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Actuarial services
Services

Actuarial Services

  1. Retirement Plan Design
  2. IAS19/PAS19 Actuarial Valuations
  3. FAS87 Actuarial Valuations
  4. Actuarial Studies
  5. Asset Liability Management for Retirement Funds
  6. Provident Fund Plans (DC)
  7. Self-funded Group Benefit Programs
  8. Surveys
  9. Seminars

Actuarial Team

Provident Fund Team

Actuarial Services
Retirement Plan Design
  1. Retirement Plan design and set-up, either defined benefit or defined contribution;
  2. Assistance in obtaining Bureau of Internal Revenue (BIR) approval for the plan’s tax-qualified status and in meeting other legal requirements;
  3. Drafting of proposed plan provisions or amendments to an existing plan;
  4. Determining the plan’s funding policy in line with corporate financial strategy;
  5. Monitoring of plan costs through periodic actuarial valuations and studies.
  6. Technical assistance also provided to Management in benefit negotiations under collective bargaining agreements.
IAS 19 and PAS 19 Actuarial Valuations
  1. Projected Unit Credit Actuarial Valuation
  2. Accounting & Disclosure Requirements
    1. Present Value of Benefit Obligations
    2. Liability Recognized in Balance Sheet
    3. Pension Expense
FAS 87 Actuarial Valuations
(as amended by FAS 132, 88 and 106)
  1. Projected Unit Credit Actuarial Valuation
  2. Accounting & Disclosure Requirements
Actuarial Studies
  1. Entry-age-normal actuarial valuations for establishing the plan’s funding policies
  2. Actuarial costs of proposed plan amendments
  3. Actuarial costs required under mergers or acquisitions.
  4. Demographic Studies/Experience Studies
  5. Mutual Benefit Associations cost studies
Asset Liability Management for Retirement Funds
  1. Matching growth of retirement fund assets to growth of actuarial liabilities (costs) under the retirement plan;
  2. Optimization of the matched asset portfolio, using variations of the Markowitz Efficient Frontier and stochastic simulations; and
  3. Advisory services on the investment strategy and policy for the retirement fund.
Provident Fund Plans (DC)
  1. Design and set-up of Provident Funds:
    1. drafting of plan provisions,
    2. design of systems administration;
    3. assistance in meeting legal requirements.
  2. Provident Fund Administration:
    1. monthly and quarterly reports on individual member accounts;
    2. benefit calculations
Self-funded Group Benefit Programs
  1. Insurance Pooling
  2. Actuarial cost studies for company-sponsored self-funded benefits:
    1. medical and hospitalization
    2. group insurance
  3. Premiums and annual reserves determined for self-funded benefits, based on company demographics.
  4. Assistance in sourcing other insurance coverage available on the market.
Surveys
  1. Employee Benefits Survey
    1. Up-to-date information on typical Employee Benefits in the market
    2. Provides a valuable management tool in understanding trends and maintaining a competitive edge.
  2. Investment Performance Survey
Seminars
  1. Plan Design and tax advantages
  2. IAS19/PAS 19 actuarial valuations
  3. Asset Liability Management related to retirement funds
  4. Topics of featured resource speakers
Actuarial Team
  1. Jericho S. Bautista, AASP
      2. Actuary
  2. Ian D. Keng, FLMI
      3. Assistant Manager
Provident Fund Team
  1. Estela M. Herrera
      2. Assistant Vice President
  2. Delio I. Samulde, CPA
      3. Assistant Manager
 
 
 
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