Annual Financial Report 1987
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In our eReader you can find the full English version of the book. Read Annual Financial Report 1987 Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Annual Financial Report 1987
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This valuation was authorized by the Public Employees' Retirement Board under Title 19 M.C.A. The purpose of the valuation was to determine the financial position of each fund, the normal cost, and the unfunded accrued liability based upon present and prospective assets and liabilities of each fund as of July 1, 1986. Each retirement system is valuated biennially.
Funding Method The method of funding employed by each retirement system is commonly referred to as the entry age normal cost method.... This method established a normal cost of each fund as well as an unfunded accrued liability. The normal cost is the level percentage of total salaries required to fund the benefits, assuming this percentage has been contributed since each member's entry into the fund.
The unfunded accrued liability represents the excess of the present value of total liabilities over the present assets of the fund and the present value of expected future contributions for the normal cost.
]n order to maintain a fund on an actuarial sound basis, the rate of contribution should be such as to meet the normal cost in addition to making progress towards the amortization of the unfunded liability.
What to read after Annual Financial Report 1987?
You can find similar books in the "Read Also" column, or choose other free books by Montana. Public Employees' Retirement Board to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
This valuation was authorized by the Public Employees' Retirement Board under Title 19 M.C.A. The purpose of the valuation was to determine the financial position of each fund, the normal cost, and the unfunded accrued liability based upon present and prospective assets and liabilities of each fund as of July 1, 1986. Each retirement system is valuated biennially.
Funding Method The method of funding employed by each retirement system is commonly referred to as the entry age normal cost method.... This method established a normal cost of each fund as well as an unfunded accrued liability. The normal cost is the level percentage of total salaries required to fund the benefits, assuming this percentage has been contributed since each member's entry into the fund.
The unfunded accrued liability represents the excess of the present value of total liabilities over the present assets of the fund and the present value of expected future contributions for the normal cost.
]n order to maintain a fund on an actuarial sound basis, the rate of contribution should be such as to meet the normal cost in addition to making progress towards the amortization of the unfunded liability.
What to read after Annual Financial Report 1987?
You can find similar books in the "Read Also" column, or choose other free books by Montana. Public Employees' Retirement Board to read onlineMoreLess
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