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. Actual costs include standard costs properly adjusted for applicable variances.Īctuarial 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. (This method is also known as the unit credit cost method without salary projection.).Īccumulating costs means collecting cost data in an organized manner, such as through a system of accounts.Īctual cash value means the cost of replacing damaged property with other property of like kind and quality in the physical condition of the property immediately before the damage.Īctual costs means (except for subpart 31.6) amounts determined on the basis of costs incurred, as distinguished from forecasted costs. The measure of the actuarial accrued liability at a plan’s inception date is the present value of the units of benefit credited to employees for service prior to that date. The measure of normal cost under this method for each cost accounting period is the present value of the units of benefit deemed to be credited to employees for service in that period. Accrued benefit cost method means an actuarial cost method under which units of benefits are assigned to each cost accounting period and are valued as they accrue i.e., based on the services performed by each employee in the period involved.
0 kommentar(er)
