Transcription of DoD Office of the Actuary, December 2015
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DoD Office of the Actuary, December 2015
DoD Office of the actuary , December 2015 Page 2 The DoD Office of the actuary (OACT) annually performs two MERHCF valuations. The primary one is for funding purposes, is governed by Chapter 56 of Title 10 , and must use methods and assumptions approved by the DoD Medicare-Eligible Retiree Health Care Board of Actuaries (Board). As noted above, details of the funding valuation are described in OACT s annual Valuation of the Medicare-Eligible Retiree Health Care Fund. The other valuation is for financial statement purposes and is governed by FASAB standards. For the September 30, 2015, financial statement valuation, OACT determined an SFFAS 33 equivalent discount rate of (compared to in the previous year), using a 10-year average of quarterly zero coupon Treasury spot rates. These spot rates are based on the Department of Treasury Office of Economic Policy s 10-year Average Yield Curve for Treasury Nominal Coupon Issues (TNC yield curve), which represents average rates from April 1, 2005, through March 31, 2015.
DoD Office of the Actuary, December 2015 Page 2 The DoD Office of the Actuary (OACT) annually performs two MERHCF valuations. The primary one is for funding purposes, is governed by Chapter 56 of Title 10 U.S.C., and must use methods and assumptions
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