M & K Employee Solutions, Inc. v. Trustees of IAM Nat. Pension · ¶38

With this understanding of actuarial assumptions, petitioners' proposed interpretation of § 1391 falls apart. Because actuarial assumptions are tools used to calculate UVBs rather than hard data about the plan, they cannot be “frozen” on the measurement date. Section 1391's “as of” requirement sets the reference point for the factual inputs into the UVB calculation. It has no bearing on when actuaries must select the tools, including assumptions, they use to calculate a plan's UVBs.

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