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ADDENDUM NO. 1Kansas City Area Transportation Authority 1350 E. 17th Street Kansas City, Missouri 64108IFB # 15801225 Actuarial for GAS 43 & 45 ReportingIssue Date: July 22, 2015This Addendum is hereby
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How to fill out actuarial for gasb 43

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To fill out actuarial for GASB 43, follow these steps:
02
Obtain all relevant financial statements and data related to the pension plan.
03
Identify all pension plan participants and collect their demographic information, such as age, service years, and salary history.
04
Gather actuarial assumptions, including discount rates, mortality rates, salary increase rates, and retirement rates.
05
Use actuarial software or actuarial calculators to perform calculations and projections based on the collected data and assumptions.
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Determine the actuarial value of the pension plan assets and liabilities.
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Prepare actuarial reports and summarize the findings, including the annual required contribution (ARC) and the funded status of the plan.
08
Review and verify all calculations and reports for accuracy and compliance with GASB 43 standards.
09
Present the actuarial report to the relevant stakeholders, such as the government entity, accounting firm, or pension board, for review and decision-making.
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Make any necessary adjustments or recommendations based on the presented actuarial report and implement the changes.
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Keep records of all actuarial data, reports, and supporting documentation for future reference and auditing purposes.

Who needs actuarial for gasb 43?

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Government entities, such as state and local governments, need actuarial for GASB 43.
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Pension boards and retirement systems that manage pension plans fall under GASB 43 requirements.
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Accounting firms and auditors responsible for reviewing financial statements with pension plan obligations must consider actuarial for GASB 43 compliance.
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Actuaries and actuarial consultants are also involved in providing actuarial services for GASB 43.

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Actuarial for GASB 43 refers to the actuarial valuations required to calculate and report the OPEB (Other Post-Employment Benefits) liability and related information for governmental entities.
Governmental entities that provide Other Post-Employment Benefits (OPEB) are required to file actuarial reports for GASB 43.
Actuarial reports for GASB 43 are typically filled out by hired actuaries who perform the necessary calculations and provide the required information based on actuarial standards.
The purpose of actuarial reports for GASB 43 is to determine and report the present value of estimated OPEB obligations and related information to ensure transparency and accountability in financial reporting.
Actuarial reports for GASB 43 must include detailed calculations of the OPEB liability, actuarial assumptions used, demographic data of plan participants, and other relevant information.
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