SFA Template 10 SFA Template 10

Special Financial Assistance by PBGC

Copy of pre-2021-final-sfa-assumption-summaries-template-10.xlsx

OMB: 1212-0074

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Overview

Version Updates
Template 10 Instructions
10 Assumption Summaries


Sheet 1: Version Updates

Version Updates










v20230727
Version
Date updated









v20230727 7/27/2023

Sheet 2: Template 10 Instructions

TEMPLATE 10











v20230727
Pre-2021 Zone Certification, Baseline Details, and Final SFA Assumption Summaries


























File name: Template 10 Plan Name, where "Plan Name" is an abbreviated version of the plan name.
Provide a table identifying and summarizing which assumptions/methods were used in each of the pre-2021 certification of plan status, the Baseline details (Template 5A or Template 5B), and the final SFA calculation (Template 4A or Template 4B).
This table should identify all assumptions/methods used, including those that are reflected in the Baseline provided in Template 5A or Template 5B and any assumptions not explicitly listed. Please identify the source (file and page number) of the pre-2021 certification of plan status assumption. Additionally, please select the appropriate assumption change category per SFA assumption guidance*. Please complete all rows of Template 10. If an assumption on Template 10 does not apply to the application, please enter “N/A” and explain as necessary in the “comments” column. If the application contains assumptions not listed on Template 10, create additional rows as needed.
See the table below for a brief example of how to fill out the requested information in summary form. In the example the first row demonstrates how one would fill out the information for a change in the mortality assumption used in the pre-2021 certification of plan status, where the RP-2000 mortality table was the original assumption, and the plan proposes to change to the Pri-2012(BC) table.

(A) (B) (C) (D) (E)

Source of (B) Assumption/Method Used in Most Recent Certification of Plan Status Completed Prior to 1/1/2021 Baseline Assumption/Method Used Final SFA Assumption/Method Used Category of assumption change from (B) to (D) per SFA Assumption Guidance
Base Mortality - Healthy 2019 Company XYZ AVR.pdf p. 55 RP-2000 mortality table Pri-2012(BC) mortality table Same as baseline Acceptable Change
Contribution Base Units 2020 Company XYZ ZC.pdf p. 19 125,000 hours projected to insolvency in 2024 125,000 hours projected through the SFA projection period in 2051 100,000 hours projected with 3.0% reductions annually for 10 years and 1.0% reductions annually thereafter Generally Acceptable Change
Assumed Withdrawal Payments -Future Withdrawals 2020 Company XYZ ZC.pdf p. 20 None assumed until insolvency in 2024 None assumed through the SFA projection period in 2051 Same as baseline Other Change
Retirement - Actives 2019 Company XYZ AVR.pdf p. 54
Same as baseline No Change

Add additional lines if needed.
*https://www.pbgc.gov/sites/default/files/sfa/sfa-assumptions-guidance.pdf

Sheet 3: 10 Assumption Summaries

Template 10




v20230727
Pre-2021 Zone Certification, Baseline Details, and Final SFA Assumption Summaries














PLAN INFORMATION






Abbreviated
Plan Name:






EIN:






PN:















(A) (B) (C) (D) (E)


Source of (B) Assumption/Method Used in Most Recent Certification of Plan Status Completed Prior to 1/1/2021 Baseline Assumption/Method Used Final SFA Assumption/Method Used Category of assumption change from (B) to (D) per SFA Assumption Guidance Comments
SFA Measurement Date N/A N/A

N/A

Census Data as of



N/A

DEMOGRAPHIC ASSUMPTIONS






Base Mortality - Healthy






Mortality Improvement - Healthy






Base Mortality - Disabled






Mortality Improvement - Disabled






Retirement - Actives






Retirement - TVs






Turnover






Disability






Optional Form Elections - Actives






Optional Form Elections - TVs






Marital Status






Spouse Age Difference






Active Participant Count






New Entrant Profile






Missing or Incomplete Data






"Missing" Terminated Vested Participant Assumption






Treatment of Participants Working Past Retirement Date






Assumptions Related to Reciprocity






Other Demographic Assumption 1






Other Demographic Assumption 2






Other Demographic Assumption 3






NON-DEMOGRAPHIC ASSUMPTIONS






Contribution Base Units






Contribution Rate






Administrative Expenses






Assumed Withdrawal Payments - Currently Withdrawn Employers






Assumed Withdrawal Payments -Future Withdrawals






Other Assumption 1






Other Assumption 2






Other Assumption 3






CASH FLOW TIMING ASSUMPTIONS






Benefit Payment Timing






Contribution Timing






Withdrawal Payment Timing






Administrative Expense Timing






Other Payment Timing














Create additional rows as needed.














Per ASOP 4, effective for measurement dates after February 15, 2023, when measuring pension obligations, the combined effect of assumptions is expected to have no significant bias (i.e., it is not significantly optimistic or pessimistic) for non-prescribed assumptions except when provisions for adverse deviation are included. If the SFA measurement date is after February 15, 2023, provide a statement indicating that in the signing Actuary’s professional opinion, the combined effect of non-prescribed assumptions used for measuring the pension obligations used to determine SFA does not have significant bias. Please note that this attestation only applies to the final SFA assumptions (see (D) above).
NOTE: Not required for plans with a measurement date before February 15, 2023
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