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Old 10-21-2019, 09:43 PM
caddya89 caddya89 is offline
SOA
 
Join Date: Jan 2012
Location: Toronto
Studying for RET FRC (Canada 🍁
College: Alumni Univ. of Toronto - Actuarial Science, Stats, Econ & Math
Posts: 9
Default Going concern amortization

As you know, under the new ON funding rules, going concern (GC) unfunded liabilities are to be amortized over 10 years with 1 year deferral.

I'm wondering what happens during the first year following a new valuation where there are existing GC special payments from the previous valuation. Do you get a fresh start and defer all GC special payments for the first year (thus making zero GC amortization payments during that year) or do you have to keep contributing the previously established GC special payments (from the last valuation) during the first year?

Many thanks in advance!
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