Unfunded actuarial accrued liability definition

Unfunded actuarial accrued liability means the total current and expected future benefit obligations, reduced by the sum of the actuarial value of assets and the present value of future normal costs.

Unfunded actuarial accrued liability means for any actuarial valuation the excess of the actuarial accrued liability over the actuarial value of the assets of the fund under an actuarial cost method utilized by the fund for funding purposes.

Unfunded actuarial accrued liability. (UAAL) shall mean the excess of the Actuarial Accrued Liability (AAL) over the Actuarial Value of Assets (AVA). The UAAL can derive from three sources: unfunded past Normal costs, actuarial gains and losses (differences between actuarial assumptions and actual experience), and changes to the level of benefits promised.

Examples of Unfunded actuarial accrued liability in a sentence

• 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.

• Unfunded actuarial accrued liability (UAAL) (or excess assets) is being amortized as a level percentage of projected payroll on a closed basis.

• Unfunded actuarial accrued liability" means the total current and expected future benefit obligations, reduced by the sum of current assets and the present value of future normal costs.

• Unfunded actuarial accrued liability dollars divided by active employee payroll provides an index which helps understanding.

• 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 Unfunded actuarial accrued liability

Unfunded actuarial accrued liability means the

Unfunded actuarial accrued liability means the difference between the actuarial accrued liability and the actuarial value of assets. For purposes of this definition:

Unfunded actuarial accrued liability. (UAAL) means the excess of the actuarial accrued liability above the actuarial value of assets.

Unfunded actuarial accrued liability means the excess of a defined benefit retirement plan’s actuarial liabilities at any given point in time over the value of its cash and investments on that same date.

Unfunded actuarial accrued liability means the portion of the actuarial accrued liability, including the present value of benefits presently being paid to retirees, that exceeds the value of current assets.

Unfunded actuarial accrued liability means the difference between

Unfunded actuarial accrued liability means the aggregate of the unfunded actuarial accrued liabilities of the pension systems, with the unfunded actuarial accrued liability of each pension system being calculated in an actuarial valuation report provided by the Consolidated Public Retirement Board to the Department of Administration pursuant to section four of this article.