UAAL

AcronymDefinition
UAALUnfunded Actuarial Accrued Liability (aka Unfunded Accrued Actuarial Liability)
UAALUniversity Admissions Advice Letter (Australia)
References in periodicals archive ?
The enhanced benefits, combined with economic volatility, made the County of San Diego's pension and retirement system one of its most vulnerable risks--from 2002 to present, the UAAL grew at an average rate of 10.7 percent, or an average of $111.1 million per year.
Prior to 2008, most cities did not report the UAAL for OPEBs.
Morningstar analysts also compiled aggregate pension data by state, including assets, funded ratio and UAAL per capita, along with individual pension plan data by state.
Both statements require measuring UAAL using accrual accounting, rather than pay-as-you-go accounting OPEB liabilities increase based on normal costs and decrease based on contributions and changes in investments that are used to finance the liability.
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.
The UAAL will typically appear in a related footnote and be disclosed with the municipality's bond offerings.
Actuarial accrued liability (AAL) $42,267,100 Actuarial value of plan assets $37,516,400 Unfunded actuarial accrued liability (UAAL) $4,750,700 Funded ratio (actuarial value of plan assets/AAL) 88.76% Covered payroll (annual payroll of active employees covered by the plan) $10,396,800 UAAL as a percentage of covered payroll 45.69% CHANGE IN DEFINITION
According to the Segal Bulletin, Moody's estimates that, if it adopts these proposed changes, fiscal 2010 reported UAAL for the 50 states and the local governments it rates (covering 3,500 pension plans) would increase from $766 billion to $2.2 trillion.
* The annual required contribution (ARC), which represents the amount the public employer should set aside each year to cover the OPEB earned by employees during the current year, in addition to any UAAL, amortized.
The liability that appears on the statement of net assets is not the entire unfunded actuarial accrued liability (UAAL)--the overall liability, after subtracting out any money already set aside to prefund the benefits--but the cumulative expense charges from prior years that have not been satisfied by the contributions the employer made in prior years.
As of the last valuation report (January 2017) the UAAL for city employees was reported at $3.5 million or less than 1% of personal income.
Because that method does not involve the calculation of the unfunded actuarial accrued liability (UAAL), it is impossible to prepare a schedule of funding progress using actuarial data provided by this method.