Both the Limited and Guided AMM Service packages provide you with the following:
- Required GASB 45 financial information and footnote disclosures including:
- Annual required contribution, as a dollar amount and a percentage of payroll, identifying normal cost, the outstanding balance and amortization amount for each component of the unfunded actuarial accrued liability
- Annual OPEB cost as a dollar amount and a percentage of payroll
- Reconciliation of net OPEB obligation during the current year and projected net OPEB obligation at the end of the year
- Descriptions of:
- Actuarial methods used, including actuarial funding method and UAAL amortization policy
- Actuarial assumptions
- Data used in the valuation, including age/service distribution table(s)
With the Limited Assistance package, simply submit your plan and member data in the questionnaire and spreadsheet provided by GASB Assist. One of our qualified actuaries will review your data, set the claim cost, select key assumptions based on AMM guidelines and prepare your valuation. Within 4 weeks after the date all required information has been submitted, your final report will be uploaded to your secure private login area on our website. Expedited service is available for an additional fee.
Although we are available to answer basic questions about the valuation process via phone, the Limited Assistance package does not include technical support related to the completion of forms requesting plan provisions and participant details. The fee for a Limited Assistance valuation is $1,850. Discounts are available to purchasing coalitions.
The Guided Assistance package begins with a pre-valuation discussion in which we outline the data and inputs needed, as well as the overall valuation process. You then submit your plan and participant data in any electronic format you prefer. Typically, there is a follow-up phone call in which we will discuss the key assumptions for the valuation. A GASB Assist actuary will then assemble the data from the files and information submitted, set the claim cost, select key assumptions according to simplified AMM guidelines and perform your AMM valuation. Within 4 weeks after the date all required information has been submitted, your final report will be uploaded to your secure private login area on our website. Expedited service is available for an additional fee. The fee for a Guided Valuation is $2,250. Discounts are available to purchasing coalitions.