Annual required contribution definition

Annual required contribution means the sum of the normal cost payment and the annual amortization payment for past service costs to fund the unfunded actuarial accrued liability.

Annual required contribution means an actuarially determined amount to pay for future OPEB liability over a period of years.

Annual required contribution means the annual required contribution determined

Examples of Annual required contribution in a sentence

• Annual required contribution of the employer(s) – as a level dollar amount and as a level percentage of covered payrolls.

• The ARC represents a level of funding which, if paid on an ongoing basis, is projected to cover normal cost each year and amortize any unfunded actuarial liabilities over a period not to exceed 30 years.The following table shows the components of the County’s annual OPEB cost for the year ended June 30, 2015; the amount actually contributed to the plan and the change in the County’s net OPEB obligation: Annual required contribution$ 133,000Interest on net OPEB obligation37,000July 1, 2008.

• Annual required contribution$ 1,004,000Interest on net OPEB obligation(3,160)Adjustment to annual required contribution2,818Annual OPEB cost1,003,658Contributions made(1,045,000)Decrease in net OPEB obligation(41,342)Net OPEB obligation beginning of year(79,000) Net OPEB obligation end of year $ (120,342) For calculation of the net OPEB obligation, the actuary has set the transition day as July 1, 2008.

• The City's OPEB cost, the percentage of annual OPEB cost contributed to the Plan, and the net OPEB obligation for April 30, 2017 were as follows: The net OPEB obligation of April 30, 2017 was calculated as follows: Annual required contribution Interest on net pension obligationAdjustment to annual required contribution $ 63,895- - Annual OPEB cost63,895Contributions made (67,482)Increase in net OPEB assetNet OPEB obligation, beginning of year(3,587) - Net OPEB obligation/(asset), end of year $ (3,587) C.

• Nearly 54% of the budget is applied to the reliable supply goal, and 12% is applied to maintaining a fair price with efforts on the bonds and administration of the WSA for the member agencies’ financial interests.The budget fully funds the estimated OPEB Annual required contribution, and includes an allowance for adjustment to existing salaries for both COLA and merit- based increases up to a 5%, which is less than the COLA for 2022.

More Definitions of Annual required contribution

Annual required contribution and “ARC” shall mean that the amount that must be contributed in a given year to fully fund the Trust, as determined by the actuarial valuation in accordance with requirements of GAAP and all other such requirements under GASB Statements 43 and 45 or any subsequent GASB statement that may be applicable. This amount shall represent a level of funding that if paid on an ongoing basis is projected to cover the normal cost each year and amortize any UAAL over a period not to exceed thirty (30) years or any other period in excess of thirty (30) years as may be reasonably approved by actuarial standards of practice.

Annual required contribution means the State's required contribution to the employees' retirement system or Hawaii employer-union health benefits trust fund, as applicable, that is sufficient to cover:

Annual required contribution means the amount employers must contribute in a given year to fully fund the trust, as determined by the actuarial valuation in accordance with requirements of generally accepted accounting principles. This amount shall represent a level of funding that if paid on an ongoing basis is projected to cover the normal cost each year and amortize any unfunded actuarial liabilities of the plan over a period not to exceed thirty years.

Annual required contribution. (“ARC”) means the annual amount required to pay into the pension funds, as determined through annual actuarial valuations. It is comprised of two primary components: normal pension cost – which is the estimated cost of pension benefits earned by employees in the current year; and amortization of UAAL – which is the cost needed to cover the unfunded portion of pensions earned by employees in previous years. The UAAL is collected over a period of time referred to as the amortization period. The arc is a percentage of the current payroll.

Annual required contribution means the amount employers must contribute in a given year to fully fund the trust, as determined by the actuarial valuation in accordance with requirements of generally accepted accounting principles. This amount shall represent a level of

Annual required contribution means the amount determined in accordance with

Annual required contribution means the sum of the normal