OPEVSTM
OPEVSTM - PFPC's post-employment benefits valuation system - values medical, disability, severance and life insurance benefits.
A comprehensive solution for FAS 106, FAS 132, FAS 112 and SOP 92-6, OPEVS accommodates trend assumptions, attribution methods and sensitivity analysis, as well as multiple decrement demographic assumptions and year-by-year financial assumptions.
Training Classes
Valuation Models
- Model I is a quick and easy way to value post-retirement benefits.
It accepts net claims, net premiums or employer costs as input and applies financial, demographic and medical trend assumptions to value these benefits.
- Model II allows different medical trend assumptions to be applied to gross claims and Medicare
- Model III studies plan design. It uses trend assumptions on covered expenses, deductibles and co-payments.
Different assumptions and designs can be applied to various plan benefits, such as hospitalization, dental, etc.
Various Medicare integration methods can be used (i.e., coordination of benefits, supplemental or carve-out)
Valuation Features
- Per capita claims costs for each age and projection year
- Explicit reporting for FAS 106, including medical trend sensitivity calculations
- Projections by age and projection year of active and nonactive population, covered expenses, deductibles, co-payments, lifetime maximums, Medicare payments, member contributions and cash flows
- Costs under the projected unit credit cost method, based on plan’s attribution period
- User modifications to redefine variables
- FAS 106/132 accounting report
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OPEVS
Valuation Models
Valuation Features
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