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Other Post -Employment Benefit Programs of the City of "" <br />Actuarial Valuation as of July 1, 2015 <br />(Concluded) <br />Projected Unit Credit (PUC) — An actuarial funding method where, for each individual, the <br />projected plan benefit is allocated by a consistent formula from entry date to assumed exit <br />date <br />Public Agency Miscellaneous (PAM) — Actuarial assumptions used by CalPERS for most non - <br />safety public employees. <br />Select and Ultimate — Actuarial assumptions which contemplate, .rates which differ by year <br />initially (the select period) and then stabilize at a constant long-t,rm tato (the ultimate rate) <br />Trend — The healthcare cost trend rate, defined as the rate 4ghangeAn per capita health <br />claims costs over time as a result of factors such as medical inflafization of healthcare <br />services, plan design and technological developments <br />Unfunded Actuarial Accrued Liability (UAAL) -,The excess of the actuarial ,accrued liability <br />over the actuarial value of plan assets <br />Unit Credit (UC) -- An actuarial funding method where, for each. individual, the unprojected <br />plan benefit is allocated by a consistent,formul0rom entry date to assumed exit date <br />Vesting — As defined by the plan, "requirements which when met make a plan benefit <br />nonforfeitable on separation of service b6fpre:retirementeligibility <br />B ckmore � <br />