Under previous authoritative standards this amount was known as the unfunded actuarial accrued liability
(UAAL) or unfunded actuarial liability (UAL); under the GASB's new pension pronouncements, it will be referred to as the net pension liability (NPL).
2 million reduction in general and administrative expense C related parties from the reversal of an accrued liability
for acquisition and origination fees that will no longer be paid to the Trust's advisor.
When the latter exceeds the former, the result is what's called the unfunded actuarial accrued liability
, soon to be known as the net pension liability.
For retiree health benefits, studies estimate that the total unfunded actuarial accrued liability
for state and local governments lies between $600 billion and $1.
These checks are an accrued liability
for a municipality until paid to the rightful vendor or until applicable law allows the jurisdiction to claim the funds through escheatage.
The effects of a termination benefit on an employer's defined benefit pension or OPEB obligations (for example, a change in an employer's actuarial accrued liability
for pension benefits or postemployment healthcare benefits) should be accounted for and reported in accordance with the requirements of Statement 27 or Statement 45, respectively.
The common and simple approach used to compute the book-tax difference for these accrued liabilities is to subtract the ending balance from the beginning balance in the accrued liability
Currently, the Retirement Plan's assets exceed both the plan's accrued liability
as well as total liability as calculated by the plan actuary.
If the recurring item exception is elected, the economic performance test will be deemed to occur as of the close of the tax year, if the all-events test is satisfied, the accrued liability
is paid by the earlier of 81/2 months after the close of the tax year or the date on which the tax return for the year in question is filed and certain other requirements of Sec.
The accrued liability
figure is the present value of (1) benefits currently owed to retirees and (2) accrued benefits for active workers who will retire with these benefits.
Thus, the accrued liability
on the balance sheet would reflect the difference between cumulative accrued expense and amounts paid (or funded).
Among them are retirement age, cost of living increases, amortization period of the unfunded accrued liability
, employee and employer contributions, level of future benefits, and plan design.