Actuarial Liabilities Gwen Marshman USSGL Staff Actuarial Liabilities

Actuarial Liabilities Gwen Marshman USSGL Staff Actuarial Liabilities 1 USSGL Board Meeting 5/20/10

The Issue Currently Agencies are reporting various types of activity in USSGL account 2690, “Other Actuarial Liabilities. ” GAO and Treasury would like some of the activity separately reported because of materiality. Actuarial Liabilities 2 USSGL Board Meeting 5/20/10

The Issue The USSGL can temporarily accommodate this request by adding footnotes that separate this activity within the USSGL account on the same reporting lines. The permanent fix is to add separate reporting lines and create new USSGL accounts to capture the specific activity. Actuarial Liabilities 3 USSGL Board Meeting 5/20/10

The Proposal • Separate specific activity from USSGL account 2690, “Other Actuarial Liabilities. ” – 2660, “Actuarial Liabilities for Federal Insurance and Guarantee Programs – 2670, “Actuarial Liabilities for Treasury-Managed Benefit Programs Actuarial Liabilities 4 USSGL Board Meeting 5/20/10

USSGL Proprietary Account Crosswalks Page 3 of the Draft Actuarial Liability Scenario USSGL Account No USSGL Account Title Bal Sheet Reclassified Balance Sheet 2660 Actuarial Liabilities for Federal Insurance and Guarantee Programs 2670 Actuarial Liabilities for Treasury-Managed Benefit Programs Line 27 Line 6. 8 Line 6. 9 Actuarial Liabilities 5 USSGL Board Meeting 5/20/10

USSGL Proprietary Account Attributes Page 3 of the Draft Actuarial Liability Scenario No Title Norm Bal Fed/ Non. Fed Cov/ Not. Cov 2660 Actuarial Liabilities for Federal Insurance and Guarantee Programs C N Y 2670 Actuarial Liabilities for Treasury-Managed Benefit Programs C N Y C = Credit N = Non. Fed Y = Can be either Covered or Not Covered Actuarial Liabilities 6 USSGL Board Meeting 5/20/10

References • Transactions – USSGL Draft Actuarial Liabilities Scenario, USSGL Board Meeting 5/20/10 handout • Definitions – USSGL Voting Ballot #10 -01 handout Add: 2660 2670 Actuarial Liabilities 7 USSGL Board Meeting 5/20/10

Questions? ? ? Actuarial Liabilities 8 USSGL Board Meeting 5/20/10