846
PUBLIC LAW 93-406-SEPT. 2, 1974
[88 STAT.
section for a plan year shall include a complete actuarial statement applicable to the plan year which shall include the following: (1) The. date of the plan year, and the date of the actuarial valuation applicable to the plan year for which the report is filed. (2) The date and amount of the contribution' (or contributions) received by the plan for the plan year for which the report is filed and contributions for prior plan years not previously reported. (3) The following information applicable to the plan year for which the report is filed: the normal costs, the accrued liabilities, an identification of benefits not included in the calculation; a statement of the other facts and actuarial assumptions and methods used to determine costs, and a justification for any change in actuarial assumptions or cost methods; and the minimum contripOSf, p. 869. bution required under section 302. (4) The number of participants and beneficiaries, both retired and nonretired, covered by the plan. (5) The current value of the assets accumulated in the plan, and the present value of the assets of the plan used by the actuary in any computation of the amount of contributions to the plan required under section 302 and a statement explaining the basis of such valuation of present value of assets. (6) The present value of all of the plan's liabilities for nonforfeitable pension benefits allocated by the termination priority Post. p. 1025. categories as set forth in section 4044 of this Act, and the actuarial Regulations. assumptious used in these computations. The Secretary shall establish regulations defining (for purposes of this section) "termination priority categories" and acceptable methods, including approximate methods, for allocating the plan's liabilities to such termination priority categories. (7) A certification of the contribution necessary to reduce the accumulated funding deficiency to zero. (8) A statement by the enrolled actuary— (A) that to the best of his knowledge the report is complete and accurate, and (B) the requirements of section 302(c)(3) (relating to reasonable actuarial assumptions and methods) have been complied with. (9) A copy of the opinion required b^ subsection (a)(4). (10) Such other information regarding the plan as the Secretary may by regulation require. (11) Such other information as may be necessary to fully and fairly disclose the actuarial position of the plan. Such actuary shall make an actuarial valuation of the plan for every third plan year, unless he determines that a more frequent valuation is necessary to support his opinion under subsection (a)(4) of this section. pa^ny " ta"ement™ (^) ^^ somc or all of the benefits under the plan are purchased from and guaranteed by an insurance company, insurance service, or other similar organization, a report under this section shall include a statement from such insurance company, service, or other similar organization covering the plan year and enumerating— (1) the premium rate or subscription charge and the total premium or subscription charges paid to each such carrier, insurance service, or other similar organization and the approximate number of persons covered by each class of such benefits; and (2) the total amount of premiums received, the approximate number of persons covered by each class of benefits, and the total claims paid by such company, service, or other organization; dividends or retroactive rate adjustments, commissions, and adminis-
�
