- Froogled By:
- Elias Makere, FSA, MAAA
- Last Froogled:
ASOP 3 | §3.8 | BENEVOLENCE FUNDS AND FINANCIAL ASSISTANCE SUBSIDIES
ASOP 3 | Commentary Section 3.8 | COMMENT ON SECTION 3.8
| Comment | Response |
|---|---|
| One commentator suggested addressing the situation where the benevolence funds are being used for something other than residential financial assistance. | The reviewers believe that section 3.8 appropriately addresses this situation and note that it states “the actuary should determine the benevolence funds or financial assistance subsidies available as well as the potential future liabilities for contractual residents or members who do not pay the contractual fees.” Therefore, the reviewers made no change in response to this comment. |
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