This Employee Benefit Plan Audit Quality Center (EBPAQC) primer was developed to provide Center members a general understanding of the actuarial method and assumptions used in determining plan benefit obligations in defined benefit health and welfare plans under FASB ASC 965, Employee Benefit Plan Accounting—Health and Welfare Benefit Plans.
This primer addresses:
Plan benefit obligations
The actuarial method
Actuarial valuation
Actuarial valuation inputs
Actuarial assumptions
The actuarial valuation reports