Actuarial Valuations

The Administrative Board must ensure the Plan is able to meet the long term disability obligations as they occur and ensure the long-term solvency of the Plan.  In order to accomplish this, the Bylaw requires that a valuation of the Plan be completed at least every three years.  The purpose of the valuation is to provide an actuarial estimate of the present value of the Plan's liabilities and assets plus determine whether the assets are adequate to meet the obligations or a contribution increase is required.  The Plan's current actuary is Aon.