The portion of the actuarial present value of projected benefits (and expenses, if applicable), as determined under a particular actuarial cost method, which is not provided for by future normal costs. Under certain actuarial cost methods, the actuarial accrued liability is dependent upon the actuarial value of assets. (ASOP No. 4)
CreativeMinds WordPress Plugin ASB Glossary
Print Friendly, PDF & Email
LinkedInTwitterFacebookMore...