UAAL

AcronymDefinition
UAALUnfunded Actuarial Accrued Liability (aka Unfunded Accrued Actuarial Liability)
UAALUniversity Admissions Advice Letter (Australia)
References in periodicals archive ?
We next analyze the UAAL per capita for both pensions and OPEBs in the 61 California municipalities, again with an eye of comparing the bankrupt cities to the cities that did not file for bankruptcy.
Only in 2005 and 2006 is Stockton's UAAL per capita above the median, but in the years preceding Stockton's bankruptcy filing, unfunded pension obligations were at or below the median for cities in the state.
This amount is the normal cost for the fiscal period, computed in a similar manner to normal pension cost, plus any amortization el the UAAL (or funding excess.
A net OPEB obligation is arrived at, which is the cumulative difference between annual costs, including the UAAL (or asset) and contributions.
In fact, catching up with the UAAL could more than double employer contributions--big money added to town and city and school budgets if nothing is done.
A higher discount rate can significantly reduce the annual OPEB cost and UAAL, which is a strong incentive for municipalities to fully or partially fund their OPEB obligations.
Exhibit 2 shows the five states with the lowest UAAL per capita in the 2009-2011 time frame.
Exhibit I: Assets, Liabilities, and Annual Required Contributions for All States, 2009-2011 * State Name Date of Unfunded UAAL Report Liability Per Unfunded (in millions) Capita Alabama 2010 4,053 860.
The UAAL is the excess of the actuarial accrued liability as determined under the plan's actuarial cost method over the plan's actuarial value of assets.
Thus, the true economics of a POB transaction are subject to market fluctuations - a risk which increases with a POB transaction since it results in a lump-sum investment to cover the UAAL rather than averaging the investment through annual contributions.
Fitch views positively the parish's recent actions to reduce the UAAL which include limiting eligibility and reducing the parish's premium contributions.
Fitch notes that staffing reductions and changes to health care benefits have reduced the OPEB UAAL dramatically from the $306 million recorded in the previous actuarial study.