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Froogle 1.1.1.7
Froogled By:
Elias Makere, FSA, MAAA
Last Froogled:

CONTRIBUTION ALLOCATION PROCEDURE

a procedure that uses an actuarial cost method to determine the actuarially determined contributions for a plan (eg, for prefunding a retiree group benefits program). The methods include – but are not limited to:
• an asset valuation method;

• an amortization method; and/or

• an output smoothing method.
The procedure may produce:
(a) a single value (eg, a normal cost plus an amortization payment [of the unfunded actuarial accrued liability]); or

(b) a range of values (eg, the range from the ERISA minimum required contribution [to the maximum tax-deductible amount]).
The “Contribution Allocation Procedure” term does not relate to the process of determining the participant contribution.
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