Actuarial Pension Liability
Definition
This account is used to record the amount recorded by the administering federal entities for actuarial present value of all future retirement benefits, based on projected salaries and total projected services less the actuarial present value of future normal cost contributions that would be made for and by the employees under the plan. (Refer to Federal Accounting Standards Advisory Board (FASAB) Statement of Federal Financial Accounting Standards (SFFAS) No. 5, "Accounting for Liabilities of the Federal Government," paragraph 71.) This account does not close at year-end.
Year-end: This account does not close at year-end.
Source: Section II ·
p1sec2-acctdef-2026.pdf
Required attributes & legal values
8For each attribute this account reports, these are the only domain values GTAS will accept for this account (Section IV).
Transactions
9Debit · Proprietary entry B420 To record the liability for costs to be funded in the future.
Credit · Proprietary entry D308 To record a prior-period adjustment that reduces the value of a liability.
Debit · Proprietary entry D312 To record a prior-period adjustment that increases the value of a prior-year liability.
Credit · Proprietary entry D570 To record a gain on change in long-term assumptions related to federal pensions, Other Retirement Benefits or Other Post Employment Benefits, including veteran's compensation.
Debit · Proprietary entry D571 To record a loss on change in long-term assumptions related to federal pensions, Other Retirement Benefits or Other Post Employment Benefits, including veteran's compensation.
Credit · Proprietary entry E106 To record the accrued benefits at the end of the accounting period for unpaid estimated costs incurred. This entry is recorded by the benefit administering agency.
Debit · Proprietary entry E514 To record the transfer-out of accounts payable and other liabilities to other federal entities without reimbursement.
Debit · Proprietary entry E610 To record the transfer-in of accounts payable and other liabilities from others without reimbursement.
Credit · Proprietary entry