Actuarial Life Insurance Liability
Definition
This account is used to record the amount recorded by administering federal entities for the expected present value of future outflows to be paid to, or on behalf of, existing policy holders, less expected present value of future net premiums to be collected. (Refer to Federal Accounting Standards Advisory Board (FASAB) Statement of Federal Financial Accounting Standards (SFFAS) No.51, "Insurance Programs," paragraphs 53-64). 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).
Begin/End
BulkFile attribute
B
E
Debit/Credit
BulkFile attribute
D
C
Fed/Nonfed
BulkFile attribute
N
Fund Type
TAS attribute
CF
DF
EC
EG
EM
EP
ER
ES
ET
GA
TR
UG
US
UT
Reporting Type Code
TAS attribute
E
F
U
Financing Account Code
TAS attribute
D
G
N
TAS Status
TAS attribute
U
E
Trans Code
TAS attribute
X
N
Transactions
7
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 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
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 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