Overview
Valuations & projections for pension and OPEB plans
Used worldwide by pension actuaries & investment professionals
Census Data
Complete data screening
- Status reconciliations
- Duplicates
- Missing and invalid values
- Unexpected changes
- Custom screening tests
Powerful data editing
- Importing and merging
- Defining fields by expression and table lookup
- Resolving duplicates
- Change history
Frequency tables and statistical reports
- Age / service scatter charts
- Custom reports
Valuations
Complex benefit formulas
- Pension plans with final average, career average, cash balance, pension equity, floor / offset, project and prorate, and more…
- Medical, life insurance, and disability plans with defined dollar benefits, employer contribution caps, decreasing life insurance, lifetime maximums, and more…
Complex assumptions
- Assumptions by location
- Segment and yield curve interest rates
- Generational and pre/post-commencement mortality
Complete sample lives
Results by individual
Automated sensitivity analysis
Contributions & Expense
Maximum flexibility
- Myriad of options for contribution policy, asset smoothing methods, etc.
Relevant laws and regulations
- Contributions and expense are determined according to the relevant law and accounting standard
Complete workpapers
Forecasts
What-if scenarios
- Economic scenarios (inflation, interest rates, returns, …)
- Future plan amendments
- Changes to contribution or actuarial policy
- Mergers & acquisitions
- Population changes, open or closed group
Integrated assets and liabilities
- Inflation affects both assets and liabilities
- Interest rates connect liabilities, fixed income returns, and lump sum payouts with one another
Deterministic and stochastic forecasting
- ALM, LDI
- Dynamic asset allocation
Report Writing & Output
Report writing
- Integrated report writer with Microsoft Word templates
Custom output
- Compare or combine any number of runs
- Detailed results by benefit, status, subtotal, etc.
- Custom templates for easy reuse
Export for U.S. government forms
Additional Tools
- Gain/loss Analysis
- Experience Studies
- Administration Factors
- U.S. Nondiscrimination Testing
- U.S. Social Security PIA
- Plan sponsor tool – see ProVal PS
Grid Platform
Speed
Substantial speedups of CPU intensive runs by distributing them across a network of computers.
Shared resource
Available to all ProVal users connected to a shared network.
Unlimited local processors
Utilize all local processors. Thus, speed ups don’t require a grid of networked computers.