Actuarial Assumptions

Actuarial Assumptions

The assumptions that actuaries use in calculating expected costs and revenues of a health plan.
Examples of actuarial assumptions Utilisation rates, age & gender mix of enrolees, cost for medical services.
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previous actuarial assumptions, changes in actuarial assumptions, and
The work under the proposed Agreement consists of a full range of pension plan actuarial services to include, but are not limited to: (1) certifying all calculations related to individuals retiring, (2) providing an actuarial report for the plans, (3) providing a projection of estimated employer contributions, (4) providing GASB45, GASB27, GASB 67, GASB 68, or other calculations, (5) modifying actuarial assumptions, and (6) providing information and recommendations pertaining to changes mandated by law that will affect the pension plans and/or the funding.
Current quarter results include a net benefit of $52 million from an updated estimate of profitability, including $4 million reflecting updates of actuarial assumptions based on an annual review and $48 million from the impact of market performance in relation to our assumptions.
Management and auditors often place undue reliance on the actuary in terms of the actuarial assumptions (e.
This so-called funded percentage is considerably less than the official figure due to actuarial assumptions, but the state's relative standing is not unexpected.
Under the new method, annual adjustments will be made to reflect actual return on pension plan assets, changes in discount rates and differences from other actuarial assumptions.
However, charities using the rates need not retain their own actuaries and have the assurance that the underlying actuarial assumptions will likely produce an ultimate charitable benefit.
In 2007, though, the IRS audited the plan and found "the actuarial assumptions were applied incorrectly" for the years between 2002 and 2006, the lawsuit said.
Other factors that figure in on whether MARC agrees to reinsure business include underwriting claims control mechanisms and due diligence, and not just actuarial assumptions, according to Sweeney.
5 billion by the end of the year, based on actuarial assumptions for 179 valuations.
California taxpayers face decades of escalating payments for the nation's most generous retiree pension and health care benefits and there is compelling evidence the California Public Employees Retirement System is manipulating actuarial assumptions to conceal the true cost of the benefits,'' Richman, R-Granada Hills, wrote in a recent letter to Attorney General Bill Lockyer.
It allows the use of actuarial assumptions that are inconsistent with current financial conditions and it doesn't require pension fund deficits to be shown on the balance sheet.