In the first year of its use, close to $100 million of favorable and sustained actuarial adjustments
scheme mimics the functioning of the DC arrangement in that it allows retirement within the age range 62-70, with actuarial adjustments
relative to the pension benefit the individual is entitled to if she retires at the "normal" age of 67.
This increase in the 2017 Quarter was primarily due to reduced recoveries at our Gibson South and Tunnel Ridge mines, year-end actuarial adjustments
to workers compensation expense and higher coal inventory charges, offset in part by a favorable production mix from ARLPs lower-cost operations in the Illinois Basin; all as compared to the 2016 Quarter.
Compared to last quarter, net income was down $94 million or 42%, as the prior quarter included favourable actuarial adjustments
reflecting management actions and assumption changes.
Meanwhile, the bottom line for fiscal 2005 included a $6.7 million charge for legal settlements partially countered by a $2.8 million benefit from actuarial adjustments
to self-insurance reserves.
Fiscal 2006 net was buoyed by the abovementioned $6.6 million gain on the sale of the Lathrop facility, as well as $5.8 million of after-tax actuarial adjustments
to self-insurance reserves.
To correct this incentive problem, there has been a move towards early retirement arrangements that are funded and that make actuarial adjustments
to benefits that depend on the age of early retirement.
The Value Equation allows employers to benchmark all its plans on various measures of cost and quality, specifically: baseline plan costs; actuarial adjustments
; plan financial metrics, including debt and income (at for-profit plans); and quality performance.
The individual's effective time horizon determines his or her response to the earnings test for receipt of Social Security benefits and the actuarial adjustments
of postponed benefits, including the delayed retirement credit.
One additional reason I question the validity of Niehaus's claims is that his model omits key factors for pension claim valuation--such as actuarial adjustments
, employee age, duration of the pension claim--or any measure of pension claim risk in relation to some economy-wide benchmark.
Aurora s annual profit before tax of $20.7 million would have been significantly higher if not for the impact of actuarial adjustments
, including $17.4 million attributable to superannuation liabilities.
The studies, conducted by Coopers & Lybrand on behalf of the Financial Executives Institute, the Institute of Management Accountants and the National Association of College and University Business Officers, indicated the health care claims administration systems of most employers, particularly small and medium-sized ones, are incapable of providing sufficiently reliable information to eliminate the need for actuarial adjustments
to historical claims data.