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

OPEVS

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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Interfaces