TITLE:
Mathematical Model of Actuarial Valuation of Social Benefits in Latin America under IAS 19
AUTHORS:
Evaristo Diz Cruz, Jeffrey T. Query
KEYWORDS:
Defined Benefits, IAS 19, FASB 87, Benefit Method, Projected, Actuarial Models, Liabilities, Actuarial Costs
JOURNAL NAME:
Open Access Library Journal,
Vol.10 No.10,
October
31,
2023
ABSTRACT: Development of a generic model for the valuation of Labor Liabilities under the international standards IAS 19 and FASB 87, for defined benefits, generally granted in Latin American countries, following [1]. The contribution of this work is to provide a detailed valuation tool for defined benefits that depend structurally on a salary and creditable service over time. Likewise, assess a defined benefit plan for termination of employment under 2 very similar current approaches, but with different liabilities [2].