This EBPAQC primer was developed to provide a general understanding of the actuarial method and assumptions used in measuring the actuarial present value of accumulated plan benefits under FASB ASC 960, Employee Benefit Plan Accounting — Defined Benefit Pension Plans.
This primer addresses:
Accumulated plan benefits
The actuarial method
Actuarial valuation
Actuarial valuation inputs (including plan provisions and census data)
Actuarial assumptions (including economic and demographic assumptions)
The actuarial valuation report