Report on the 90% funding target of Public Act 88-0593.
| Data(s) |
10/11/2024
|
|---|---|
| Resumo |
The funded ratio places the unfunded liabilities in the context of the retirement system's assets. Expressed as a percentage of a system's liabilities, the funded ratio is calculated by dividing net assets by the accrued liabilities. The result is the percentage of the accrued liabilities that are covered by assets. At 100%, a fully funded system has sufficient assets to pay all benefits earned to date by all its members. Of course, in order to calculate the funded ratio, the accrued actuarial liabilities must be calculated and the actual value of plan assets must be determined. The former name for the Illinois Commission on Governmental Forecasting and Accountability was Illinois Economic and Fiscal Commission. "February 2006"--Colophon. "January 2006" Cover title. The funded ratio places the unfunded liabilities in the context of the retirement system's assets. Expressed as a percentage of a system's liabilities, the funded ratio is calculated by dividing net assets by the accrued liabilities. The result is the percentage of the accrued liabilities that are covered by assets. At 100%, a fully funded system has sufficient assets to pay all benefits earned to date by all its members. Of course, in order to calculate the funded ratio, the accrued actuarial liabilities must be calculated and the actual value of plan assets must be determined. Mode of access: Internet. |
| Formato |
con |
| Identificador | |
| Idioma(s) |
eng |
| Publicador |
[Springfield, Ill.] : Commission on Government Forecasting and Accountability, |
| Direitos |
Items in this record are available as Creative Commons Attribution. View access and use profile at http://www.hathitrust.org/access_use#cc-by-4.0. Please see individual items for rights and use statements. |
| Palavras-Chave | #Budget #Pension trusts |
| Tipo |
text |
