The purpose of this educational note is to provide guidance to actuaries for determining commuted values for pension plans that are covered under Subsection 3570. A separate educational note has been prepared for the balance of Section 3500. Input from some members of the designated group on the revised commuted value standard was solicited in the development of the note. In addition, the content of this educational note was based on questions submitted to the Committee on Pension Plan Financial Reporting (PPFRC) after the release of the revised Section 3500 of the Practice-Specific Standards for Pension Plans – Pension Commuted Values on January 24, 2020.
