USSGL Board Meeting 5/20/10Actuarial Liabilities1 Gwen Marshman USSGL Staff

USSGL Board Meeting 5/20/10Actuarial Liabilities2 The Issue Currently Agencies are reporting various types of activity in USSGL account 2690, “Other Actuarial Liabilities.” GAO and Treasury would like some of the activity separately reported because of materiality.

USSGL Board Meeting 5/20/10Actuarial Liabilities3 The Issue The USSGL can temporarily accommodate this request by adding footnotes that separate this activity within the USSGL account on the same reporting lines. The permanent fix is to add separate reporting lines and create new USSGL accounts to capture the specific activity.

USSGL Board Meeting 5/20/10Actuarial Liabilities4 The Proposal Separate specific activity from USSGL account 2690, “Other Actuarial Liabilities.” –2660, “Actuarial Liabilities for Federal Insurance and Guarantee Programs –2670, “Actuarial Liabilities for Treasury-Managed Benefit Programs

USSGL Board Meeting 5/20/10Actuarial Liabilities5 USSGL Proprietary Account Crosswalks USSGL Account No USSGL Account TitleBal SheetReclassified Balance Sheet 2660Actuarial Liabilities for Federal Insurance and Guarantee Programs Line 27 Line Actuarial Liabilities for Treasury-Managed Benefit Programs Line 27 Line 6.9 Page 3 of the Draft Actuarial Liability Scenario

USSGL Board Meeting 5/20/10Actuarial Liabilities6 USSGL Proprietary Account Attributes NoTitleNorm Bal Fed/ NonFedCov/ NotCov 2660Actuarial Liabilities for Federal Insurance and Guarantee Programs CNY 2670Actuarial Liabilities for Treasury-Managed Benefit Programs CNY C = Credit N = NonFed Y = Can be either Covered or Not Covered Page 3 of the Draft Actuarial Liability Scenario

USSGL Board Meeting 5/20/10Actuarial Liabilities7 References Transactions –USSGL Draft Actuarial Liabilities Scenario, USSGL Board Meeting 5/20/10 handout Definitions –USSGL Voting Ballot #10-01 handout Add:

USSGL Board Meeting 5/20/10Actuarial Liabilities8 Questions???