ 6,664,858UAAL as a percentage of covered payroll34.63% NOTE 10—OTHER POSTEMPLOYMENT BENEFITS (CONTINUED) D.

  • Funded Status and Funding Progress The funded status of the plan as of May 1, 2016 was as follows: Actuarial accrued liability (AAL) Actuarial value of plan assets Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and assumptions about the probability of occurrence of events far into the future.

  • Actuarial accrued liability (AAL)$39,933,237Actuarial Value of plan assets36,646,487Unfunded actuarial accrued liability (UAAL)$3,286,750Funded ratio (actuarial value of plan assets / AAL)91.8%Covered payroll (active plan members)$10,204,932UAAL as a percentage of covered payroll32.2% Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and assumptions about the probability of occurrence of events far into the future.

  • The funded status of the plan as of June 30, 2014, the date of the most recent actuarial valuation, was as follows: Actuarial accrued liability (AAL)$ 2,203,500Actuarial value of plan assets$ -Unfunded actuarial accrued liability$ 2,203,500Funded ratio (actuarial value of plan assets/AAL)0%Covered payroll (active plan members)$ 6,502,300UAAL as a percentage of covered payroll33.89% NOTE 10—OTHER POSTEMPLOYMENT BENEFITS (CONTINUED) D.


More Definitions of Actuarial accrued liability

Actuarial accrued liability as used in this section, means "Actuarial Accrued Liability" as that term is defined under GASB No. 45.
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Actuarial accrued liability as used in this section, means "Actuarial Accrued Liability" as that term is defined under GASB No. 45 as may be amended from time to time.
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Actuarial accrued liability. (AAL) means the actuarial accrued liability determined in accordance with the Actuarial Cost Method outlined this Policy.
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Actuarial accrued liability means the portion of the actuarial
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Actuarial accrued liability means that portion, as determined by a particular actuarial cost method, of the actuarial present value of Trust obligations and administrative expenses which is not provided by future normal costs.
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Actuarial accrued liability means the portion of the present value of projected retirement benefits which is not provided for by future Normal Costs, as determined by LACERA's actuary
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Actuarial accrued liability as used in this section, means "Actuarial Accrued
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