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This document contains the actuarial valuation of the Defined Benefit Supplement Program of the California State Teachers\' Retirement System as of June 30, 2023. It provides detailed findings on

How to fill out milliman actuarial valuation

How to fill out milliman actuarial valuation

1. Gather the necessary data, including membership information, plan provisions, and financial statements.
2. Select the appropriate actuarial assumptions, such as mortality rates and discount rates.
3. Calculate the present value of future benefits based on the collected data and assumptions.
4. Determine the funding status of the pension plan by comparing the assets to the liabilities.
5. Prepare a report that summarizes the findings and provides recommendations for the plan sponsor.

Who needs milliman actuarial valuation?

1. Pension plan sponsors seeking to determine the funding status of their plans.
2. Organizations needing to comply with regulatory requirements regarding pension funding.
3. Companies looking to assess their future financial obligations related to employee benefits.
4. Investors or stakeholders interested in the financial health of the organization.

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What is milliman actuarial valuation?

Milliman actuarial valuation is a comprehensive analysis conducted to assess the financial status of a pension plan or insurance liability, utilizing actuarial methods to estimate future financial obligations and determine necessary funding levels.

Who is required to file milliman actuarial valuation?

Entities managing pension plans, insurance companies, and organizations that must comply with regulatory requirements regarding financial reporting of liabilities typically need to file a Milliman actuarial valuation.

How to fill out milliman actuarial valuation?

To fill out a Milliman actuarial valuation, one must gather relevant data regarding plan participants, plan benefits, and current financials, then apply actuarial methods and assumptions to calculate present value of future obligations, ultimately preparing the valuation report.

What is the purpose of milliman actuarial valuation?

The purpose of Milliman actuarial valuation is to provide an objective assessment of a pension plan's funding status and financial health, ensuring that obligations can be met and aiding in strategic decision-making for funding and benefit structures.

What information must be reported on milliman actuarial valuation?

The Milliman actuarial valuation report must include information such as the actuarial assumptions used, the demographic data of plan participants, the calculation of the present value of future benefits, funding progress, and recommendations for contribution levels.