Quantify FR User Guide

Quantify Financial Reporting February 2022 – Release 2.
Quantify FR User Guide
This guide provides a basic introduction to the Financial

Reporting module of Quantify ("Quantify FR") which is used
to produce IAS 19, FRS 102 and US GAAP accounting
results and reports as well as Canadian, Irish and US
funding results and reports.
Retirement Systems Group

CONTENTS
Introduction ............................................................................................................................................... 1
What does it produce? .................................................................................................................. 1
Why use it? ................................................................................................................................... 1
Features of FR .............................................................................................................................. 1
System Support ............................................................................................................................ 2
Clients & Plans.......................................................................................................................................... 4
Client Basic Info and Plan Sponsor Tabs ...................................................................................... 4
Plan Information ............................................................................................................................ 5
Report Documents Tab ............................................................................................................... 12
File Locations Tab ....................................................................................................................... 12
Preparing your Liabilities for use in Quantify ........................................................................................... 14
Creating Liability Results using the Quantify Accounting Input Tool ........................................... 14
Importing Liability Results into Quantify (single import)............................................................... 15
Importing Multiple Liability Results into Quantify in a single process .......................................... 16
US Pension Funding Workflow Guides ................................................................................................... 17
Intended Audience ...................................................................................................................... 17
Intended Use ............................................................................................................................... 17
Overview of Guides ..................................................................................................................... 17
Guide 1 – Initialization using prior year funding results ............................................................... 18
Guide 2 – Using FR to perform funding calculations for on-going reporting ................................ 20
Guide 3 – Scatter charts for active participants ........................................................................... 24
Canadian Pension Funding Workflow Guides ......................................................................................... 32
Intended Use ............................................................................................................................... 32
Guide 1 – Initialization using prior valuation funding results ........................................................ 33
Guide 3 – Correcting Input Errors in the Initialization .................................................................. 43
Irish Pension Funding Workflow Guides ................................................................................................. 45
Intended Use ............................................................................................................................... 45
Guide 1 – Initialization using prior valuation funding results ........................................................ 46
FAS Pension & FAS OPRB Workflow Guides......................................................................................... 51
Intended Use ............................................................................................................................... 51
Overview of guides...................................................................................................................... 51
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Guide 1a –Initialization using FAS Pension or FAS OPRB disclosure results ............................. 52
Guide 1b – Duplicating NPBC at Initialization ............................................................................. 54
Guide 2 – Using FR to perform FAS Pension or OPRB calculations for on-going reporting ....... 56
Guide 3 – Implementing Policy Changes .................................................................................... 62
Guide 4 – Granular Interest Cost Approach ................................................................................ 64
IAS 19 & FRS 102 Workflow Guides ....................................................................................................... 71
Intended Use ............................................................................................................................... 71
Guide 1a – Initialization using IAS 19 or FRS 102 disclosure results .......................................... 72
Guide 1b – Duplicating Net Benefit Expense at Initialization ....................................................... 74
Guide 2 – Using FR to perform IAS 19 or FRS 102 calculations for on-going reporting.............. 76
Unfunded and Part Funded Plans ........................................................................................................... 82
Overview of support for accounting valuations ............................................................................ 82
Unfunded plans ........................................................................................................................... 83
Part funded plans ........................................................................................................................ 84
Bulk Processing ...................................................................................................................................... 86
Overview ..................................................................................................................................... 86
Import multiple liability files in one process ................................................................................. 86
Create multiple Asset Scenarios and input all transactions in one process ................................ 87
Create multiple disclosure, NPBC or Re-Initialization scenarios in one process ......................... 90
Launching and unlocking multiple scenarios ............................................................................... 95
Bulk Edit and Launch .................................................................................................................. 95
Downloading Internal Worksheets and client reports .................................................................. 96
Create multiple FAStrack Sets in one process ............................................................................ 97
Customizing your client report................................................................................................................. 98
Overview ..................................................................................................................................... 98
Report Content and Style ............................................................................................................ 99
Consultant signatures ................................................................................................................. 99
Appendix A and B uploads ........................................................................................................ 100
Client Report Text (CRT) .......................................................................................................... 101
Customizing the number of decimal places on percentages appearing in client reports ........... 108
Regional accounting report templates ....................................................................................... 108
How to upload Word documents ............................................................................................... 109
Apply Rounding and Scaling Factors ........................................................................................ 109
Participant Data Display ............................................................................................................ 110
Disclosure exhibits and cover letter ...................................................................................................... 112
Overview ................................................................................................................................... 112
Excel-based accounting exhibits ............................................................................................... 112
Cover Letter .............................................................................................................................. 112
Additional details on the Excel-based accounting exhibits ........................................................ 112
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Additional details on the Cover Letter ....................................................................................... 113
Applying Overrides................................................................................................................................ 114
Feature overview....................................................................................................................... 114
Overriding weighting factors for expected cash-flows ............................................................... 114
Interest on service cost & deducting administrative expenses from EROA ............................... 115
Expected Employee and Employer Contributions ..................................................................... 115
Adjust Liability Results .............................................................................................................. 116
Override Calculated Accounting Results ................................................................................... 117
Guidance on using the Override Event for settlements / curtailments etc. ................................ 118
Overriding FR Accounting Liability Results ............................................................................... 118
Adding Fixed Amounts to Accounting Liabilities ........................................................................ 118
Reviewing Internal Worksheets where overrides have been applied ........................................ 119
Reviewing Project List to identify where overrides have been applied ...................................... 119
Special Events (including mid-year events) .......................................................................................... 121
Special events within Quantify FR............................................................................................. 121
Curtailment at the Beginning of the Year (NPBC Scenario) or at the End of the Year (Disclosure
Scenario)................................................................................................................................... 121
Settlement at the Beginning of the Year (NPBC scenario) or at the End of the Year (Disclosure
Scenario)................................................................................................................................... 122
Calculating effect of mid-year special events ............................................................................ 122
Interim Reporting .................................................................................................................................. 125
Interim reporting functionality within Quantify FR ...................................................................... 125
Interim reporting outputs ........................................................................................................... 125
Consolidated Reporting ........................................................................................................................ 126
Overview ................................................................................................................................... 126
Creating and Launching a New CRS in Quantify FR – steps involved ...................................... 126
Liability Sensitivities .............................................................................................................................. 129
Applying Taxes on Contributions (IAS 19 rev 2011 only) ...................................................................... 131
Overview ................................................................................................................................... 131
Calculations in Quantify FR....................................................................................................... 131
Exporting Quantify FR results to FAStrack............................................................................................ 133
Overview ................................................................................................................................... 133
Getting Started (consolidation actuary & local actuary)............................................................. 133
Setting Up a Corporate Consolidation Client in Quantify (consolidation actuary) ...................... 133
Local Clients in the EMEA Environment.................................................................................... 135
Valuation Changes order in Quantify FR Disclosure ................................................................. 139
Creating multiple FAStrack sets in one process ........................................................................ 140
Importing the Quantify FR FAStrack Set into FAStrack (local actuary) ..................................... 141
FR Import for a FAStrack Set for Liability Sensitivities .............................................................. 143
Things to Note ........................................................................................................................... 145
Exporting Quantify FR results to Swift .................................................................................................. 146
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Overview ................................................................................................................................... 146
Using the Swift Data Transfer (SDT) tool .................................................................................. 146
Things to Note ........................................................................................................................... 148
Importing from FAStrack, Channel or Swift ........................................................................................... 149
Overview ................................................................................................................................... 149
Generating the output file from FAStrack .................................................................................. 150
Generating the output file from Channel ................................................................................... 150
Generating the output file from Swift ......................................................................................... 150
Importing into Quantify FR ........................................................................................................ 151
One-Stop Accounting Valuations .......................................................................................................... 153
Overview ................................................................................................................................... 153
One-stop launch of a disclosure scenario ................................................................................. 153
Generated reports ..................................................................................................................... 153
Override fields for disclosure scenarios .................................................................................... 154
Change to expected rate of return for US GAAP disclosure scenarios ..................................... 154
Sensitivities tab for US GAAP disclosure scenarios .................................................................. 154
Selection of valid liability results ................................................................................................ 154
Bulk disclosure scenarios .......................................................................................................... 154
Reconciliation of Results in FAS Reports.............................................................................................. 156
Overview ................................................................................................................................... 156
Reconciliation of NPBC and Funded Status.............................................................................. 156
Flow of Calculations .................................................................................................................. 156
Special Situations...................................................................................................................... 157
Additional Notes ........................................................................................................................ 158
Calculation Example ................................................................................................................. 158
Roll Forward of Accounting Results ...................................................................................................... 165
Overview ................................................................................................................................... 165
Basic Information tab - selecting the base year NPBC scenarios ............................................. 166
Parameters tab ......................................................................................................................... 167
Results tab ................................................................................................................................ 167
Reports tab ............................................................................................................................... 167
Workflow tips ............................................................................................................................. 167
Liability Rollforward in Quantify FR ....................................................................................................... 168
Overview ................................................................................................................................... 168
Underlying calculation methodology.......................................................................................... 168
Cost Allocation ...................................................................................................................................... 169
Overview ................................................................................................................................... 169
Support for Cost Allocations within Quantify FR ....................................................................... 169
"Top-down" cost allocation ........................................................................................................ 170
"Bottom-up" cost allocation (may be of particular interest to client teams with unfunded plans)170
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Quantify Financial Reporting - Introduction
INTRODUCTION
Quantify Financial Reporting is a global WTW system for the calculation and reporting of employee benefit accounting across
all our offices. In addition, it supports the funding calculations and related reporting for Canadian, Irish and US pension plans.
The Quantify Financial Reporting functionality enables consistent accounting calculations and client reports to be produced
globally. The Quantify FR module handles the main global accounting standards and produces standard disclosure and
expense client reports.
What does it produce?

Quantify FR currently caters to accounting reporting under IAS 19, FRS 102, FAS Pension and FAS OPRB and required
funding reporting for Canada, the US and Ireland.
▪ IAS 19/FRS 102 valuation reports containing year-end disclosure information

▪ IAS 19/FRS 102 valuation reports including following year estimated expense
▪ FAS Pension/OPRB valuation reports containing the calculation of net periodic cost
▪ ASC 715 (US GAAP) reports containing year-end disclosure information
▪ Automated link to our global consolidation tool, FAStrack
▪ PPA funding valuation reports containing minimum and maximum contribution requirements
▪ PPA AFTAP certification, stand-alone ASC 960 reports and stand-alone ASOP 51 reports
▪ Annual funding notice for tax-qualified US pension plans
▪ Outputs supporting US government form filings
▪ Irish funding valuation results and valuation reports
▪ Canadian funding valuation results and valuation reports in English for all jurisdictions and optionally French for
Quebec
▪ Automated link to our global forecasting tool, Swift
Why use it?

▪ Produces WTW's global accounting and funding reports with standardized text, which results in greater efficiency
▪ Performs automated calculations approved by the Global Accounting Team - reduces risk of human arithmetic error
and standardizes calculation methods
▪ A single application to handle all FAS, FRS, IAS, Canadian funding, Irish funding and US funding calculations
▪ Cases requiring the use of FAStrack will be quicker to process
Features of FR
▪ Standard reports
▪ Internal worksheets showing detailed development of all numbers in report
▪ Database storage of results, including flagging the final set of results for easy access the following year
▪ Flexible date, currency and number formats for client reporting
▪ Consistent Internal Worksheets for each accounting standard with option to export results to Excel
▪ Training materials including workflow guides
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Quantify Financial Reporting – Introduction
System Support
Accessing and Using Online Help
Full documentation for Quantify FR is available by clicking Help in the Application Toolbar. When you click Help, the Overview
help topic is displayed in a separate browser window with a custom interface. Three navigational tabs — Contents, Index, and
Search — appear to the left of the topic. You can also use the Back and Forward arrows in the browser to move through topics
you have already viewed. Tips for using Quantify FR can be found here.
Pressing F1 any place within the system brings you directly into the relevant section within the detailed online help.
Online Help also contains many useful tips under the Calculation Procedures and How To subsections of the Financial
Reporting section.
Getting Help with Normal Use of Quantify FR

If you need assistance using the system or would like to provide feedback on the system, please contact your local office
Quantify expert. A current list of local experts can always be found on the Quantify intranet page.
Getting Help with Application Crashes and Reporting Bugs

If any of the following problems occur:
• The application generated a system error message

• The application or the work session was abruptly halted
• Other unrecognizable system behaviors occurred
Then follow these steps:
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Quantify Financial Reporting - Introduction
1) Click the Restart button at the top of the Quantify screen or Exit out of Quantify and restart Quantify via the Start
button/menu or Quantify shortcut icon.
2) After restarting Quantify, check if you still get the same error. If so, restart your computer and check your network
connection.
3) After restarting Quantify and your computer, check if you still get the same error. If so, document steps/actions/clicks just
prior to the problem. Also document the object’s SpecID information, which will be necessary to debug the problem.
4) Escalate the issue to your local office Quantify Expert (webpage for current expert list is in the previous section). They
may be able to help by looking at your Quantify client/run/error to determine how to solve the problem. Note that you will
need to ensure the expert has read-write access to the applicable client. See “Clients & Plans” section for information on
granting access.
5) If the office Expert cannot help (or is not available), send an email to RSGServiceDeskSupport@willistowerswatson.com.
If you are working outside the normal hours of the Service Desk (08:30 AM to 5:30 PM EST) and the issue is an
emergency or a system outage you can call the Global IT Service Desk at 1-855-246-1959 for assistance.
Getting Help with Linking to Local Printers and Network Drives

If you have a problem accessing your local printers or network drives from within the Quantify environment, please contact the
Global IT Service Desk.
Reference Materials
This guide and the online help are focused on how to use Quantify FR, not the underlying business knowledge. Following is a
list of links to useful materials:
Quantify main page: https://wtwonline.sharepoint.com/sites/quantify
Model valuation reports: https://wtwonline.sharepoint.com/sites/quantify/SitePages/ModelClientValuationReports.aspx
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Quantify Financial Reporting – Clients & Plans
CLIENTS & PLANS

This section covers fields in the Client and Plans that are important for Financial Reporting.
Client Basic Info and Plan Sponsor Tabs

FR uses information from the plan sponsor identified in the plan. Many times, the plan sponsor is the client. Information used
by FR on these tabs:
• Legislative Country is used to define which funding rules apply as well as controls some content in the client reports.
• “Accounting Regulatory Compliance” field must identify the standard(s) that the client applies. The available options
are FASB, IAS 19 and FRS.
The Plan Sponsor tab identifies the plan sponsor, their contact information and legislative country for the plan.
When you establish a client, the client is automatically established as a plan sponsor. There may be other entities within a
client that sponsor other plans (i.e. subsidiaries that sponsor different plans). You can add additional plan sponsors by clicking
the New button in the Plan Sponsor tab and filling in the relevant information.
The plan sponsor name appears in the client report. To edit the name, right click on the plan sponsor name and select the
Rename option.
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Quantify Financial Reporting - Clients & Plans
Each plan sponsor can have a different business relationship, legislative country and accounting regulatory compliance; e.g.
the client in the screenshot below has two plan sponsors with different legislative country and accounting regulatory
compliance settings.
It is also critical that the “Acct Regulatory Compliance” field is set up according to the standard(s) that the plan sponsor
applies. The available options are FASB, IAS 19 and FRS. The options selected for each plan sponsor will determine the
calculation options available for any plans sponsored by that entity within FR; e.g. if only ‘IAS 19’ is chosen then FAS Pension
and FRS calculation options will be hidden in FR since they are not required for that plan sponsor.
The Legislative Country setting for each plan sponsor is also an important field in determining the format of output on the
Client Reports generated from FR. It determines the date, currency and number format in the client reports; e.g. a US plan
sponsor would result in currency being displayed as US$, dates appearing in mm/dd/yyyy format and numbers displaying in
5.25% style outputs. A client report for a Portuguese plan sponsor would display a Euro currency, dates would appear as
dd/mm/yyyy and numbers would reflect the standard local 5.25% formatting.
Plan Information
Each separate legal plan associated with the client should be entered on the Plans tab. There are two names to enter in the
Plans tab: a short name and a formal name, as well as a plan code.
• The formal name will be used as text in the client report.

• The short name is used on the Quantify screens, will be displayed on the cover page of the client report and in the
report footers. When you establish a new plan, it will default to the name P1, P2 etc. To edit this, right-click on the
plan name and select Rename.
• The plan code identifies members in a plan and should be unique.
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You will need to complete the requested information in the Basic Info and Report Parameters tabs. Information in these tabs
must be input and validated before the plan is valid.
You are not required to enter information in the Key Dates, Tracking, and Planning Documents.
The following section provides guidelines to the relevant subtabs:
Plans - Basic Info tab (all plans except Canadian pension plans)
Field Description
Plan Classification Identifies whether the plan is any of the following:

Actual ongoing plan Plan is an actual plan where active participants continue to accrue benefits
based on increasing service and pay, if applicable, and new participants are
allowed
Actual ongoing closed Plan is an actual plan where active participants continue to accrue benefits
plan based on increasing service and pay, if applicable, and new participants are
not allowed
Actual partially frozen Plan is an actual plan where some active participants continue to accrue
plan benefits based on increasing service or pay, if applicable, and others do not
Actual frozen plan Plan is an actual plan where no active participants continue to accrue
benefits based on increasing service or pay, if applicable
Actual inactive plan Plan is no longer active due to plan termination or plan was merged into
another plan, etc.
Testing plan Plan is used only for testing or training purposes
Other plan Plan does not fit in any of the above categories
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Formal Name This is the name that will appear in the text of the client report. Maximum size is 100 characters.
Plan Code This code is used to uniquely identify the plan in participant data; the code is also used to identify liability
result sets for valuation report calculations. As soon as the system validates the plan code, this field locks
and is not editable.
Consolidated Report Plan Enter the abbreviated (max 20 characters) plan name that you wish to see appear for this plan in any
Name Consolidated Report Scenario (CRS).
Channel Plan Name Channel Plan Name in Quantify must match plan name within Swift files.
Description Optionally enter a brief description of the plan.
Plan Sponsor Select a plan sponsor from the list that you have defined for this client in the previous Plan Sponsors tab.
The default is "Client".
Trustee Optionally enter any Trustee details.
Original Effective Date This date is used to determine how much historical valuation information to use in report calculations. This
is hidden for all countries other than US.
Actuarial Service Center This shows which service center is supporting the plan.
Project Leader This shows the name of the WTW contact for the plan.
Plan type Plan type options are "Pension", “OPRB”, or “In-service awards”.
Employer This setting affects US funding calculations only. This is hidden for all countries other than US.
Funded Type Specifies whether the plan is a funded, part funded or fully unfunded arrangement.
Collective Bargaining This setting affects how mid-year amendments are treated under US funding. Select this check box to
specify that this is a union plan in which benefits are subject to collective bargaining. This is hidden for all
countries other than US.
Reimbursement Rights Only appears if IAS19. Check this box if your plan has reimbursement rights.
Tax Qualified Specifies whether the plan is subject to US funding regulations. This is hidden for all countries other than
US.
Federal Plan # The plan number used on US government forms. This is hidden for all countries other than US.
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Canadian Pension Plans - Basic Info tab
Field Description
Plan Classification Identifies whether the plan is any of the following:

Actual ongoing plan Plan is an actual plan where active participants continue to accrue benefits
based on increasing service and pay, if applicable, and new participants are
allowed
Actual ongoing closed Plan is an actual plan where active participants continue to accrue benefits
plan based on increasing service and pay, if applicable, and new participants are
not allowed
Actual partially frozen Plan is an actual plan where some active participants continue to accrue
plan benefits based on increasing service or pay, if applicable, and others do not
Actual frozen plan Plan is an actual plan where no active participants continue to accrue
benefits based on increasing service or pay, if applicable
Actual inactive plan Plan is no longer active due to plan termination or plan was merged into
another plan, etc.
Testing plan Plan is used only for testing or training purposes
Other plan Plan does not fit in any of the above categories
Formal Name This is the name that will appear in the text of the client report. Maximum size is 100 characters.
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Field Description
Plan Code This code is used to uniquely identify the plan in participant data; the code is also used to identify liability
result sets for valuation report calculations. As soon as the system validates the plan code, this field locks
and is not editable.
Consolidated Report Plan Enter the abbreviated (max 20 characters) plan name that you wish to see appear for this plan in any
Name Consolidated Report Scenario (CRS). CRS is not available for funding reports.
Channel Plan Name Channel Plan Name in Quantify must match plan name within Swift files.
Description Optionally enter a brief description of the plan.
Plan Sponsor Select a plan sponsor from the list that you have defined for this client in the previous Plan Sponsors tab.
The default is "Client".
Actuarial Service Center This shows which service center is supporting the plan.
Project Leader This shows the name of the WTW contact for the plan.
Trustee This field is not applicable to Canadian plans that are checked as “Registered” (see below).
Plan Type Plan type options are "Pension", “OPRB”, or “In-service awards”. If Canadian plan is checked as
“Registered”, this field is set to “Pension” and disabled.
Funded Type Specifies whether the plan is a funded, part funded or fully unfunded arrangement.
Actual Jurisdiction Specify the jurisdiction of the plan. This is hidden for all countries other than Canada.
Calculation Jurisdiction Quantify supports calculations for four jurisdictions (Alberta, Federal, Ontario and Quebec). If the actual
jurisdiction is not one of the supported ones, then select the calculation jurisdiction that is closest to the
actual jurisdiction. This is hidden for all countries other than Canada.
Multi-Jurisdiction Plan This field appears only for plans with Calculation Jurisdiction = Quebec. This is unchecked, by default. This
box must be checked to enable additional solvency funding requirements for multi-jurisdiction plans.
Reimbursement Rights Only appears if IAS19. Check this box if your plan has reimbursement rights.
Registered Check this box if you want to use the Canadian funding features. This is hidden for all countries other than
Canada.
CRA Plan Registration # Enter the CRA plan registration number. This is hidden for all countries other than Canada.
Federal/Provincial Plan # Enter the Federal or Provincial plan number. This is hidden for all countries other than Canada.
Funds Included These fields appear once you check the Registered box. Select the applicable funds for the plan. This is
hidden for all countries other than Canada.
Plans – Client Report Parameters Tab
This contains two sub-tabs which enable you to define parameters that will be used in generating the client reports. Some of
these parameters are used to define default values for each Valuation Report Scenario. If a parameter needs to change only
for a certain valuation, change it in the applicable Valuation Report Scenario. For US and CA Funding plans, there is an
additional sub-tab for Funding to specify who is signing the valuation reports.
General sub-tab
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Field Description
Primary Benefit Formula • Traditional final average pay • Unrelated to Pay

• Traditional career average pay • Pension equity
• Revalued career average pay • Cash value
• Cash balance
Selecting “cash balance,” “pension equity,” or “cash value” will

change labels for the accrued benefit in the client report to
accrued balance.
Method of social security Required only for US plans. Select the relevant option for your plan from the dropdown list.
Integration
Plan is Pay-Related • Select yes or no

• This selection will be used to set the default for the option to show compensation in the client report in
the Valuation Report Scenario Client Report Parameters.
Include Compensation in Available when Plan is Pay-Related = "Yes." Select either of the following:
Client Report’s Age/Service
Chart? • Include Compensation for all cells: Select this to specify that average pay be displayed in age/service
distribution charts in the client report.
• Do Not Include Compensation: Select this to specify that average pay not be displayed in age/service
distribution charts in the client report.
Accounting sub-tab
Field Description
Client Report Signatures Specify the default signatures and roles to appear in the client report. See separate section in this guide
‘Customizing your client report’ for further details.
Summary of principal plan Specify the default summary of plan provisions to appear in the client report. See separate section in this
provisions guide ‘Customizing your client report’ for further details.
Accounting Amortization Specifies whether Average Future Working Lifetime (AFWL), Average Remaining Life Expectancy (ARLE)
Period or Limited Average Remaining Life Expectancy (Limited ARLE) will be used for FASB gain/loss
amortizations or amortization of Prior Service Cost. Select "AFWL" if active employees have material
liability. Select "ARLE" if the plan primarily consists of inactives or the plan is frozen. Consider the
appropriate suboptions "All participants" or "Inactive participants only" as it may be possible to deem
actives as inactives under certain circumstances. Select "Limited ARLE" if the plan primarily consists of
inactives or is frozen and provides material non-annuity benefits.
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US Funding sub-tab
Field Description
Client Report Signatures Specify the default signatures and designations to appear in the client funding report.
Summary of Principal Plan Specify the default summary of plan provisions to appear in the client report. See separate section in this
Provisions guide ‘Customizing your client report’ for further details.
Enrolled Actuary Specify the enrolled actuary signing the report. Dropdown options include al EA WTW colleagues.
EA # Automatically populated enrolled actuary number, as registered for the applicable Quantify user.
Frozen @ 01-Sep-2005 Checkbox to indicate whether the plan was frozen before 9/1/2005 (impacting funding rules).
CA Funding sub-tab
Field Description
Client Report Signatures Specify the default signatures and designations to appear in the client funding report.
Plans - Key Dates Tab

The Key Dates tab is empty until an initialization run is created. Use this tab to change any of the dates after you have
launched an initialization. Note that key dates will lock and the next cycle will be created as soon as there is a valuation or
Asset Scenario that depends on them.
If you are doing an accounting valuation that has a short fiscal year, you will need to follow this order:
• Go to the Financial Reporting project items screen and create and launch the disclosure scenario (initialization or
standard).
• Change the fiscal year end date.
• Return to the Financial Reporting Project Items screen and create the NPBC valuation scenario.
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Report Documents Tab
This tab allows a user to upload Word documents which can then be used in customizing the standard report templates
generated by Quantify FR. See the separate section ‘Customizing your client reports’ for further details.
File Locations Tab
This tab allows a user to create and manage file locations. Users can define Team Collaboration Tool Online (TCTO) locations
that allow saving to or importing from TCTO file locations. Universal Naming Convention (UNC) path and Secure File Transfer
Protocol (SFTP) locations, which are used in Data Export steps to automatically send export files to specific locations, can also
be created.
Creating File Locations

1. Click the Create File Location button and provide a file location name. You will see this name in the drop list in the Data,
Liabilities and FR objects when you want to save to or import from this location so you will want to give it a descriptive
names. You can also enter a description in the Description field.
2. Choose the location type.
3. Populate the fields available for the chosen location type.
a. TCT Online –
i. For libraries: In TCT Online, find the library and copy it from the browser Address Bar.
ii. For folders in libraries: In TCT Online, find the folder, select it, then right-click and choose Copy Link. Paste the
URL into the Remote Directory Path field. The URL may not paste properly if you copy from the browser
Address Bar.
b. SFTP and UNC path – See the online help topic Data > File Location for more information.
4. Click the Test Connection button.
a. It is very important to test the connection.
b. If you have spaces in the TCT Online library name or folder name, the spaces be removed when the URL is copied
and the pasted URL will not work. You will need to manually enter the spaces in the URL to match with the library
and/or folder names.
You will need to create a TCT Online File Location for each library and each folder that you need to use. The File Location
defines a single specific destination folder and it is currently not possible to navigate to subfolders.
Using File Locations

In addition to enhancing the management of File Locations, new options have been added to various areas within Quantify
wherein users can upload from, download to, save to, and select import from TCTO file locations. Users will be able to see the
new options in the following areas:
• Report Documents tab in Clients

• Data folder in Quantify Data
• Data export step in Quantify Data
• Auxiliary Files of Liability Runs in Quantify Liabilities
• Reports generated in the Reports tab of Valuation Report Scenarios and Consolidated Report Scenarios in Quantify
Financial Reporting
• Bulk Import in Quantify Financial Reporting
• Swift Data Transfer in Quantify Financial Reporting
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These options are available when files are moved directly between Quantify and TCT Online. If you open the file in Word or
Excel, the save as function is controlled by the MS Office version on the Quantify terminal servers.
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Quantify Financial Reporting – Preparing Liabilities
PREPARING YOUR LIABILITIES FOR USE IN QUANTIFY

The diagram below sets out the basic workflow process in Quantify FR. You will need to input your asset and calculation type
details directly into the relevant FR input screen (these steps are covered in more detail in the workflow guide sections later in
this user guide). This particular section covers one key element of the overall process i.e. how to create your liabilities and
make them available for use in Quantify FR.
•IAS 19
•FRS 102 •Internal
•Assets Accounting/ worksheets
Inputs Calculations •FAS Pension Funding
•Liabilities Results •Client
•FAS OPRB Reports
•Funding
The overall intention of the Global Practice is that:
• Users who use the Quantify Liabilities module to prepare their valuations will be able to directly access their liability
results within Quantify.
• Users who generate their liability results in a system other than Quantify Liabilities will export the results as an XML
file for later import into Quantify FR.
For those users not using Quantify for Liability calculations, there are two primary methods by which users will be generating
liabilities for use in Quantify FR:
1. Using a customized Quantify Accounting Input tool (primarily UK users)

2. eVal GR tool (Germany)
These methods generate an XML file containing all the required liability information which can be directly imported into
Quantify and used in FR calculations.
For Canadian funding functionality, liabilities must come from Quantify.
Creating Liability Results using the Quantify Accounting Input Tool

If your plan liabilities have not been developed in Quantify (or you wish to edit an XML file created by another system) you will
need to use the Quantify Accounting Input Tool to create your XML file containing all the required liability information. In
Quantify, click on the Apps button in the upper right corner and select Quantify Accounting Input Tool.
The utility contains 4 tabs:
1. Liability Details (containing key assumptions, plan liabilities, expected cash-flows, AFWL information)
2. Membership Data (summary of membership data displayed in client report summary of results)
3. FAS 132(R) future benefit payments (tab does not appear if user changes purpose to IAS 19 only)
[Insert title
14
Quantify Financial Reporting - Preparing Liabilities
4. Actives Age & Service Distribution (optional tab used only to populate exhibit 3.2 in standard client reports)
Quantify FR includes functionality to automatically roll your liabilities (adjusted for interest & benefit payments) from the liability
valuation date to the accounting calculation date. This rolling feature requires a user to have entered two years of liability
information to enable the rolling calculation.
If you are manually entering liability results as at the effective accounting date, you may wish to set the ‘Rolling of Liabilities in
FR Required’ option to ‘No’ and only enter a single year of results.
Complete the relevant tabs and save the XML file to your local network drive. It can then be imported in Quantify.
Importing Liability Results into Quantify (single import)

1. Open Project for client in Quantify.
a. Select Liabilities from left navigation bar.
b. Click Add Item, select Liability Results from drop-down list.
c. Click New.
d. Enter a name for the liability result; this is the name that will appear when you are selecting a liability result
elsewhere in the system, such as FR.
e. Select a Results Plan from the drop-down menu of all Plans for this client. Make sure that you select the correct
Plan for the results you want to import.
f. The Result Type is “Import WyVal Result” and is read-only.
g. In the “Select Main Result” section of the dialog, click the Browse button to browse for and select an XML Liability
Results file. The default file extension is XML (to locate the _ForFR.XML files). When a file is selected, the system
opens the file and builds a list of passes.
h. Select a Pass from the XML Liability Results File; the drop-down menu lists all passes in the selected Results File
and includes the following information for each pass:
i. Pass Number
ii. Pass Purpose
iii. Current Valuation Year Interest Rate %
15
Quantify Financial Reporting - Preparing Liabilities
iv. Pass Description

v. Cost Method Code
i. Click Import Results.
2. Repeat all steps in this item 1. for every Liability Result and XML file needed.
Importing Multiple Liability Results into Quantify in a single process

1. Open Project for client in Quantify.
a. Select Liabilities from left navigation bar.
b. Click Add Item, select Liability Result from drop-down list.
c. Click on the Bulk Liability Import button.
d. Click on the ‘Browse and select additional file(s) for upload’ button.
e. Highlight the XML files containing the liability results you want to load and click the Open button.
f. Be sure the Liability Result Name and Plan name are completed for each Results File you want to import then
click the Import Results button. If the xml files were named using the appropriate naming convention that includes
the “@” symbol delimiter, then the Liability Result Name and Plan name will be completed; otherwise you will
need to manually select a Plan name.
g. If all liability result files specified have a valid status, the liability results will import. If there is an error with either
the Liability Result Name or the Plan name for one or more XML file, an indicator will appear in the status column
and you will need to correct the error in order to import. If there is an error with the data in any of the selected
XML files you will receive an email message describing the error. You will need to fix each file with an error before
Quantify will import the liabilities.
h. Note that the bulk liability import only imports FAS87 or OPRB passes. If you need to select a pass other than
pass 1, deselect the check in the ‘Use Pass 1 Results’ column and use the dropdown in the ‘Pass and Interest
Rate’ column to pick the appropriate pass.
i. You can also use this functionality for a mass edit of liability results, for example if you have fresh results
calculated with a different interest rate. To do so, make sure your new results are saved under the same file name
as the old XML files. Select all liability results you want to update and unlock them, then import the XML files. The
system will automatically override the old liability results and lock them. If you import new XML result and use the
name(s) of locked results, however, the newly imported results will be given that name with “_1” appended.
16
Quantify Financial Reporting – Funding Workflow Guides
US PENSION FUNDING WORKFLOW GUIDES

Intended Audience
These FR workflow guides have been written for WTW associates who will be doing, checking and reviewing US Pension
Funding Valuation Report Scenarios. This guide includes instructions for initialization and preparing valuations for subsequent
years.
Intended Use
This workflow guide should be supplemented with detailed training (both written and hands-on) on the Financial Reporting
functions in Quantify.
Overview of Guides
Guide 2 - Performing Calculations

Guide 1: Initializing FR for first-time
using FR
use
The first guide is for plans that will be This second guide is for ongoing use to
using FR for the first time to calculate produce client results. The steps to
funding results. The initialization produce funding results using FR are:
requires entry of funding results for the
• An Asset Scenario must be
plan year preceding the first plan year in
produced, containing basic asset
which FR is to calculate valuation results
reconciliation information and
and produce a client report.
assumptions as to administrative
expenses paid from the plan.
• If the plan uses smoothed assets,
an Asset Smoothing Method must
be created; otherwise this step is
not required.
• To generate contribution
requirements, a new Funding
Valuation Report Scenario must be
created. The prior year funding
results must be identified, along
with the Asset Scenario and
possibly an Asset Smoothing
Method. Additional information
regarding liabilities is also required.
Guide 3: Scatter charts for active participants
The third guide discusses the scatter chart functionality and options in FR for the client report as
well as the Schedule SB attachment, which is produced when you check the box on the
Government Forms tab to create the government form outputs.
[Insert title
17
Initializing Quantify FR for first-time use
Guide 1 – Initialization using prior year funding results
1. Plan your work
a. Gather prior reports and worksheets for the plan, reflecting final results that were delivered to the client.
b. Gather the most recent funding valuation report that was delivered to the client. Note, FR can only be initialized
from the prior plan year results.
2. Manually input initialization data
a. Open Quantify project for the client and select Financial Reporting.
i. Click Add Item at top
ii. Select Valuation Report Scenario from list of items to add
1. Click New
2. Name the new scenario
3. Enter scenario description (optional, but recommended)
4. Select Plan
5. Select Initialization as the Type
6. Select Funding as the Purpose
7. Select Manual for Initialization Option and enter the plan year begin date for the year you are using
for initialization
8. Check the check box to Apply PPA
9. Click OK
iii. There are eight tabs shown on the initialization screen. Input the data required in each of the tabs:
1. Basic Info screen – confirm the number of plan participants is “>500” or change to be “<500”, enter
the number of years the plan has been subject to PPA (including the initialization year; e.g. if FR is
to be first used to calculate 2016 valuation results the initialization year would be 2015 and
therefore the number of years subject to PPA would be 5 and the plan effective interest rate for the
initialization year.
2. Dates screen – review initialization year and year prior to initialization dates for correctness
3. Demographics screen gives you the ability to put detailed demographic information to be used in
the report and for comparison purposes in next year’s Internal Worksheets and client report. These
fields are optional and not required to be filled out.
4. Funding Relief screen – fill out each of the fields as appropriate. This is where you enter the Excess
Employee Compensation and Extraordinary Dividends the plan may have due to the Pension Relief
Act of 2010.
5. Asset Scenario screen asks for reconciliation information regarding the Trust assets in the plan
year that ends with the initialization year. Be sure to enter the prior year’s administrative expense
assumption that was added to the target normal cost. Employer contribution information entered
should include all contributions made for the prior plan year even if made after the end of the prior
plan year (receivable contributions). If you are using the WRERA smoothing method, you will need
to click on the Toggle History button to enter the prior year’s Market Value and the prior year’s
contributions and other transactions. After you have entered the prior year’s information, select the
Update button. In addition to the reconciliation details, if the WRERA asset smoothing method is
used, enter the WRERA asset smoothing rate limits for the initialization year and the preceding
year. Detailed instructions are provided on the UI of an initialization Asset Scenario and online help
[Insert title
18
Quantify Financial Reporting - Funding Workflow Guides
on how to populate the various columns available for discounted employer contributions and their
present value (PV).
6. Assumptions screen – enter the ASC 960 discount rate and the Assumed Retirement Age.
7. Amortizations screen – enter all the Shortfall amortization balances and payments for the plan on
this screen by selecting the Add button and filling in the appropriate information. For years in which
relief was elected under the Pension Relief Act of 2010, be sure to include amortization bases in
both the Shortfall amortization and Pension Relief Act of 2010 schedules on this screen.
8. Valuation Results screen is made of up of two separate tabs. You should fill out all the blank (non-
greyed out) fields on both of the following sub-tabs:
a. Liabilities, At-Risk Status, FTAPs
b. Assets, Contributions, Funding Balances
b. Once data entry and review are complete, return to the Basic Info screen and Launch this scenario. Publish it by
clicking on the Publish button after the scenario is launched and the results have been reviewed and confirmed.
Note that launching the Initialization Scenario will not create a client report or Internal Worksheets but will enable
use of FR for subsequent valuations.
19
Using Quantify FR for ongoing reporting purposes

Guide 2 – Using FR to perform funding calculations for on-going reporting
This guide is used after FR has been initialized and applies to producing funding result calculations and client reports.
1. Asset scenario for funding results calculations
a. A new Funding Valuation Report Scenario requires that a current year Funding Asset Scenario exist.
b. To create a new Funding Asset Scenario:
i. Open the Quantify project for the client and select Financial Reporting from the tree on the left.
ii. Select Add Item and choose Asset Scenario from the drop-down box.
iii. Select New and name the scenario.
iv. Select the plan this scenario applies to from the drop-down box.
v. Select Standard for the Type and Funding for the Purpose.
vi. Select the prior year Asset Scenario which was used for the prior year funding results.
vii. Click Ok.
c. Fill out the asset reconciliation details and enter the end of year Market Value of Assets. Be sure to include any
receivable employer contributions for the prior plan year so that they are taken into account. There is no need to
launch the Asset Scenario; it is ready to be used once everything is valid (blue checkmark in upper left). In
addition to the reconciliation details, enter the expected administrative expense assumption and the actuary’s
best estimate of anticipated annual rate of return for the prior two years, if the WRERA asset smoothing method is
used.
d. If the plan uses a smoothed asset value for the Actuarial Value of Assets, you will need to create an Asset
Smoothing Method in Quantify if it does not already exist. To create a new Asset Smoothing Method:
ii. Select Add Item and choose Asset Smoothing Method from the drop-down box.
iv. Select the plan this method applies to from the drop-down box.
v. Select Funding for the purpose.
vi. Select the Adoption Date (leave the ‘Use Revenue Ruling 2000-40 Method’ unchecked).
vii. Click Ok.
viii. Select the appropriate Method Type for your plan and fill out the remaining fields based on the Method
Type.
2. Liability Results
a. If Quantify was used to determine liabilities for funding, then you will be able to directly link the Liability Results to
FR.
b. If funding liabilities were calculated outside of Quantify, then you will need to import the liabilities in XML format
and create a Liability Result within the Liability portion of Quantify. Note, Liabilities for PPA Funding must be
calculated within Quantify.
c. Entering PPA basic liability results (based on MAP-21 rates) and ASC 960 liabilities are required. Entering the at-
risk and cushion liabilities are on an as needed basis.
d. Note that client reports and other client deliverables such as government form outputs will not be produced if
either of the following applies to the selected liability results: (1) one or more of the liability results used for
funding (excludes ASC 960 liabilities) in any event of the VRS is a projected liability result (e.g., initial liability
valuation date is other than plan year begin) or (2) one or more of the liability results used for funding (excluding
20
ASC 960 liabilities) in the final event of the VRS uses an invalid interest rate structure (using rates that are either
too old or are after the valuation date).
3. Funding Results for the plan year
a. Create a new Funding Valuation Report Scenario

i. Open Quantify project for the client and select Financial Reporting
ii. Select Add Item and choose Valuation Report Scenario from drop-down box.
v. Select Standard for the Type and Funding for the purpose.
vi. Select the prior funding scenario which was used for the prior year’s funding results, or the Initialization
Scenario if this is the first year FR is used to calculate the funding results.
vii. Click OK.
b. Enter Funding Scenario Details – Basic Information Tab
i. Select Asset Scenario from the dropdown.
ii. Confirm or change the dropdown indicating the number of plan participants.
iii. Under Valuation Changes:
1. First “Change Type” will always be “Experience-Assumption” since liabilities always include
assumption changes. Select the liability passes and other applicable information in the Change
Event Details panel. Note, see paragraph 3.a. below for important information regarding selection
of liability passes. Be sure to include the appropriate PPA effective interest rate (EIR). If the
selected liabilities were generated in Quantify, confirm the EIR determined in the liability run.
Otherwise, enter a value if the liability run does not include the calculated EIR or if you seek to
override the EIR from the liability run.
2. Add additional “Change Types” for valuation changes (i.e., plan changes or assumption changes), if
needed by clicking on the ADD button and selecting the appropriate Change Type.
a. Plan Changes can be run using the AMEND option. Liabilities associated with the
amendment should be selected in the liabilities section.
b. Assumption Changes can be run using the ASSUMP option. Liabilities associated with the
additional assumption changes should be selected in the liabilities section.
c. Manual overrides can be applied to certain calculated results using the OVERRIDE option.
When an OVERRIDE event type has been added, the Overrides tab contains a Results sub-
tab which enables you to override the prior year funding balances and the target normal cost
and amortization payments components of the minimum required contribution. Please refer to
the separate section in this guide headed ‘Overrides’ for more details on this functionality.
d. You may also choose to enter a custom description for the event (up to 18 characters). These
descriptions will flow into the Internal Worksheet as the Event header descriptions for the
events.
3. To support the reconciliation of the minimum funding requirement and funding shortfall/(surplus)
from the prior year to the current year, as displayed in section 1 of PPA funding client reports:
a. The liability pass selected for the “Experience-Assumption” event should reflect the prior
year's assumptions, including the interest rate basis and mortality assumptions. With regard
to the interest rate basis, the recommended approach is to use a pass that utilizes the prior
year fixed spot rates (see liability help for more details).
b. Add assumption change events for Mortality and Interest rate changes from the prior year.
The assumption change event must include an “Assumption Category” from the dropdown
menu. This dropdown includes selections for Mortality, Interest rate, Liability Method
Changes, UCEB and Other Assumptions.
21
c. Enter Funding Scenario Details – Overrides Tab

i. Check off the box if you want Quantify to use Compound Interest; otherwise, Quantify will use simple
interest.
ii. To support the reconciliation of the minimum funding requirement and funding shortfall/(surplus) from the
prior year to the current year, as displayed in section 1 of PPA funding client reports:
1. Add expected return on assets for plans not using the WRERA asset smoothing method.
d. Enter Funding Scenario Details – Sponsor Elections Tab
i. You may select whether or not you want the system to determine the funding balance amounts that are
used to offset the minimum contribution.
ii. If manual funding balance elections will be entered, you may also choose whether to limit the elections to
the minimum required contribution. An answer of “No” will cause any excess amount of elections to be
forfeited.
iii. Enter any forfeitures and/or excess contributions made for the prior plan year.
iv. Enter the date of the sponsor’s elections and the AFTAP certification.
v. If the plan used the Funding Relief Act of 2010 check the box and fill the rows out as needed.
vi. The Quarterly Election section is only enabled if the checkbox at the top is set to ‘No’ (system should
NOT determine balances to offset minimum contribution requirement). The system will use the funding
balance elections (carryover balance first and then prefunding balance) to offset the current plan year
minimum funding requirements. If more contributions are elected than necessary to meet a quarterly
contribution, the excess portion of the election will be carried forward but interest will only be credited up
until the election date.
e. Enter Funding Scenario Details – Government Forms Tab
i. Check off whether to generate Schedule SB form and attachments to be used with Form 5500 software.
ii. Select the signing EA and Assumed retirement age for Schedule SB.
iii. Fill out the PBGC section as appropriate.
f. Enter Funding Scenario Details – AFN Tab
i. Check off whether to generate the annual funding notice, the certification date and where the
supplemental information should be displayed. An accompanying cover letter will be generated with the
annual funding notice.
ii. Identify the method to use for determining the liabilities and enter the appropriate values.
iii. Enter the assets and investment allocation method.
g. Enter Funding Scenario Details – ASOP 51 Tab
i. Select separate liability results for the various risk measures listed.
ii. Enter the assumed percentage decrease in market value of plan assets.
iii. Choose to automatically populate Historical Valuation Information from prior Valuation Report Scenarios
or enter the information manually.
iv. A separate section will appear in the Internal Worksheets for ASOP 51 calculations, as well as either a
stand-alone ASOP Report or an appendix in the client report describing funding-related risks.
h. Enter Funding Scenario Details – Client Report Parameters Tab
i. Specify files used for Appendix A - Statement of Actuarial Assumptions and Methods and Appendix B -
Summary of Principal Plan Provisions, if applicable.
ii. Specify whether the AFTAP certification should be included as a section in the funding client report. A
stand-alone AFTAP certification report is always created.
iii. Specify whether the ASOP 51 content should be included as a separate stand-alone report or as an
appendix in the funding client report.
iv. Specify whether the ASC 960 content should be included as a separate stand-alone report or as an
exhibit in the funding client report.
22
v. Specify a client report text object for the reports, if applicable. The funding and investment policies
displayed in the annual funding notice are entered in the client report text object.
vi. Under the Report Display subtab, indicate if investment return should be shown in total.
vii. Under the Participant Data Display subtab,
1. Specify whether the Data Reconciliation Grid should be included in the report.
2. Specify whether compensation should be included in the report.
3. Specify whether Accrued Benefit/Balances for participating employees should be included in the
report
4. Indicate if the age/service chart should include compensation.
5. Identify whether certain participant statuses should be included in the age/service chart. This
selection will be applied to the client report and the scatter chart for the Schedule SB attachments.
6. Identify whether certain participant statuses should be included in the client report.
i. Launch the Funding Scenario.
j. Select the Reports tab. The Reports tab will show the following reports, as applicable: PPA Funding Internal
Worksheets, PPA Funding Internal Summary (excel-based), PPA Funding Client Report, PPA AFTAP Client
Certification Report, Government Forms Counts Report, PBGC Premium Import File for My PAA, Client Report
Process Log, and, if you elected, the Annual Funding Notice, Annual Funding Notice Cover Letter, the ASC 960
Report, the ASOP 51 Report and the Schedule SB Import File, Schedule SB Attachments and Schedule SB
Worksheet.
i. The Internal Worksheets and Internal Summary can be printed and/or saved for checking and review.
They can be saved in Excel or PDF formats.
ii. The Client Reports, including the Annual Funding Notice, ASC 960 Report and ASOP Report, can be
printed and/or saved for checking and review. They can be saved in Word or PDF formats.
iii. The Government Forms Counts Report can be printed and/or saved in Excel format for checking and
review. Unless overrides are entered in the PBGC section of the Government Forms Tab, counts in this
report will be based on the participant counts from the PPA basic liability results (based on MAP-21
rates) selected in the final event. See the Quantify Data user guide for additional information on adjusting
government form counts within the data step.
iv. The Import files should be downloaded to the appropriate place on your office LAN in order to be used by
My PAA or the Form 5500 software.
v. The Schedule SB Attachments can be printed and/or saved for checking and review. They can be saved
in Word or PDF formats.
vi. The Schedule SB Worksheet can be printed and/or saved for checking and review. It can be saved in
Excel or PDF formats.
k. Once the reports have been finalized, publish the Funding Scenario by clicking on the Publish button in the Basic
Information tab. This can help client teams identify the final set of valuation results delivered to the client.
23
Guide 3 – Scatter charts for active participants
This discusses the scatter chart functionality and options in FR for the client report as well as the Schedule SB attachment,
which is produced when you check the box on the Government Forms tab to create the government form outputs.
Scatter charts show the distribution of active participants by age and service bands, with average pay, cash balance or frozen
benefits where they apply. The attachment will include up to 4 scatters depending on what is included in the data used for the
final event’s target liabilities:
a. Total chart shows all actives included in the valuation, including active subgroups as elected
b. Pay chart shows counts and average pay for actives in the Total chart with “Scatter_ExcludeFromPayChart” not
equal to Y in the data. This chart is suppressed if the “Plan is Pay-Related” parameter is set to “No”.
c. Cash balance chart shows counts and average balances for actives with non-zero values in
“Scatter_AccountBalance” or “Calculated.”
d. Frozen benefit chart for actives with non-zero values in “Scatter_AnnuityBenefit” or “Misc(5).”
For general help on the Schedule SB preparation, including the attachments, refer to the Form-5500-Government-Forms page.
Scatter Chart Comparison
Details on how specific data fields are defined follow.
# Element Client Report Schedule SB Line 26 Attachment

1 Age bands under 25, 25-29, 30-34, 35-39, 40- Same
44, 45-49, 50-54, 55-59, 60-64, 65-
69, 70 & over
2 Service bands 0, 1, 2, 3, 4, 5-9, 10-14, 15-19, 20- 0, 1-4, thereafter the same per SB
24, 25-29, 30-34, 35-39, 40 & over instructions
3 Data source Quantify Liabilities cell counts Same
based on attained (not rounded)
age and credited service totals as
of the valuation date
4 Counts Actives included in the valuation Total chart includes actives included in the
valuation.
Pay chart includes actives included in the

valuation that are not specifically excluded
by setting “Scatter_ExcludeFromPayChart”
to Y in the data.
5 Active subgroups: on User controlled inclusion Same, for the population as defined in row
leave/lay-off, independently for each subgroup 4 above.
transferred out, on the Valuation Report Scenario’s
disabled Client Report Parameters tab
6 Average Applies when the plan is pay- Required when the plan is pay-related as
compensation, related as indicated on the Plan’s indicated on the Plan’s Client Report
capped Client Report Parameters tab. Parameters tab, except excluded for cells <
User controls display on the 20 actives per SB instructions.
Valuation Report Scenario’s Client Pay chart includes averages for the
Report Parameters tab when population as defined in row 4 above.
compensation should not be
displayed in the client report.
7 Location of Under each cell count Same

compensation
8 Totals Shown Shown. Averages are included for cells
with at least 20 actives.
9 Summary statistics Displayed below the chart: average N/A
age and service, counts of fully
24
# Element Client Report Schedule SB Line 26 Attachment

vested, partially vested, males,
females
10 Cash balance N/A In addition to the total and pay scatters,
amounts another scatter is generated if any non-
zero cash balance amounts exist. This is
“scatter 2” per SB instructions.
Note: Liability results include counts of

records with non-zero balance amounts,
and the averages are based on these
counts.
11 Frozen benefit N/A Additional chart appears if any non-zero
amounts frozen benefit amounts exist using the
same display approach as for cash
balance.
Note: Liability results include counts of

records with non-zero amounts, and the
averages are based on these counts.
12 Format/layout Designed for client report, therefore Designed for SB attachment, therefore
follows branding, etc. identifies line number, EIN, PN, etc.
To produce the SB attachments, the “Create Government Form Outputs” checkbox must be checked on the Government
Forms tab of the PPA Valuation Report Scenario:
The following documents the source in the liability results for each item used by FR and where they are controlled.
25
1. Active participant counts
a. By default, FR will use the total of all active participants in the liability results. The counts in FR come from the
primary liability result for the final event, which is the MAP-21 Basic Funding Target selection.
Open the liability run, find the pass under the Valuation Results Auxillary Files tab, and view the ELS report for
the PPA Basic pass. The active count used in FR is the Total by default. This count can differ from the count in
the Quantify Data Step associated with the Liability Run when records are filtered out or excluded as errors in the
Liability Run. Any differences from the Data Step counts should be reviewed.
Where to find the Auxillary Files, file type ELS
26
The total active count is under the Basic Participant Data section of the ELS excel report.
b. You can exclude transfers, leaves and/or disableds by unchecking the appropriate boxes on the Valuation Report
Scenario’s Client Report Parameters tab.
c. The liability run determines the count of actives, pay, cash balance amounts and miscellaneous fields for each
scatter chart cell.
i. The liability run always uses the attained truncated age and credited service as of the valuation date.
ii. Decrement timing does not change this.
iii. See online help topic “Liabilities > Setting up Liability Runs > Valuation Results Tab > Log Report Viewer
> Active Scatter Charts” for more details.
2. Service
a. The service used to determine the age/service cell in which a record is included is the Credited Service
determined from the formulas in the “Svc and Pay Formulas” tab of the Active Benefit Set. See the online help
topic Liabilities > Active Benefit Sets > Svc and Pay Formulas Tab for more information about the selection of this
formula and the multiple ways it is used in Quantify.
b. The Credited Service field used in the scatter charts is also shown in the Individual Results output from Quantify
Liabilities in the column “CreditedSvc“. It is the same field used in the Additional Statistics section of the ELS
report, Average Credited Service row, and what is used for the participant statistics on the Summary of Plan
Participants in the report generated by FR.
27
c. This Credited Service is not used to calculate benefits or for the liability calculations unless the “Same As Plan
Formulas” box is checked or this field is set equal to those fields. Therefore, it can be set however it is needed for
the Scatter Charts. There is flexibility in setting up this field to set the field differently for different groups, to base it
on a date field or service field, to reflect the freezing of service and to handle other complex service situations.
d. When you have a frozen plan, the best approach is for the frozen service to be provided in the data and mapped
to the Credited Service. If the frozen service is not provided in the data, care should be taken setting up the
service freeze date information.
3. Pay
a. The pay used in the average compensation amounts shown in the scatter charts is the Limited Pay Rate
determined from the formulas in the “Svc and Pay Formulas” tab of the Active Benefit Set. See the online help
topic Liabilities > Active Benefit Sets > Svc and Pay Formulas Tab for more information about the selection of this
formula and the multiple ways it is used in Quantify.
b. The pay used in the scatter charts is also shown in the Individual Results output from Quantify Liabilities in the
column “CappedPayRate“. It is the same field used in the “Total limited pay rate” row of the Basic Participant Data
section of the ELS Report that is used for the participant statistics on the Summary of Plan Participants in the
report generated by FR.
28
c. Pay must be displayed in the SB attachment scatter if the plan is pay-related. You indicate that the plan is pay-
related under the Plan parameters as shown below. The parameter “Age/Service Chart” is ignored for the SB
attachment. The field “Plan is Pay Related” must be set to “Yes” on the Client Report Parameters tab of the plan
for compensation to appear in the SB attachment. You should also review that the Primary Benefit Formula
reflects the plan formula, as this will affect content in generated client reports.
d. For the client report, all controls are from the Valuation Report Scenario’s Client Report Parameters =>
Participant Data Display sub tab. You have the option to exclude pay from the scatter chart in the client report
even if the plan is pay-related by setting the “Display Compensation in Client Report”. You may choose to exclude
pay from the client report scatter if there are cells with small numbers of actives. The 20 active participant
threshold for suppressing pay for these cells is applied only for the SB attachment.
29
e. For the pay chart for the Schedule SB Attachment, the counts and average compensation are based on
participants with Scatter_ExcludeFromPayChart = “N” in the data. The data field can be used to define the portion
of the plan that is pay-related with the resultant scatter only including participants accruing pay-related benefits.
4. Cash balance benefits
a. Required for the SB attachment when all or a portion of actives have cash balance accounts. The SB instructions
refer to cash balance plans or any plan that uses characteristic code 1C on line 8a of Form 5500, such as cash
balance plans and pension equity plans, which define benefits in terms more common to a defined contribution
plan. If you do not have that type of plan, but cash balance accounts are needed for calculations, disregard the
cash balance scatters in the attachment.
b. SB instructions offer two alternatives for cash balance information:
i. One scatter with counts, average pay and average balance, which is suitable for situations when all
actives have balances, or
ii. Two scatters, one for all actives with average pay and a second for actives with average balances, which
is more suitable when a portion of actives have balances.
iii. FR uses the second approach, which works for both situations.
c. The cash balance formulas for which a participant is eligible and which have their “Accd Bft” checkbox checked
on the “Plan Formulas” tab will be used to determine a participant’s cash balance used in this scatter chart or
based on the Scatter_AccountBalance data field depending on the selection in the liability run.
d. The total of cash balance formula amounts is used in the scatter cell average calculation. Refer to the SB
instructions for details on what is required for the attachment.
e. When a cash balance formula is a component in a combination formula, the amount in the scatter will be the cash
balance result from the combination formula, without regard to what the final benefit is (when the liability run
indicates the Account Balance Chart is “Calculated”). See online help topic Liabilities > Setting up Liability Runs >
Valuation Results Tab > Log Report Viewer > Active Scatter Charts for more details. You should decide whether it
makes sense to use the cash balance scatter in the FR output for the SB filing.
5. Frozen benefits
a. Required for the SB attachment when all active participant benefits are hard frozen.
b. Client teams may opt to provide a scatter chart for the portion of the plan that is hard frozen using a work-around
method since the count of actives with non-zero frozen benefits is not currently calculated. See item 6 for more
information.
c. If the plan had been frozen prior to the valuation date, best practice is to define the credited service as the frozen
service amount from the data. If that is not the case, see Section 2 “Service” above for more details. Otherwise
the credited service calculated as of the valuation date will be used.
d. Put the hard frozen benefit in MISC(5) using an override or use the Scatter_AnnuityBenefit data field so that it will
be available for the SB scatter in FR. See online help topic Liabilities > Setting up Liability Runs > Valuation
Results Tab > Log Report Viewer > Active Scatter Charts for more information on the MISC(5) scatter chart.
e. When FR calculates the average frozen benefit, the total frozen benefits for each cell will be divided by the active
count with non-zero frozen benefits for that cell.
6. Special circumstances
a. There is no automated solution to create scatters for the client report or the SB attachment for user-defined
groups, such as:
i. Portion of plan is pay-related, portion not where a separate chart is desired for the non-pay related
portion of the population
ii. Portion of plan is frozen, portion not where different service field is used
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iii. Other desired grouping

b. There are two recommended work-arounds for these situations. Client teams should determine what is
appropriate to disclose based on facts and circumstances.
i. For both work-arounds: Group codes are defined for the portions of the plan for which a scatter is
needed. Group codes and related functionality are covered in the Liability help. The data field that is used
to calculate the Credited Service can vary by group. For example, the Frozen Plan people could use a
different service data field than the non-Frozen Plan people.
ii. Work-around 1: more Quantify steps, less manual work. This is the recommended method as all data
remains in the system, the steps are easily reproduced, the correct fields are already selected and the
chart is appropriately formatted.
1. In a copy of the liability run, adjust the plan definition or create a filter so that only participants of the
group are included.
2. Copy the FR run and select the group’s liability result.
3. Launch and save the scatter portion of the client report and/or SB attachment
4. Repeat for each group
5. In the output from the total plan launch, paste in the group scatter charts.
iii. Work-around 2: less Quantify steps, more manual work. Note the user must ensure the appropriate fields
needed for the SB have been used in the scatter and properly format the chart.
1. In the log report viewer, go to the Active Scatter section and show results by group
2. Export to Excel
3. Manipulate in Excel as needed to remove empty columns or prepare the information for use in
formulas, copy/paste to a Word doc or a Word merge.
iv. While it is possible to produce scatters from a data step, this is not a recommended work-around
because it will exclude modifications in the liability run and therefore have potential differences from the
other data statistics included in the client report.
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CANADIAN PENSION FUNDING WORKFLOW GUIDES

Intended Audience
These FR workflow guides have been written for WTW associates who will be doing, checking and reviewing Canadian
Pension Funding Valuation Report Scenarios. This guide includes instructions for initialization and preparing valuations for
subsequent years.
Intended Use
Overview of Guides
Guide 1: Initializing FR for first-time Guide 2 - Performing Calculations

use using FR
funding results. The initialization produce funding results using FR are:
requires entry of funding results for the
valuation preceding the first valuation in • An Asset Scenario must be
which FR is to calculate valuation results produced, containing asset
and produce a client report. reconciliation information and
outstanding amounts as of the
current valuation date.
• If the plan uses smoothed assets,
an Asset Smoothing Method must
be created; otherwise this step is
not required.
requirements, a new Funding
Valuation Report Scenario must be
created. The prior year funding
results must be identified, along
with the Asset Scenario and
possibly an Asset Smoothing
Method. Additional information
regarding liabilities is also required.
Guide 3: Correcting Input Errors in the Initialization or Asset Scenarios
The third guide is for correcting input errors. If you make an error setting up the initialization or
entering asset information in the asset scenarios, there are certain steps you have to follow to
correct the errors.
[Insert title
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Guide 1 – Initialization using prior valuation funding results
1. Plan your work
a. Gather prior valuation worksheets for the plan, reflecting final results that were delivered to the client.
b. Gather most recent funding valuation report that was delivered to the client. Note, FR can only be initialized from
the prior valuation results.
c. Review the client and plan information in Quantify and update as necessary
2. Review Client and Plan information
a. Confirm the Legislative Country for the Client is Canada. This is defined on the Basic Info tab of the Client
parameters. Contact RSG Service Desk Support if your client has Legislative Country other than Canada.
b. On the Basic Info tab of the Plan parameters,
i. Confirm the Formal Name of the plan as this will be used in the valuation report.
ii. Check the Registered box to enable the funding functionality.
iii. Enter CRA Plan Registration number.
iv. Enter Federal/Provincial Plan number.
v. Select the Actual Jurisdiction of the plan.
vi. Quantify currently supports calculations for five jurisdictions (Alberta, British Columbia, Federal, Ontario
and Quebec). If the Actual Jurisdiction is not one of the supported ones, you will need to specify the
Calculation Jurisdiction that is closest to the Actual Jurisdiction.
vii. Specify the Funds Included for the plan. The available options are Flex (CRAFlex or FlexPensionPlus),
Defined Contribution, Additional Voluntary Contributions and Annuity Contracts.
c. On the Client Report Parameters tab of the Plan parameters, under sub-tab “CA Funding”, specify the two people
that will be signing the valuation report.
d. Save the parameters to ensure that they are valid before proceeding to the next section.
a. To create a new Initialization Scenario:

ii. Click Add Item at top
iii. Select Valuation Report Scenario from list of items
iv. Click New
v. Name the new scenario
vi. Enter scenario description (optional, but recommended)
vii. Select Plan
viii. Select Initialization as the Type
ix. Select CA Funding as the Purpose
x. Enter the initialization date. This should be the actual valuation date in the prior valuation report.
xi. Click OK
b. There are multiple tabs in the Initialization Scenario that need to be updated. The number will depend on the
calculation jurisdiction defined in the Plan. Input the data required in each of the tabs:
i. Basic Information tab
[Insert title
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1. Enter the Solvency Amortization Pmt. Rate for the initialization valuation year. This does not apply
to Federal plans
2. Select the non-investment expense policy. The three options are:
i) The Going Concern interest rate is reduced, and no dollar amount is added to the normal
cost.
ii) A dollar amount is added to normal cost and shown explicitly as a dollar amount in the
employer normal cost rule.
iii) A dollar amount is added to normal cost but not shown explicitly in the employer normal cost
rule.
3. For Ontario plans, the option to use new Funding Reform rules is enabled by default. Uncheck the
box to apply old rules instead (note that this option can be changed in subsequent valuations).
ii. The Demographics tab gives you the ability to enter detailed demographic information to be used in the
report and for comparison purposes in next year’s valuation. These fields are optional and not required to
be filled out. If you have more categories than the standard ones of Active, In Payment and Deferred, you
will need to manually edit the valuation report.
iii. Liabilities tab has four sub-tabs.
1. On the Going Concern DB Liabilities sub-tab, enter the initialization valuation liabilities split
between Actives, In Payment and Deferred participants. If you have more categories than the
standard ones then you need to combine the liabilities and include them in one of the standard
categories. Confirm the total entered in the system matches the value in the valuation report.
2. On the Estimated NC and EE Contribs tab, define the Employer Contribution Rules and enter the
Employer and Employee Normal Cost amounts. Include any middle of year interest adjustment if
applicable. The information on the screen will vary depending on trust funds selected in the Plan
parameters.
3. On the Solvency DB Liabilities sub-tab, enter the initialization valuation liabilities split between
Actives, In Payment and Deferred participants. Similar to Going Concern, you need to combine
liabilities from “extra” categories and include them in one of the standard categories. Confirm the
total entered in the system matches the value in the valuation report.
4. On the Rules for Use of Surplus tab, select the Surplus Definition for Contribution Holidays (note
this field does not appear for Alberta or BC plans). If your plan has a DC component, then also
define whether DB surplus can be used for DC Employer contributions.
iv. Economic Assumptions tab has two sub-tabs for Going Concern and Solvency. Enter the applicable
information which varies by jurisdiction.
v. Asset Scenario tab is where you enter the asset amounts and target allocation by Investment Class, as
well as any outstanding amounts as of the prior valuation date. The asset amounts should ALWAYS be
entered on a CASH basis for the initialization. Quantify will calculate the accrued asset value based on
your input and display this on the left side of the screen for you to verify. Make sure the Reconciliation of
Ending Market Value is consistent with the prior valuation report before proceeding. An additional tab will
be displayed if you selected a CRA Flex fund in the Plan parameters. If you are working in an Alberta
plan, an additional SRA tab will be displayed.
vi. Asset Method – Going Concern tab currently has three options. You can select Fair Market Value,
Triangle Method or Calculated Externally. If you select the Triangle Method, make sure the amounts you
enter are on the appropriate basis of cash or accrued.
vii. Asset Method – Statutory Solvency tab currently has the same options as Going Concern. This tab only
applies to certain Calculation Jurisdictions.
viii. Asset Information tab is where you enter the windup expenses as well as any other additional values
required for your plan. Required fields will vary by jurisdiction as well as funds defined in the Plan
parameters. This tab also shows a summary of the asset values entered on other parameters. You
should confirm the amounts are consistent with the prior valuation report before proceeding.
34
ix. Amortization tab is where you enter all of the schedules from the prior valuation. Note that Date of Final
Payment should always be an end of month date even though the payment is theoretically beginning of
month. The sub-tabs will vary by jurisdiction.
1. Alberta and British Columbia plans will have separate subtabs for Going Concern and Solvency.
For Funding Relief Solvency Type schedules, the Date of First Payment will be used to identify
Going Concern schedules that should have an extended period when determining their PV for
Solvency purposes.
2. Federal plans will have one subtab for Going Concern.
3. Ontario plans will have separate subtabs for Going Concern and Solvency. For the two types of
funding relief Solvency schedules, Funding Relief and Consolidated, you will need to define
whether the period or amount should be reduced when future gains occur. The Date of First
Payment for the Funding Relief schedule will be used to identify Going Concern schedules that
should have an extended period when determining their PV for Solvency purposes.
4. Quebec plans will have one subtab for Solvency.
c. Once you are done entering information in the parameters, save your work and make sure you have a valid
Initialization Scenario. Return to the Basic Information screen and Launch the scenario. Note that launching the
Initialization Scenario will not create a client report or Internal Worksheets but will enable use of FR for
subsequent valuations.
35
Using Quantify FR for on-going reporting purposes

1. Asset scenario(s) for funding results calculations
a. A new Funding Valuation Report Scenario requires that a current year Funding Asset Scenario exist.
v. Select Standard for the Type and CA Funding for the Purpose.
vi. Select the prior Asset Scenario which was used for the prior trust period asset data.
vii. Enter the Trust Period End date. You can enter any date up to one year after the Trust Period Begin
Date. If the period between valuation dates is greater than one year, you will need to create multiple
Asset Scenarios, each with a trust period of twelve months. The last Asset Scenario can be less than
twelve months.
viii. Select the Basis for Transactions that will be used in the reconciliation of assets in Appendix B of the
valuation report. When the period between valuation dates is greater than twelve months, you cannot
change the basis on the intervening Asset Scenarios. The basis can only be changed on a “valuation
date”.
ix. Click Ok.
c. Fill out the asset reconciliation details. Most information will be entered in the Details section on the right side of
the screen but a few items will be entered in the Reconciliation section on the left side of the screen. Note that
although a date is required for each transaction entry (a beginning and end date is required for some entries)
Quantify will always assume middle of trust period timing for interest calculations.
i. Note that a Canadian Funding Asset Scenario may have as many as three tabs, each with a
Reconciliation section on the left side, and a Details section on the right side:
1. A DB Trust tab appears for all plans.
2. If the plan has a CRA Flex fund, the Asset Scenario will have separate tab for entering CRA Flex
account information.
3. For Alberta and BC plans, the Asset Scenario contains a separate tab for the SRA (Solvency
Reserve Account). The SRA is treated as a sub-account of the DB Trust. Even when the SRA tab
appears, the beginning and ending asset values on the DB Trust tab should reflect the entire DB
trust, i.e., including the SRA. Note that the DB Trust tab will show certain transaction and
outstanding amount entries specific to the SRA that affect the entire DB trust. The SRA tab itself
will show a separate reconciliation of the SRA, and will include entries for transfers between the
SRA and the main DB Trust fund which are not shown in the DB Trust tab.
d. There is no need to launch the Asset Scenario; it is ready to be used once everything is valid (blue checkmark in
upper left).
i. Beginning Market Value – This information is pulled from the prior Asset Scenario. Confirm that the
information is consistent with the prior valuation before proceeding.
ii. Employer Contributions – Enter this information in the Details section. Add a row for each type of
contribution that applies. (For Alberta and BC plans, the Employer contributions to the SRA are included
as part of the total Employer Contributions on the DB Trust tab. There are additional Employer
36
Contribution types specific to SRA that are selectable on the right panel. Employer Contributions with
SRA types entered on the DB Trust tab will automatically be added to the SRA tab.)
iii. Participant Contributions – Enter this information in the Details section. Add a row for each type of
contribution that applies.
iv. Transfers In/(Out) – Enter this information in the Details section. Add a row for each type of transfer that
applies. Transfers in should be entered as a positive value whereas transfers out should be entered as a
negative amount. For transfers between DB and CRA funds, you will need to enter offsetting transfers in
both funds. For example, a transfer from CRA to DB would have a transfer out in the CRA fund and a
transfer in in the DB fund. (For Alberta and BC plans, transfers from the SRA to the main trust should be
entered directly on the SRA tab.)
v. Other Receipts – There currently is no direct entry for “other receipts”. The suggested work-around for
entering such a transaction is to enter as a negative amount in the Benefit Payments section with type =
“other”.
vi. Investment Returns: Interest and Dividends, Realized Gains/(Losses), and Unrealized Gains/(Losses) –
Enter an amount for each in the reconciliation section. (For Alberta and BC plans the entries on the DB
Trust tab are split between those applicable to the main fund and those applicable to the SRA. The
entries applicable to the SRA will automatically be added to the SRA tab.)
vii. Benefit Payments – Enter this information in the Details section. Add a row for each type of benefit
payment that applies. (For Alberta and BC plans the Benefit Payments for SRA are included as part of
the total Benefit Payments on the DB Trust tab. There are additional Benefit Payment types specific to
SRA that are selectable on the right panel. Benefit payments with SRA types entered on the DB Trust tab
will automatically be added to the SRA tab.)
viii. Non-Investment Expenses – Enter this information in the Details section. Add one row to enter the total
expenses. (For Alberta and BC plans the Non-Investment Expenses for SRA are included as part of the
total Non-Investment Expenses on the DB Trust tab. There is an additional Type column included on the
right panel which allows you to specify which Non-Investment Expenses are for the main fund versus the
SRA. Non-Investment Expenses with type = SRA entered on the DB Trust tab will automatically be
added to the SRA tab.)
ix. Investment Expenses – Enter an amount in the reconciliation section. (For Alberta and BC plans there is
an additional entry for the investment expenses amount that corresponds to the SRA on the DB Trust
tab. This amount is automatically added to the SRA tab.)
x. Employer Withdrawals from SRA – This appears for Alberta and BC plans only. Enter the amount of any
Employer Withdrawals from the SRA. The amount entered on the DB Trust tab will automatically be
added to the SRA tab.
xi. Ending Market Value
1. Value Excluding Outstanding Amounts – There are two ways to enter this information. If the period
between valuation dates is more than twelve months and this is an Asset Scenario for an
intervening year, then you can enter the total end of period market value in the reconciliation
section. If the Asset Scenario ends on the current valuation date, you will need to enter how the
assets are invested on the Investment Class Items tab in the Details section. You need to check the
box Enter Investment Class Details to edit the parameter. Amounts should ALWAYS be entered on
a cash basis. Be sure to update the target allocation too. For Alberta and BC plans, the Ending
Market Value on the DB Trust tab must include the SRA value. Note that the investment class
breakdown entered in the Investment Class Items tab will be used for both the “Statement of
Market Value” and the “Asset Class Distribution” tables of Appendix B of the Client Report. If
different breakdowns are needed for these two report tables, manual edits will be required to the
merged report.
i) Investment Class Items - This tab must be completed for trust periods that coincide with a
valuation date, and includes the following items:
i. Investment Data Set: The dropdown lists the available quarterly investment
data sets. The default value is the available set closest to the valuation date.
37
ii. Investment Classes: There are 14 preset Fixed Income funds and 14 preset
Non-Fixed Income Funds. These funds coincide with the standard funds
included in the Canadian Pension Risk Disclosures Tool (RDT). Additionally,
there are three Other funds available for both Fixed and Non-Fixed Income
fund classes. The Other fund names are editable.
iii. Investment Class Grouping for Report: These groupings are preset for the
28 specific funds and selectable via dropdown for the six Other funds. The
amounts and allocations in these groupings will be displayed in the client
report
iv. Amount: Enter the actual dollar amount of each fund, not including any
outstanding receivables or payables.
v. Target Allocation: User-entered amounts must total to 100.0%
vi. Additional Parameters: For the 28 specific funds, these amounts are pre-
populated, and no additional entries are required. For the optional Other
funds, the following entries are required:
1. Fixed Income Other funds: Enter the parameters for Duration, Yield
impact on GC discount rate, and the Yield change
2. Non-Fixed Income Other funds: Enter an amount for the Value
Decrease
2. Net Outstanding Amounts – This information is entered on the End of Period Outstanding Amounts
tab in the Details section. You need to check the box Enter Outstanding Amounts to edit the
parameter. If you selected the accrued basis when you created the Asset Scenario, this information
is always required. If you selected the cash basis when you created the Asset Scenario, then this
information is only required when the trust period ends on the valuation date. It is NOT required for
intervening Asset Scenarios.
i) For Alberta and BC plans, additional outstanding amounts specific to the SRA are displayed
must be entered in the End of Period Outstanding Amounts on the DB Trust tab, and will also
automatically appear in the Outstanding Amounts section of the SRA tab.
3. When you are finished entering the information, review the Ending Market Value summary in the
reconciliation section to confirm it is consistent with your expectations. Also confirm there is no
Market Value Error (the Asset Scenario will be invalid if the Market Value Error is not zero).
e. If the period between valuation dates is greater than one year, continue to create additional Asset Scenarios until
the trust period end date coincides with your valuation date.
2. Asset Only Calculations
a. The best time to review your assets is once you are finished entering all of the information. You can run the asset
calculations before you have liability results. Additionally, the asset only launch will provide useful financial
information for populating the Risk Measure tab in a subsequent step.
b. Create a new Funding Valuation Report Scenario
v. Select Standard for the Type and CA Funding for the Purpose.
vi. Select the Valuation Date. Be sure to pick the date you want the valuation report to disclose. You cannot
adjust this date once you create the parameters.
vii. Select the prior funding scenario which was used for the prior valuation’s funding results, or the
Initialization Scenario if this is the first year FR is used to calculate the funding results.
38
viii. Click OK.

c. Update the asset related items on the Basic Information and Assets tabs.
i. On the Basic Information tab, select the final Asset Scenario from the drop-down menu and check the
box Assets Only Calculation.
ii. On the Assets tab, enter any required information. If you specified a smoothing asset in the prior
scenario, then you will have an additional tab to update the smoothing asset for the current valuation.
iii. The rest of the information in the parameters can be left blank at this time.
iv. Save the parameters and confirm that the parameters are valid.
d. Launch the Valuation Report Scenario.
e. Review the asset calculations.
i. Select the Reports tab.
ii. The Canadian Funding Internal Worksheets will load at the bottom of the screen.
iii. The Internal Worksheets can be printed and/or saved for checking and review. They can be saved in
iv. For Asset Only launch, the worksheets display a large red warning at the top of the table of contents, and
an Assets Only indicator will appear at the top of each page.
3. Required Liability Results
a. If Quantify was used to determine liabilities for funding then you will be able to directly link the Liability Results to
FR. Going Concern liabilities must come from a Pension Funding pass and the Solvency liabilities must come
from a Solvency pass.
b. If any other liability calculator was used to calculate funding liabilities then you generally cannot use the system.
c. Melder can be used to adjust any liability results for outstanding reserves or any other adjustment.
4. Producing Funding Results for the Current Valuation
a. Open the current Valuation Report Scenario that was created for the Asset Only calculations.
b. Go to the Basic Information tab and unlock the scenario (or copy the scenario if you wish to save the Assets Only
launch results). Uncheck the Assets Only Calculation checkbox.
c. For Ontario plans, the checkbox to apply new Ontario Funding Reform rules will default to the prior scenario’s
selection. If the prior scenario was run under the new rules, this box will be checked and un-editable. If the prior
scenario was run under the old rules, check this box if you wish to perform calculations under the new rules.
d. Enter Funding Scenario Details
i. Basic Information Tab
1. Under Valuation Changes the first Change Type will always be “Experience” to ensure the Going
Concern gain or loss development is based on the same assumptions used in the prior valuation. In
the Change Event Details section, select the liability passes for Going Concern, Solvency and
Windup. Note that the Going Concern options will be limited to liability results that are based on the
same interest rate assumption as the prior valuation. If this is the first year you are doing a
valuation and the prior scenario was the initialization, the system will use the Going Concern
interest rate entered in the initialization to identify the available passes. Enter any other required
information for the Experience event.
i) For Ontario and BC valuations: Input the prior year’s PfAD (%) in the Experience event. This
is entered as a percentage of the Going Concern liabilities and also applies to the Normal
Cost. This field will automatically be populated in any subsequent event. Additionally, if the
plan has liabilities that include benefits not subject to a PfAD increase, enter a separate
liability result that reflects only the benefits subject to the PfAD increase in the “Going
Concern subject to PfAD” selection field.
39
ii) For Quebec valuations: Input the prior year’s Stabilization Margin (%) in the Experience
event. This is entered as a percentage of the Going Concern liabilities and also applies to the
Normal Cost. This field will automatically be populated in any subsequent event.
2. Add additional “Change Types” for valuation changes (i.e. plan changes or assumption changes), if
i) Plan Changes can be run using the AMEND option. Liabilities associated with the
ii) Assumption Changes can be run using the ASSUMP option. Liabilities associated with the
additional assumption changes should be selected in the liabilities section.
iii) PfAD Changes (for Ontario and BC valuations) or STAB changes (for Quebec) can be made
to assist in measuring the effect of a change in the PfAD/Stabilization value. Enter the new
percentage with this Change Type.
iv) Changes in the Going Concern cost method can be run using the COST METH option. Going
Concern liabilities associated with the new cost method should be selected in the liabilities
section.
v) Changes in non-investment expense policy can be run using the Non-Investment Expense
option. If the prior policy was to add a dollar amount to normal cost and you only want to
change the amount in this year’s valuation, a new event is not required to do this. You can
simply update the dollar amount in the Experience event.
vi) Asset Method Changes can be run using the GC Asset option; an additional Solvency Asset
option is available for certain Calculation Jurisdictions. You will need to create a new Asset
Smoothing Method in Quantify to capture the change. To create a new Asset Smoothing
Method (ASM):
i. Open the Quantify project for the client and select Financial Reporting from
the tree on the left.
ii. Select Add Item and choose Asset Smoothing Method from the drop-down
box.
iv. Select the plan this method applies to from the drop-down box.
v. Select CA Funding for the purpose.
vi. Select the Adoption Date (the ASM can only be used to change methods in
a VRS with a valuation date equal to, or the day before, the Adoption Date).
vii. Click Ok.
viii. Select the appropriate Method Type for your plan and fill out the remaining
fields based on the Method Type.
3. When you are finished defining all of the event changes, you need to complete the Final Event Only
Liabilities section at the bottom of the screen. You may need to scroll down to see this section.
ii. Incremental Cost tab
1. Select the Basis for the Incremental Cost calculations – Solvency or Windup
2. The discount rates default to specific system fields as described on the screen. If you are
comfortable with the default values then you can leave the fields blank. Otherwise, enter any
override as applicable.
3. If liabilities are coming from Quantify, the projected liability amounts will come from the
Solvency/Windup pass mapped on the final event (assuming that projections have been set up
properly for the liability runs). You can override the projected liabilities or expected benefit
payments by entering values in the Future Liability Overrides section of the parameter.
iii. Liability Gain Sources tab
1. Select which rows should be included in the reconciliation of financial position by checking the
Include checkbox.
40
2. You can edit the row label by checking the Edit Label checkbox.
3. For each included row, enter a gain as a positive amount and a loss as a negative amount.
4. Any difference between the amounts entered on the screen and the total gain/loss will fall into the
miscellaneous category.
iv. Assets tab – If you ran the Assets Only Calculations, this information would have already been completed.
Review and update as needed.
v. Contributions tab
1. You can override the system calculation of Next Required Valuation Date.
2. Specify the contribution rules (not applicable for Alberta or BC plans).
3. Enter the DB contribution increase rates that will be used to calculate the contribution results in
valuation year + 1 and valuation year + 2.
4. Enter the non-DB contribution amounts for the next three years for the projected contribution
results.
5. Select “Decremented” in the Expected Employee Contributions and Pay Rates section if you wish
to use the decremented value fields in liability results for expected employee contributions and
expected pay rates in place of the corresponding, default existing non-decremented (“Non-
Decremented”) amounts.
vi. Surplus and Liability Transfer tab (Alberta, British Columbia, and Quebec plans)
1. Enter amounts if you are applying surplus. Amounts entered should be on the accrued basis.
2. If there were liabilities transferred in or out of the plan, enter the amount of liability transferred on an
accrued basis. As with all other entries on this tab, for interest calculations, the system assumes
the transfer was made at the midpoint between the current valuation and the prior valuation.
vii. Surplus, Prepayment and Liability Transfer tab (Federal and Ontario plans)
1. Enter amounts if you are applying surplus. Amounts entered should be on the accrued basis.
2. Enter amounts if you are applying prepaid contributions. Amounts entered should be on the
accrued basis.
3. If there were liabilities transferred in or out of the plan, enter the amount of liability transferred on an
accrued basis. As with all other entries on this tab, for interest calculations, the system assumes
the transfer was made at the midpoint between the current valuation and the prior valuation.
viii. Federal Average Solvency Ratio tab – Federal plans will need to enter information for the three year
period ending on the valuation date
ix. Amortization tab
1. The information on this tab will default to the prior valuation results. If you want to edit the
parameters, then uncheck the box Set to Prior Valuation Results.
2. For Ontario and Alberta plans, you can enter funding relief schedules that were established at a
prior valuation date.
i) For Ontario valuations that opt to use new Funding Reform rules, funding relief solvency
amortization types are not available.
3. For Quebec plans, in connection with funding relief, you can elect to extend the amortization period
(to 10 years only) for new Technical Actuarial Deficiency. (A funding relief election to eliminate
existing solvency amortization payments is handled by manually deleting each existing schedule on
the tab.)
x. Risk Measures tab - This tab enables you to specify the parameters used for purposes of the Risk
Measures calculation.
1. Liability Risk Measures - For each of the liability risk measures, select the Going Concern liabilities
that separately take into account each assumption change. Select liability results that are parallel to
the liability results selected for Going Concern purposes for the final event of the valuation, with
adjustments for each of the different risk measurements.
41
2. Externally Calculated Smoothed Asset Values - If your Valuation Report Scenario uses an
Externally Calculated actuarial value of assets, enter the amount determined for the Interest Rate
Risk and Asset Deterioration scenarios. The Market Value of Assets for use in this calculations can
be drawn from Internal Worksheets row 4.3.3.B.9. of the assets only launch.
3. Commuted Value Discount Rates used in Baseline Results - If your Valuation Report Scenario uses
CV rates in the liability calculations, enter the CV Select and Ultimate rates used for Going Concern
purposes for the final event of the funding valuation.
4. PfAD (for Quebec plans – STAB) to Measure Interest Rate Risk - For plans with jurisdiction either
Ontario, Quebec or British Columbia, Enter the PfAD/STAB calculated to use for the measurement
of Interest Rate Risk. See Internal Worksheet section 4.3.1. from the asset only launch for data to
support this calculation.
xi. Client Report Parameters tab – this tab is used to customize the valuation report and is not required to
produce the Internal Worksheets. The recommended approach is to initially select [none] and run the
Valuation Report Scenario to get the Internal Worksheets. This parameter will be covered in the next
section.
e. Go back to the Basic Information tab and Launch the Funding Scenario.
f. Select the Reports tab. The Internal Worksheets can be printed and/or saved for checking and review. They can
be saved in Excel or PDF formats. To make any revisions, you can go to the Basic Information tab and unlock the
parameters to make your edits.
g. Once the Internal Worksheets have been finalized, the next step is to create the Client Report Text parameters.
5. Create Client Report from Quantify
a. The first year you are using Quantify to calculate funding results, you will need to create Client Report Text (CRT)
parameters. The CRT functionality within Quantify FR allows associates to customize various sections and text of
the client report. You can choose to modify various sections and paragraphs of the default client report by
modifying the wording (e.g. insert customized comments, select check boxes to choose not to display certain
optional paragraphs or sections etc.). In subsequent years, the same CRT can be used from year to year if the
information is still applicable. If you need to modify it, just copy the most recent version and update as necessary.
i. Click on the Financial Reporting link under Project Items from within the client and project.
ii. On the Financial Reporting menu bar, click Add Item.
iii. Select Client Report Text from the drop down menu.
iv. Select New at the top of the Select Client Report Text Screen. Note that the Copy from Client option is not
available for Canadian pension funding reports.
v. Enter a Client Report Text Name and optionally, enter a brief description.
vi. The Owner must be Plan.
vii. Select the Purpose as CA Funding.
viii. Select the Plan that owns the CRT from the plan drop down.
ix. Select OK.
b. Update the CRT parameters. There are six main tabs that correspond to specific sections of the report.
i. Report Body tab deals with the first half of the report and it has three sub-tabs
42
1. On the Introduction tab, there is a series of questions that you need to answer by using the drop-
down menus. You can also add an optional paragraph that will be inserted into the valuation report.
2. On the Section 2 – Solv Fund Position/Excluded Benefits tab, there is a series of questions that you
need to answer by using the drop-down menus. Depending on your answers you may need to add
some additional text that will be inserted into the valuation report.
3. On the Section 4 – Actuarial Cert tab, there are a few questions that you need to answer by using
the drop-down menus.
ii. On the Appendix A – Terms of Engagement tab, you can choose from a standard list of phrases that will
be included in the valuation report. There is also a place to add custom language to describe any non-
standard terms of engagement.
iii. On the Appendix B – Stmt of Market Value tab, you can specify trustee information.
iv. Appendix C – Going Concern tab has four sub-tabs.
1. Asset Valuation Method tab is where you specify a description of the Going Concern asset method
that will be included in the valuation report. Quantify will also do a validation check to make sure the
asset method defined in the CRT is consistent with the asset method used in the contribution
results. This validation will be done when you launch the Valuation Report Scenario.
2. Economic Assumptions tab has a series of questions that you need to answer by using the drop-
down menus. The screen is split by Discount Rate, Inflation and Salary Increase.
3. Demographic Assumptions tab has a series of questions that you need to answer by using the
drop-down menus. The screen is split by Mortality, Withdrawal, Disability and Retirement.
4. Other Assumptions tab is where you can enter Spouse Assumptions.
v. Appendix D – Solvency/Windup tab may have as many as four sub-tabs.
1. Asset Valuation Method tab is where you specify a description of the Statutory Solvency asset
method that will be included in the valuation report. This sub-tab only applies to, and will only
appear for, Ontario and British Columbia plans.
2. Commutation Assumptions tab is where you specify the percentage of participants receiving
settlement based on commuted value
3. Rationale for Assumptions tab is where you specify how the different assumptions were developed.
4. Incremental Cost tab is where you specify projection assumptions.
vi. Appendix H – Certificate tab has questions regarding this appendix.
c. To use the new CRT, you will need to select it on the Client Report Parameters tab in the Valuation Report
Scenario. You can create a new Valuation Report Scenario by copying the parameters that were used to create
the contribution results or you can unlock the existing parameters and make the appropriate updates.
d. Go back to the Basic Information tab and Launch the Funding Scenario.
e. Once the job is successful, go to the Report tab and save the client report as an MS Word document. Once you
have the draft report, you will need to review and update the report according to the instructions in the document.
6. Rounding and Scaling
PLEASE NOTE, THE MODEL REPORT FOR 2017 AND LATER NO LONGER SUPPORTS ROUNDING OR
SCALING. PLEASE DO NOT USE THESE PARAMETERS.
Correcting Initialization Errors

Guide 3 – Correcting Input Errors in the Initialization
This guide is used when you run the current year Valuation Report Scenario and you discover there was an input error in the
initialization parameters.
43
1. Error in the Initialization Valuation Report Scenario (excluding initialization Asset Scenario errors)
a. Unlock the current standard Valuation Report Scenario (if there are multiple standard Valuation Scenarios
linked to the Initialization, unlock all of them).
b. Unlock the initialization Valuation Report Scenario.
c. Update the parameters as necessary and click Save.
d. Launch the initialization Valuation Report Scenario parameters from the Basic Information tab.
e. Open the current year Valuation Report Scenario and launch it.
2. Error in the Initialization Asset Scenario
a. Unlock the current standard Valuation Report Scenario (if there are multiple standard Valuation Scenarios linked
to the Initialization, unlock all of them).
b. Unlock the initialization Valuation Report Scenario.
c. From the Basic Information tab of the initialization Valuation Report Scenario, right click the initialization Asset
Scenario and select Copy.
d. Update the assets for any corrections and click Save.
e. Confirm that the new initialization assets are referenced on the Basic Information tab of the initialization Valuation
Report Scenario.
f. Launch the initialization Valuation Report Scenario parameters from the Basic Information tab.
g. Click on the Financial Reporting branch in the project.
h. Click on Add Item at the top of screen and select Asset Scenario. This will give you a list of Asset Scenarios in
the client.
i. If you are doing an annual valuation, click on the original Asset Scenario as of the current valuation date and
select Copy. If you had multiple trust periods between valuation dates, then you would need to copy the first
Asset Scenario in the chain after the Initialization.
j. On the Copy Asset Scenario dialogue box, give a new name to the revised Asset Scenario and select the revised
initialization Asset Scenario as the prior scenario. Click Ok.
k. Update the assets for any changes and make sure you have a blue check mark when finished. If you had multiple
years between valuation dates then you would continue to update the next Asset Scenario in the chain and so on
until you have revised all of the Asset Scenarios between the current and prior valuation dates.
l. Open the current standard Valuation Report Scenario. From the Basic Information tab, select the revised current
year Asset Scenario.
m. Launch the Valuation Report Scenario.
44
Quantify Financial Reporting – Irish Funding Workflow Guides
IRISH PENSION FUNDING WORKFLOW GUIDES

Intended Audience
These FR workflow guides have been written for WTW associates who will be doing, checking and reviewing Irish Pension
Funding Valuation Report Scenarios. This guide includes instructions for initialization and preparing valuations for subsequent
years.
Intended Use
Overview of Guides
Guide 1: Initializing FR for first-time Guide 2 - Performing Calculations

use using FR
funding results. produce funding results using FR are:
The initialization requires entry of • An Asset Scenario must be created,

funding results for the valuation containing asset reconciliation
preceding the first valuation in which FR information and outstanding
is to calculate valuation results and amounts as of the current valuation
produce a client report. date.
The purpose of the initialization is to requirements, a new Funding
capture all results and text commentary Valuation Report Scenario must be
that are needed either (a) as the starting created. The prior year funding
point for following valuation calculations results must be identified, along
or (b) to be displayed in the prior with the Asset Scenario. Additional
valuation sections of any following information regarding liabilities is
valuation client report. also required.
[Insert title
45
Guide 1 – Initialization using prior valuation funding results
1. Plan your work
a. Gather prior valuation worksheets for the plan, reflecting final results that were delivered to the client.
b. Gather most recent funding valuation report that was delivered to the client. Note, FR can only be initialized from
the prior valuation results.
c. Review the client and plan information in Quantify and update as necessary
2. Review Client and Plan information
a. Confirm the Legislative Country for the Plan Sponsor is Ireland. This is defined on the Plans tab of the Client
parameters. Contact your local Quantify office experts if your client has Legislative Country other than Ireland.
b. On the Basic Info tab of the Plan parameters,
i. Confirm the Formal Name of the plan as this will be used in the valuation report.
c. Save the parameters to ensure that they are valid before proceeding to the next section.
3. Replicate funding results from the prior valuation
a. To create a new Initialization Scenario:

ii. Click Add Item at top
iii. Select Valuation Report Scenario from list of items
iv. Click New
v. Name the new scenario
vi. Enter scenario description (optional, but recommended)
vii. Select Plan
viii. Select Initialization as the Type
ix. Select Irish Funding as the Purpose
x. Enter the initialization date. This should be the actual valuation date in the prior valuation report.
xi. Click OK
b. There are multiple tabs in the Initialization Scenario that need to be updated. Input the data required in each of
the tabs:
1. Select the ongoing liability – main result from the dropdown list of available liability results. This
dropdown includes all liability results as the valuation date with type = Pension Funding or Pension
Accounting. Additionally, if the valuation date is the end of a month (e.g. 31-Dec) or the beginning
of a month (e.g. 1-Jan) then liability results one day later / earlier will also be available for selection
i.e. there are no calculation or system funding differences between a 31-Dec-19 and a 1-Jan-20
valuation date
2. Select the discount rate approach. The three options are:
i) Dual Discount Rate
ii) Triple Discount Rate
iii) Yield Curve
46
3. If applicable, enter the liability result for ongoing valuation – financial impact of investing in bonds.
This is an optional step for initializations as the prior valuation results for these particular liabilities
are not displayed in the following valuation client report.
ii. Asset Scenario tab asks for reconciliation information regarding the plan assets in the intervaluation
period.
1. You should ensure that the numbers entered here are consistent with the degree of rounding /
scaling to be used in the following calculations e.g. if the valuation results are calculated and
presented as rounded / scaled to thousands in the client report, then all numbers should be entered
here in thousands e.g. enter 456,000 rather than 456.362 etc. .
2. Population of the target asset allocation is an optional step for initializations as the prior valuation
target asset allocations are not displayed in the following valuation client report.
iii. The Assumption Overrides tab gives you the ability to override the display of assumptions in the report.
These fields are optional and not required to be entered. You should only enter a value in these fields
after you have first launched the scenario, reviewed the results and confirmed what, if any, overrides are
needed.
iv. The Contribution Rates tab gives you the ability to:
1. specify the policies and methods to be used by Quantify FR when calculating the ongoing
contribution rates. Once set in the initialization, these fields will carry forward automatically as the
new default value for this plan in future valuations (and will not need to be updated in future
valuations unless a change is needed).
2. override the contribution rates calculated by Quantify FR if they do not match the final contribution
rates and amounts agreed with the client as per the prior valuation report. You should only enter a
value in any override after you have first launched the scenario, reviewed the results and confirmed
what if any overrides (or other method or policy changes) are needed.
v. The Funding Standard Valuation tab allows you to select the various Minimum Funding Standard (MFS)
liability runs and parameters needed by the system to calculate the MFS position, Funding Standard
Reserve and required sensitivities. Selection of sensitivity results is an optional step for initializations as
the prior valuation sensitivity results are not displayed in the following valuation client report.
vi. The Funding Proposal tab allows the user to select if there was a funding proposal in place for the plan,
and all relevant inputs if there is a funding proposal in place.
vii. The Client Report Parameters tab allows for additional customization of the valuation report:
1. Selection of an Appendix A is optional but, if selected in the initialization, it will automatically flow
through as the default into the following valuation scenario. Please refer to the "Appendix A and B
uploads" subsection in the separate "Customizing your Client Report" section of this guide for
further details on how to upload a Summary of Plan Provisions document into Quantify and have it
automatically available for selection in any Irish Funding or Accounting scenario for that plan.
2. Client Report Text: The Client Report Text ("CRT") object allows you to enter and specify a range
of other client report wording or information (e.g. demographic assumptions) associated with that
valuation. For an initialization, the only values that need to be completed are those that are
ultimately going to be displayed in the prior valuation sections of the following client report. To
create a CRT:
i) Click on the Financial Reporting link under Project Items from within the client and project.
ii) On the Financial Reporting menu bar, click Add Item.
iii) Select Client Report Text from the dropdown menu.
iv) Select New at the top of the Select Client Report Text Screen. Note that the Copy from Client
option is not available for Irish pension funding reports.
v) Enter a Client Report Text Name and optionally, enter a brief description.
vi) The Owner must be Plan.
vii) Select the Purpose as Irish Funding.
47
viii) Select the Plan that owns the CRT from the plan drop down.
ix) Select OK.
x) Update the CRT parameters. There are eight tabs that correspond to specific sections of the
report.
i. Scheme Details
ii. Investments
iii. Financial Assumptions
iv. Mortality Assumptions
v. Other Demographic Assumptions
vi. Changes in Assumptions
vii. Membership Reconciliation
viii. Inter-Valuation Experience
xi) To use the new CRT, you will need to select it on the Client Report Parameters tab in the
Valuation Report Scenario.
3. Rounding / Scaling: This field should always be set to the desired value. It will impact the FR
calculated results on launch of the initialization and will also flow through as the default value for
any future scenario for this plan.
c. Once you are done entering information in the parameters, save your work and make sure you have a valid
Initialization Scenario. Return to the Basic Information screen and Launch the scenario.
d. Click on the Reports tab and review the Internal Worksheet and determine if the prior valuation results were
correctly duplicated by Quantify. If yes, you are finished. If no, examine the elements of the calculated results and
determine what must be corrected. To correct the scenario, you must unlock it in order to make changes. Here
are some common issues encountered by users along with solutions:
i. If the Past Service liabilities (ongoing, funding standard, discontinuance) do not match, the problem is
likely to be in the liabilities. Liabilities can be adjusted by unlocking and adjusting the Liability Run (to fix
setup issues) or alternatively using the Melder tab in the Liability Run (to fix one-off or non-standard
issues).
ii. If the future service contribution rates do not match, you should review all the underlying calculation
components documented in the Internal Worksheet to ascertain if an input value or parameter on the FR
scenario needs to be corrected. If the difference is due to a one-off transition difference or a non-
standard calculation, then the relevant available overrides in the FR scenario screens can be used.
e. Once you are done entering, save your work and make sure you have a valid Initialization Scenario. Return to the
Basic Information screen, Launch the scenario and verify the final results.
48

1. Asset scenario(s) for funding results calculations
a. A new Irish Funding Valuation Report Scenario requires that a current year Irish Funding Asset Scenario exist.
v. Select Standard for the Type and Irish Funding for the Purpose.
vi. Select the prior Asset Scenario which was used for the prior trust period asset data.
vii. If the valuation date for the prior Asset Scenario is not the latest for the plan, the valuation date will be
automatically set to the next valuation date defined for the plan. When the valuation date for the prior
Asset Scenario is the latest for the plan, the next valuation date must be entered. You can enter any date
up to three and a half years after the latest valuation date.
viii. Click Ok.
c. Fill out the asset reconciliation details and enter the end of year Market Value of Assets. There is no need to
launch the Asset Scenario; it is ready to be used once everything is valid (blue checkmark in upper left).
2. Producing Funding Results for the Current Valuation
a. Create a new Funding Valuation Report Scenario

v. Select Standard for the Type and Irish Funding for the Purpose.
vi. Select the prior funding scenario which was used for the prior valuation’s funding results, or the
Initialization Scenario if this is the first year FR is used to calculate the funding results.
vii. If the valuation date for the prior Valuation Report Scenario is not the latest for the plan, the valuation
date will be automatically set to the next valuation date defined for the plan. When the valuation date for
the prior Valuation Report Scenario is the latest for the plan, the next valuation date must be entered.
You can enter any date up to three and a half years after the latest valuation date
viii. Click OK.
b. Enter Funding Scenario Details
1. Select Asset Scenario from the dropdown.
2. Select the ongoing liability – main result.
3. Select the discount rate approach. The three options are:
i) Dual Discount Rate
ii) Triple Discount Rate
iii) Yield Curve
49
4. Select the liability result for ongoing valuation – financial impact of investing in bonds.
ii. The Assumption Overrides tab gives you the ability to override the display of assumptions in the report.
These fields are optional and not required to be entered.
iii. The Contribution Rates tab gives you the ability to override additional values if they are not automatically
and correctly flowing through from the on-going Liability Result that is selected on the Basic Info tab.
iv. The Funding Standard Valuation tab allows you to select the various Minimum Funding Standard (MFS)
liability runs and parameters needed by the system to calculate the MFS position, Funding Standard
Reserve and required sensitivities.
v. The Funding Proposal tab allows the user to select if there was a funding proposal in place for the plan,
and all relevant inputs if there is a funding proposal in place.
vi. The Client Report Parameters tab allows for additional customization of the valuation report
c. Go back to the Basic Information tab and Launch the Funding Scenario.
d. Select the Reports tab. The Internal Worksheets can be printed and/or saved for checking and review. They can
be saved in Excel or PDF formats. The Client Report can be printed and/or saved as either a Word document or a
PDF file. To make any revisions, you can go to the Basic Information tab and unlock the parameters to make your
edits.
50
Quantify Financial Reporting – Accounting Workflow Guides
FAS PENSION & FAS OPRB WORKFLOW GUIDES

Intended Audience
This section on FR has been written for WTW associates who will be doing, checking and reviewing FAS Pension & FAS
OPRB Net Periodic Benefit Cost (NPBC) valuations and FAS 158 disclosures. This guide includes instructions for initializing
FR and preparing valuations for subsequent years.
Intended Use
Overview of guides
Guide 1: Initializing FR for first-time use Guide 2 - Performing Calculations using FR
This guide has two sections, as the process This second guide is for ongoing use to produce client
will change based on the results required for results. The steps to produce FAS PENSION or FAS
the client and plan OPRB NPBC and disclosures using FR are:
Guide 1a: Initialization using FAS • An Asset Scenario must be produced, containing
disclosure results (or new client set-up) basic asset reconciliation information and
assumptions as to expenses and future contributions
All initialization of FR for FAS PENSION & to the plan.
FAS OPRB requires that the most recent • To generate NPBC at the beginning of the year, a
disclosure information be used as the starting new NPBC Scenario must be created. The prior
point. Information from the most recent Disclosure Scenario (or Initialization Scenario if this
disclosure may need to be input manually is the first year of using FR) must be identified, along
within an FR initialization scenario. with the Asset Scenario. Additional information
regarding liabilities is required
Guide 1b: Duplicating NPBC at Initialization • For disclosure purposes at the end of the year, a
new Disclosure Scenario must be created. The prior
If NPBC has been determined since the prior NPBC Scenario must be identified, along with the
disclosure, additional steps are needed to Asset Scenario. Additional information regarding
recreate the Net Benefit Expense (NPBC) in liabilities is required.
FR. Alternatively, you can wait for the • FR requires that Disclosure and NPBC be done in
upcoming disclosure to be performed to two scenarios, even if the same assets and liabilities
initialize FR. are used for both. Only one Asset Scenario is
required if the assets are identical.
Guide 3: Implementing Policy Changes
To change policies with regard to asset smoothing methods in either FAS PENSION or FAS OPRB, or to change
amortization policies, additional events must be added in the scenarios, in the same manner as for plan amendments
or assumption changes. The initial policies are created in the Initialization Scenarios described in Guide 1. Guide 3
describes how to change policies after the Initialization step.
Guide 4: Granular Interest Cost Approach
This guide describes how to incorporate the Granular Discount Rate Method in a NPBC or Disclosure Valuation
Report Scenario.
[Insert title
51
Initializing FR for first-time use
Guide 1a –Initialization using FAS Pension or FAS OPRB disclosure results
1. Plan your work
b. Gather most recent FAS Pension or FAS OPRB disclosure report that was delivered to the client. Note, FR can
only be initialized from a disclosure report. If expense has been done since the most recent disclosure, you may:
i. Wait until after the next disclosure to initialize, or
ii. Initialize from the most recent disclosure and recreate the NPBC (see Guide 1b).
a. Open Quantify project for the client and select Financial Reporting
i. Click Add Item button at top
1. Click New
3. Select Plan name
5. Select FAS Pension Disclosure or FAS OPRB Disclosure as the Purpose (note for FAS OPRB
reporting, your plan must be set up in Quantify as an OPRB plan – see Clients & Plans section)
6. Select Manual for Initialization Option and enter the fiscal year begin date for the disclosure you are
using for initialization
7. Click OK
iii. There are 11 tabs shown on the initialization screen. The last tab requires no input (except for
settlements under PBO/APBO, if applicable, and current liabilities); it simply demonstrates the
reconciliation of the plan’s funded status once all of the data is entered. Input the data required in each of
the tabs:
1. Basic Info screen – enter the expected return on asset assumption and the administrative expense
policy.
2. Key Dates screen – review the measurement year dates and the fiscal year dates for correctness.
3. Asset Method screen – Enter the smoothing method used to determine the expected return on
assets for NPBC purposes. FR supports two methods: Fair Market Value method (no smoothing) or
the Adjusted Market Value method, which has some options on the number of years of smoothing
and the method to be used to determined expected return. If your plan uses another method, then
you must choose “Calculated Externally” and continue to calculate the smoothed asset value
outside of FR.
4. Amort Policy screen includes information on how to determine the amortization payments for
accumulated gains and losses and for Prior Service Costs. The gain/loss portion requires the
selection of deferred or immediate recognition in P&L. If immediate recognition is chosen, an option
permits use of a 10% corridor as the threshold for which amounts in excess are immediately
recognized. If deferred recognition is chosen, a greater number of options are available. Note the
default for deferred recognition is to subtract the greater of 10% of the PBO or the assets before
amortizing the gain/loss. However, more complex algorithms can be described. Prior Service Cost
choices include which amortization period to use – one based on average working lifetime or
inactive life expectancy or a fixed period, and how to treat negative Prior Service Costs that are
created when other, positive bases exist. If the plan pays lump sums and settlement accounting is
52
reflected when lump sum payments exceed service cost plus interest cost, check the “Use
Settlement Threshold” box.
5. Asset Info screen asks for historical asset information.
6. Asset Scenario screen asks for reconciliation information regarding the Trust and Non-Trust assets
in the measurement year that ends with the initialization disclosure. Note that some assumption
data is also entered here – the expected administrative expenses to be added to the following
year’s service cost are in this screen. Employer contribution information entered should include
future contributions which are to be taken into account for determining the expected return on
assets for the following year’s NPBC. If this information is known, or if you will be running next
year’s NPBC pursuant to Guide 1b, be sure to enter this information here. If your Plan has been
setup up in Quantify as an unfunded plan or with Funded Type = Funded/Other Reserves then both
the Trust and Non-Trust Details tabs will be displayed. Refer to the separate Client & Plan section
in this guide for further details.
7. Assumptions & Demog screen contains historical information, including participant information, so
that prior year data is available for the next NPBC report. Note that the trend rate inputs will not be
automatically populated in the report section for trend rates in the current release.
8. Benefit Oblig screen asks for historical PBO/APBO and ABO information, plus the NPBC details
from the year that ended with this disclosure.
9. Amort Data screen includes three tabs for the three types of amortization bases: Transitional
Amounts, Prior Service Costs and Gain/Losses. Click on each tab and Add lines until all bases and
payments are entered.
10. NPBC screen allows for entry of the remaining NPBC components and FAS88 events or other
adjustments.
11. Reconciliation screen pulls together the data previously entered to confirm the entries balance. If
the funded status information does not match your disclosure report, go back to the appropriate
screen to correct the data entered.
b. Once data entry and review are complete, return to the Basic Info screen and Launch this scenario, then Publish
it by clicking on the Publish button after the scenario is launched and the results have been reviewed and
confirmed.
53
Guide 1b – Duplicating NPBC at Initialization
This guide is used if the NPBC for the measurement year following the most recent disclosure has been calculated. Since FR
only allows initializing after disclosure, the NPBC previously calculated must be reproduced in FR before using FR for the next
disclosure. Use this guide after initialization (guide 1a).
1. Asset scenario
a. A new NPBC Scenario requires that an Asset Scenario exist. The Asset Scenario entered in the Initialization
Scenario can be used, if the expected administrative expenses to be added to the following year’s service cost
are inputted and the employer contribution information includes future contributions which are taken into account
for determining the expected return on assets for the following year’s NPBC.
b. This guide assumes that the initialization Asset Scenario can be used.
c. If the initialization Asset Scenario cannot be used (for example, because the assets used at disclosure were
estimated and different asset values were used for NPBC), see Guide 2 for how to set up a new Asset Scenario.
2. Liability Information
a. If another system was used for the beginning of year NPBC liabilities you should use the Quantify Accounting
Input Tool to manually input and create your XML liabilities file for importing into Quantify. See the earlier section
‘Preparing Your Liabilities for Use in Quantify’ for information on how this is done.
3. Create a new NPBC Scenario
b. Select Add Item and choose Valuation Report Scenario from drop-down box.
c. Select New and name the scenario.
d. Select the plan this scenario applies to from the drop-down box.
e. Select Standard for the Type and FAS Pension NPBC or FAS OPRB NPBC for the Purpose.
f. Select the Initialization Scenario with the prior disclosure information and click OK.
4. Enter FAS Expense Scenario data
a. The Asset Scenario from the Initialization scenario (see above step 1) is selected for you by default.
b. Under Valuation Changes:
i. First “Change Type” line can be either “Experience”, if no assumption changes were made, or
“Experience-Assumption”, if your liabilities also include an assumption change. Select the liability results
and other applicable information in the Change Event Details panel.
• Note that you may change the Selected Valuation Date for an event in order to select a projected
liability result from an older liability run. You can also choose to enter a custom description for the
event (up to 18 characters). These descriptions will flow into the Internal Worksheet as the Event
header descriptions for the events.
ii. Add additional “Change Types” for valuation changes (i.e. plan changes, special events etc.) if needed
by clicking on the ADD button and selecting the appropriate Change Type. For each change type, select
the appropriate liability results and other applicable information in the Change Event Details panel.
• If the scenario includes any assumption-type events, you may choose to select an “Assumption
Category” from the dropdown list provided. This field only appears for assumption events and its
purpose is to enable a breakdown of assumption gain/loss into more granular level (into a predefined
list corresponding with the categories used by FAStrack). This optional breakdown is provided by
local client teams and flows into the Internal Worksheet and into FAStrack when imported as part of
a FAStrack set.
iii. In the “Change Event Details” section of the last Change Type, verify that the correct Expected Rate of
Return on assets is entered. If this is not correct, you can change it by adding another Change Type for
Rate of Return.
54
5. Launch NPBC Scenario
a. Once the scenario has launched, review the client report or the Internal Worksheet in the Reports tab and
determine if the NPBC was correctly duplicated. If yes, you are finished. If no, examine the elements of the NPBC
and determine what must be corrected.
b. Depending on the issue, corrections can take place by correcting the NPBC scenario input or by applying an
Override (described in step 6 below). To correct the NPBC scenario, you must unlock it in order to make changes.
Here are some common issues encountered by users along with solutions:
i. If Service Cost and Interest Cost do not match, the problem is likely to be in the liabilities. Determine if
the funded status matches your prior NPBC calculations. Liabilities can be adjusted using the Quantify
Accounting Input Tool (see ‘Preparing Your Liabilities for Use in Quantify’).
ii. If only Service Cost does not match, but Interest Cost does match, the problem can possibly be corrected
by adjusting the Administrative Expense policy.
iii. If you want to use compound interest instead of simple interest, you will need to make that selection on
the Overrides tab.
iv. If return on assets does not match, you may be able to adjust expected contributions.
v. Sometimes amortization payments can change by very small amounts. This should be fixed using an
Override event.
vi. If you were able to correct the NPBC scenario to duplicate the prior calculations, Launch the final
scenario and then Publish it by clicking on the Publish button after the scenario is launched and the
results are reviewed and confirmed.
6. Overrides
a. If the NPBC scenario cannot be corrected to duplicate the prior calculation, you can manually override certain
calculated amounts in the NPBC scenario. You will want to have a printout of an Internal Worksheet generated by
the NPBC scenario, for reference.
b. Unlock the NPBC scenario by clicking the Unlock button.
c. Click on the Add button in the Valuation Changes panel. Select Change Type Override.
d. Click on the Overrides tab, select the Results sub-tab and enter the required overrides.
e. Please refer to the separate section in this guide headed ‘Applying Overrides’ for more details.
55
Using FR to perform calculations
Guide 2 – Using FR to perform FAS Pension or OPRB calculations for on-going reporting
This guide is used after FR has been initialized to produce FAS Pension or FAS OPRB expense and disclosure calculations
and client reports.
1. Asset scenario for NPBC calculations
a. A new NPBC Scenario requires that an Asset Scenario exist. The Asset Scenario used for disclosure can be used
if certain assumptions are also entered (i.e. expected employer contributions and administrative expenses).
b. If the disclosure Asset Scenario cannot be used (for example, because the assets used at disclosure were
estimated and different asset values were used for NPBC), then create a new Asset Scenario by copying the
disclosure Asset Scenario and update the inputs as needed.
a. If another system was used for the beginning of year net benefit expense (NPBC) liabilities you should use the
Quantify Accounting Input Tool to manually input and create your XML liabilities file for importing into Quantify.
See the earlier section ‘Preparing Your Liabilities for Use in Quantify’ for information on how this is done.
b. In order for additional pay to be selected an as option in the Overrides section of the Valuation Report Scenario,
the additional pay value must be stored in one of the first ten user spare statistic fields in the liability results.
3. FAS Pension or FAS OPRB Expense Calculations
a. Create a new NPBC Scenario

v. Select Standard for the Type and FAS Pension NPBC or FAS OPRB NPBC for the Purpose.
vi. Select the prior disclosure scenario which was used for the prior year’s disclosure or the Initialization
Scenario if this is the first year FR is used. Click OK.
b. The Asset Scenario from the prior disclosure is selected for you by default.
i. Certain items affecting the expense must be entered in the Asset Scenario used for expense. If these
were entered in the Asset Scenario for the disclosure, no new Asset Scenario is needed. The items are:
1. Employer contributions anticipated for the following measurement year.
2. Expected administrative expenses must also be entered in the Asset Scenario.
ii. If these were not known at disclosure, or the FAS assets have changed since disclosure, then create a
new Asset Scenario for expense by copying the disclosure Asset Scenario and update the inputs as
needed.
iii. You may leave the Asset Scenario as the default selection (same as the disclosure scenario) if assets
have not changed and no changes in expected employer contributions or administrative expenses are
required.
c. Enter FAS Pension or FAS OPRB Expense Scenario data
i. Select Asset Scenario as determined in the above step.
ii. Under Valuation Changes:
1. First “Change Type” event can be either “Experience”, if no assumption changes were made (the
most common situation), or “Experience-Assumption”, if the liabilities include an assumption
[Insert title
56
change. Select the liability results and other applicable information in the Change Events Details
panel.
2. In Event Details, verify that the correct Expected Rate of Return on assets is entered. By default,
the expected rate of return for the prior year is carried over from the prior disclosure to the current
beginning of year NPBC scenario. If this is not correct, you can change it by adding a Change Type
for Rate of Return and inputting your updated expected rate of return on assets for the year.
3. Add additional “Change Types” for valuation changes (i.e. plan changes, special events etc.) if
c. Curtailments can be run using the CURTAIL option. Liabilities associated with the curtailment
should be selected in the liabilities section.
d. Settlements can be run using the SETTLE option. Liabilities associated with the settlement
should be selected in the liabilities section. An Asset Scenario must be created that includes
a (trust and/or non-trust) settlement amount. Note, the PBO change in the settlement event
should be the same as the total settlement amount entered in the Asset Scenario (any
additional change in PBO associated with the settlement should be included in a separate
event).
e. Special termination benefits can be run using the TERM-BENS option. Liabilities associated
with the special termination benefits should be selected in the liabilities section.
f. Acquisition can be run using the ACQUIRE option. Liabilities associated with the acquisition
the assets attributed by the acquisition.
g. Manual overrides can be applied to certain calculated results using the OVERRIDE option.
tab which enables you to override a variety of results values for the scenario. Results override
values impact the Override event and any subsequent events. Please refer to the separate
section in this guide headed ‘Overrides’ for more details on this functionality.
4. Note that FR builds on the event types as they are entered. Thus, liabilities for a plan change to be
valued as an Amendment type must be run using the same assumptions that were used in the
event above. An Assumption change line must be used to change the assumptions from the line
above.
5. If you select liability results with an effective date prior to the fiscal year begin date, FR will roll the
liabilities to the fiscal year begin date. In this case:
• FR will calculate a default benefit payment based on the expected benefit payments in the
liability results and the period from the liability results valuation date to the fiscal year begin
date.
• You can override this benefit payment amount if you know the actual benefit payments for this
period.
• There is a separate benefit payment field for each event that is entered based on the liability
result valuation date of the selected liabilities for that event.
• This procedure does not apply when the liability result valuation date is equal to the fiscal year
begin date.
d. The Additional Info tab is available for pension plans if you need to add fixed amounts to the liabilities when the
granular approach is not used. See section “Applying Overrides” for more information.
e. Click on the Overrides tab, parameters sub-tab to apply any changes to the default weighting factors or to change
the interest methodology to use compound instead of simple interest. For regional custom client reporting, select
the relevant spare statistic under Additional Pay, otherwise, the default setting is “Set equal to total pay”.
57
f. Click on the Sensitivities tab and select liabilities if you are sending results to FAStrack.
g. Click on the Client Report Parameters tab and review section "Customizing Your Client Report” to see how you
can save time using the available report automation features.
h. Launch NPBC Scenario.
i. Select the Reports tab. The Reports tab will show five choices: NPBC Internal Worksheets, NPBC Only Client
Report, NPBC One Stop Client Report, Disclosure and Expense Cover Letter, and Disclosure and Expense
Exhibits (Excel-based version).
i. The Internal Worksheet can be printed and/or saved for checking and review, in either a PDF or Excel
format.
ii. The Client Reports (NPBC One Stop provides both prior disclosure and following year NPBC exhibits
within one report) can be printed and/or saved as either a Word document or a PDF file.
j. Once the report has been finalized, publish the NPBC Scenario by clicking on the Publish button in the Basic Info
tab.
4. Asset scenario for disclosure calculations
a. Market-related value of assets:

i. Determine if Market-Related Value of Assets are calculated within FR or calculated externally.
1. If this is the first year of FR use, look in Initialization Scenario for the Asset Method screen to see if
Calculated Externally was chosen.
2. For subsequent years, look in the prior year’s Valuation Scenario to determine method used.
ii. If smoothed asset values are Calculated Externally, calculate using same approach as last year.
iii. Note, market-related value of assets is not needed to perform a disclosure. However, if this step is
performed when creating the Asset Scenario to be used for disclosure, the same Asset Scenario can
then be used for determining the NPBC.
b. If necessary, calculate reconciled assets.
c. Enter asset information in Quantify.
ii. Select Add Item and choose Asset Scenario from drop-down menu.
1. Select New and name the new scenario. Complete the description if you feel this scenario needs
further explanation.
2. Select the plan this scenario applies to from the drop-down box.
3. Select the prior Asset Scenario which was used in the prior year’s valuation. If this is the first year
FR is being used, select the Initialization Scenario. Note, a prior scenario must be launched in order
to be available in the drop-down box.
4. Select the Accounting Purpose and select Standard for the Type. Click OK.
d. Enter the reconciled asset information in the left-hand entry area of the Trust and Non-Trust Details tabs. Note the
following:
i. If your Plan has been set up as an unfunded plan or with Funded Type = Funded/Other Reserves then
both the Trust and Non-Trust Details tabs will be displayed. The Non-Trust tab is similar to the Trust tab.
The only difference is that the amount entered in the Benefit Payments field on the Non-Trust tab will not
be included in the calculation of the expected return on assets. Refer to the separate Client & Plan
section in this guide for further details.
ii. If the asset detail available does not include the full investment return breakdown between interest &
dividends, realized gains/losses and unrealized gains/losses, you may enter all investment return
information as “Interest & Dividends” in FR.
iii. Enter actual dates and amounts of employer contributions in the right-hand Details section which
appears when you click on “Employer Contributions”.
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iv. For benefit payments and administrative expenses, you may enter one amount in the Details section to
the right. It is possible to enter more than one amount and multiple dates if, for example, a very large
lump sum was paid that could have special treatment. By default, the period over which the payments
were made is set to the measurement year. FR will use a weight factor for the mid-point of this range. If
you know the exact date on which certain payments were made, enter it in the Begin Date column and it
will be automatically carried to the End Date column.
v. For settlements and acquisitions, the date must be Measurement Year Begin for NPBC and
Measurement Year End for Disclosure. These dates cannot be edited by the user.
vi. For accounting assets, you must enter the fair market value separately by the investment classes in the
Details section.
vii. Once all information has been entered, be sure that your Asset Scenario does not contain an error (“MV
Error” should be zero).
e. Review planning documentation or prior year’s report to determine the appropriate administrative expense policy.
Enter this information at the top of the Details section on the right. Like market-related value of assets, this
information will be used later for the NPBC calculations and should be entered now to avoid having to create a
separate Asset Scenario for NPBC.
f. If the asset smoothing method is Calculated Externally within FR, enter the calculated amount in the Asset
Scenario.
5. FAS Pension and FAS OPRB Disclosure Calculations
a. Create a new Disclosure Scenario

v. Select Standard for the Type and FAS Pension Disclosure or FAS OPRB Disclosure for the Purpose.
vi. Select the prior NPBC scenario which was used for the prior year’s expense. Click OK.
b. Enter FAS Disclosure Scenario data
i. Select Asset Scenario created for disclosure.
1. If no changes in plan provisions or assumptions, including discount rate, are being made at
disclosure and if the disclosure is being done from the same census data as was used for expense,
no additional liability results are required. The first “Change Type” should be “Experience” in this
case. Select the same liability results that were used in the last event line of the prior NPBC
scenario and, if necessary, enter the same actual benefit payments.
2. First “Change Type” event can be either “Experience”, if no assumption changes were made, or
“Experience-Assumption”, if assumption changes were made and included in the experience
liability results. Select the liability results for this event.
3. Add additional ‘Change Types’ for valuation changes (i.e. plan changes, special events, etc.) if
needed by clicking on the Add button and selecting the appropriate Change Type.
c. Curtailments can be run using the CURTAIL option. Liabilities associated with the curtailment
should be selected in the liabilities section.
d. Settlements can be run using the SETTLE option. Liabilities associated with the settlement
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a (trust and/or non-trust) settlement amount. Note, the PBO change in the settlement event
should be the same as the total settlement amount entered in the Asset Scenario (any
additional change in PBO associated with the settlement should be included in a separate
event).
e. Special termination benefits can be run using the TERM-BENS option. Liabilities associated
with the special termination benefits should be selected in the liabilities section.
f. Acquisition can be run using the ACQUIRE option. Liabilities associated with the acquisition
the assets attributed to the acquisition.
g. Manual overrides can be applied to certain calculated results using the OVERRIDE option.
tab which enables you to override a variety of result values for the scenario. Results override
values impact the Override event and subsequent events. Please refer to the separate
section in this guide headed ‘Overrides’ for more details on this functionality.
4. Note that FR builds on the event types as they are entered. Thus, a plan change to be valued as an
Amendment type must be run using the same assumptions that were used in the event above. An
Assumption change line must be used to change the assumptions from the line above.
5. You may choose to enter a custom description for each event (up to 18 characters). These
descriptions will flow into the Internal Worksheet as the Event header descriptions for the events. If
the scenario includes any assumption-type events, the user may choose to select an “Assumption
Category” from the dropdown list provided. This field only appears for assumption events and its
purpose is to enable a breakdown of assumption gain/loss into more granular level (into a
predefined list based on FAStrack input). This optional breakdown is provided by local client teams
and flows into the Internal Worksheet and into FAStrack when imported as part of a FAStrack set.
6. If you select liability results with an effective date prior to the fiscal year end date, FR will roll the
liabilities to the fiscal year end date. In this case:
• FR will calculate a default benefit payment based on the expected benefit payments in the
liability results and the period from the liability results valuation date to the next measurement
year begin date.
• You can then override this benefit payment amount if you know the actual benefit payments for
this period.
• There is a separate benefit payment field for each event that is entered based on the liability
result valuation date of the selected liabilities for that event.
• For disclosures where the liability result valuation date is prior to the measurement year begin
date, FR will roll liabilities in this manner up to the measurement year begin date and then use
the actual benefit payments in the Asset Scenario to roll the liabilities to the measurement year
end date. There is an override for the benefit payments from the Asset Scenario for each
event.
• For disclosures where the liability result valuation date is after the measurement year begin
date, FR will roll liabilities in this manner up to the measurement year end date.
• This procedure does not apply when the liability result valuation date is equal to the
measurement year end date.
c. If the expected rate of return for the next year will be changed, you can reflect the change in the disclosure
scenario by clicking on the Expected Rate of Return row in the Change Event Details panel, prompting display of
the override field highlighted in the following screenshot:
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The rate entered in the override field will be reflected in the Next Year NPBC Estimate section of the Disclosure
Internal Worksheets and will also be used in the following year’s NPBC Scenario if the Disclosure Scenario is
launched via “Launch One Stop” to automatically create the following year’s NPBC Scenario.
d. The Additional Info tab is available for pension plans if you need to add fixed amounts to the liabilities when the
granular approach is not used. See section “Applying Overrides” for more information.
e. Click on the Overrides tab to select the additional pay to be used for regional custom client reporting. Under the
Additional Pay section, select the relevant spare statistic, otherwise, the default setting is “Set equal to total pay”.
f. Click on the Sensitivities tab and select liabilities if you are sending results to FAStrack.
g. Click on the Client Report Parameters tab and review section "Customizing Your Client Report” to see how you
h. Launch Disclosure Scenario. Note it is possible to launch both the disclosure scenario and a one-stop NPBC
scenario built from the disclosure scenario in one step. See the "One-Stop Accounting Valuations" section of this
user guide for details.
i. Select the Reports tab. The Reports tab will show four choices: Disclosure Internal Worksheets, Disclosure Client
Report, Disclosure Cover Letter, and Disclosure Exhibits (Excel-based version).
i. The Internal Worksheets can be printed and/or saved for checking and review. They can be saved in
Excel or PDF format.
ii. The Client Report can be printed and/or saved as either a Word document or a PDF file.
j. Once the report has been finalized, publish the Disclosure Scenario by clicking on the Publish button in the Basic
Info tab.
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Guide 3 – Implementing Policy Changes
This guide is used if changes in asset smoothing methods or amortization policies are needed from the existing set-up in FR.
You can change the asset smoothing method and/or amortization policy in an NPBC valuation scenario, but not in a
Disclosure scenario. (Examples of when this is needed: to change the Market-Related Value of Assets, to implement a policy
for applying a negative Prior Service Cost to offset previous positive Prior Service Costs in etc.)
1. Change Asset Smoothing Method
a. Change in Market-Related Value for Accounting

i. Open project in Quantify, select Financial Reporting, and select Add Item.
ii. Select Asset Smoothing Method from drop-down box.
iii. Select New.
iv. Name the new asset smoothing method.
v. Select the Plan for which this method will be used.
vi. Select FAS Pension or FAS OPRB for the Purpose from the drop-down box. Type must be Standard – no
entry is needed for this option.
vii. Select the Effective Date for the change in method.
viii. Click OK.
ix. From the drop-down box, select the method you wish to use. FR supports two methods: Fair Market
Value method (no smoothing) or the Adjusted Market Value method, which has some options on the
number of years of smoothing and the method to be used to determined expected return. If your plan
uses another method, then you must choose “Calculated Externally” and calculate the smoothed asset
value outside of FR.
x. Once the method change has been described, select Save.
xi. To use the new method, an ASSET METHOD line must be added to a Valuation Scenario. To use the
new smoothing method, select the new Asset Method Smoothing Scenario from the Asset Smoothing
Method drop-down box under Event Details.
2. Change Amortization Policy
a. Open project in Quantify, select Financial Reporting, and select Add Item.
b. Name the scenario. Select FAS from the Purpose drop-down box (the only choice available).
c. Click OK.
d. Change Amortization Policy for Gain/Loss bases.
i. The gain/loss portion requires the selection of deferred or immediate recognition in P&L. If immediate
recognition is chosen, an option permits use of a 10% corridor as the threshold for which amounts in
excess are immediately recognized. If deferred recognition is chosen, a greater number of options are
available. Note the default for deferred recognition is to subtract the greater of 10% of the PBO or the
assets before amortizing the gain/loss. To use this method, check the “Use Default” box. However, more
complex algorithms can be described.
ii. In addition to the amortization algorithm, you can describe which amortization period to apply (average
future working lifetime (AFWL), average remaining life expectancy (ARLE) or limited average remaining
life expectancy (Limited ARLE)) and whether the amortization payment calculated under your algorithm
can be less than that calculated using the FAS87 Default method.
e. Change Amortization Policy for Prior Service Cost bases.
i. Prior Service Cost choices include which amortization period to use, as for gains and losses, and how to
treat negative Prior Service Costs that are created when other, positive bases exist.
[Insert title
62
ii. Choices for applying negative bases include offsetting the oldest bases first (FIFO), allowing negative
bases to be created even when positive bases exist (NONE), offsetting the newest bases first (LIFO),
and applying negative bases pro-rata against all positive bases (Pro-rata).
f. Change Amortization Policy for Settlements
i. If the plan pays lump sums and settlement accounting is reflected when lump sum payments exceed
service cost plus interest cost, check the “Use Settlement Threshold” box.
g. Once the amortization policy has been described, Save.
h. To use the new method, an AMRT-PCY line must be added to a Valuation Scenario. To use the new policy,
select the new Amortization Policy Scenario from the Amortization Policy drop-down box under Event Details.
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Guide 4 – Granular Interest Cost Approach
For many years, it has been traditional accounting convention to use a single representative discount rate for measuring
benefit obligations and for calculating the periodic cost associated with those obligations that should be charged on the
sponsoring entity’s books.
The traditional approach involves calculating an aggregate single equivalent discount rate that would result in the same PBO
as determined under an individual cash flow approach. This single equivalent weighted-average discount rate used in the
calculation of the PBO for a plan is also used for purposes of measuring service and interest costs for the plan.
The granular interest cost approach involves applying the individual spot rates on the yield curve to:
1. The normal cost cash flows at each time period, the sum of which amounts to the service cost
2. The individual present values of the PBO and SC cash flows at each time period, the sum of which amounts to the
interest cost
This approach is potentially relevant in any country where a yield curve is used to develop the discount rate. Therefore, it is
generally relevant to countries for which RateCalc yield curves are prepared (US, Eurozone, UK, Japan and Canada).
A checkbox on the Client Report Parameters => Report Display sub tab for FAS Pension NPBC and FAS OPRB NPBC
Valuation Report Scenarios in Quantify FR supports the presentation of results under the granular approach.
The setting of this checkbox will automatically be carried forward to all subsequent disclosure and NPBC Valuation Report
Scenarios unless changed in an NPBC scenario.
The following provides guidance on incorporating the granular discount rate approach in FR result calculations:
1. For NPBC Valuation Report Scenarios
a. In your FAS Pension or OPRB NPBC Valuation Report Scenario, for each event, select a Liability Result that
includes Granular Interest Cost calculations. Ensure the Interest Sensitivity for the selected Liability Result is set
to “Base Interest Rate (Interest Rate Variation 1)”.
b. Go to the Client Report Parameters tab and check the Apply Granular Discount Rate checkbox.
c. Launch the Valuation Report Scenario.
Quantify FR will complete the calculations and produce a new Granular Interest Cost report which can be found under the
“Reports” tab of the NPBC Valuation Report Scenario:
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The following items included in the NPBC Internal Worksheets document the Granular Discount Rate method:
a. Equivalent Discount Rates in Section 1.4.
b. First year spot rate in Section 1.4.
c. Interest cost on (A)PBO determined under granular cost approach before offset for interest on expected first year
benefit payments in Section 1.4.H. and
d. Interest cost on normal cost determined under granular cost approach before offset for interest on expected first
year benefit payments in Section 1.4.I.
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4.1 Liabilities at Liability Valuation Date (Continued)
Fiscal Year 1-Jan-2014 1-Jan-2014 1-Jan-2014

Measurement Year 1-Jan-2014 1-Jan-2014 1-Jan-2014
Base Year Liability Valuation Date 1-Jan-2014 1-Jan-2014 1-Jan-2014
Liability Valuation Date 1-Jan-2014 1-Jan-2014 1-Jan-2014
Liability Result Type Original Original Original
Event Exper-Assump Assumption Assumption
E. Expected Plan Participant Contributions

1. At liability valuation date 0 0 0
2. At liability valuation date + 1 year 0 0 0
F. Expected Benefit Payments

1. At liability valuation date (12,713,536) (12,713,536) (12,713,536)
2. At liability valuation date + 1 year (1,629,937) (1,629,937) (1,629,937)
G. Amortization Service
1. Aggregate future working lifetime of active participants 52,429.57993 52,429.57993 52,429.57993
2. Number of active participants expected to receive benefits 2,966.00000 2,966.00000 2,966.00000
3. Average future working lifetime (1. / 2.) 17.67686 17.67686 17.67686
4. Average remaining life expectancy (ARLE) for plan participants 38.02596 38.02596 38.02596
5. Limited ARLE for plan participants 29.95249 29.95249 29.95249
H. Interest cost on PBO determined under granular cost approach

before offset for interest on expected first year benefit payments 12,772,646 20,277,091 27,842,596
I. Interest cost on normal cost determined under granular cost approach

before offset for interest on expected first year benefit payments 604,762 1,074,229 1,549,927
The Equivalent Discount Rates for (A)PBO, Service Cost and Interest Cost will be displayed in certain exhibits within the
client report.
2. For Disclosure Valuation Report Scenarios
a. In your FAS Pension or OPRB Disclosure Valuation Report Scenario, for each event, select a Liability Result that
includes Granular Interest Cost calculations. Ensure the Interest Sensitivity for the selected Liability Result is set
to “Base Interest Rate (Interest Rate Variation 1)”.
b. To support the reconciliation of expense and funded position in the following NPBC client report, select the
expected liabilities calculated using shifting spot rates in the new drop list below the event detail grid:
c. You should ensure that you use the same participant data, method and assumptions (aside from the shifting spot
rate yield curve) that were used in the prior NPBC valuation.
d. Launch the Valuation Report Scenario.
Note: The prior NPBC Valuation Report Scenario must use the Granular Discount Rate Approach.
The following items included in the Internal Worksheets document the Granular Discount Rate method:
a. Equivalent Discount Rates in Section 1.4. (the values displayed for Service Cost and Interest Cost are the values
calculated for the final event of the prior NPBC Valuation Report Scenario)
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1. Projected Benefit Obligation 0.000% 5.166% 5.068% 5.080%
2. Service Cost 0.000% 5.288% 5.288% 5.288%
3. Interest Cost 0.000%
Quantify Financial Reporting – Accounting
4.698% 4.698%
Workflow Guides 4.698%
C. Compensation Increase Rate 0.000% 1.500% 3.000% 2.250%
D. Expected Return on Assets 5.000% 5.000% 5.000% 5.000%
E. Pension Increases for In-Payment Benefits 0.000% 0.000% 0.000% 0.000%
1.4 Assumption Summary
F. Pension Increases for In-Deferment Benefits 0.000% 0.000% 0.000% 0.000%
G. Cash Balance Interest Credit Rate / Career Average Revaluation
Purpose: Summarize assumptions and parameters that impact calculations in later sections.
H. Social Insurance Increases 0.000% 0.000% 0.000%
I. Price Inflation 2.000% 2.000% 2.000%
Fiscal Year 31-Dec-2013 1-Jan-2014 31-Dec-2014 31-Dec-2014
J. Expected Administrative Expense Assumption
Measurement Year 31-Dec-2013 1-Jan-2014 31-Dec-2014 31-Dec-2014
1. Assumption type Add Amt to NC Add Amt to NC Add Amt to NC
Liability Valuation Date 1-Jan-2014 1-Jan-2014 31-Dec-2014 31-Dec-2014
2. Amount (if applicable) 350,000 350,000 350,000
Event Prior Disclosure Prior NPBC ExperAssump Assumption
3. Percentage of expected return on assets (if applicable) 0.000% 0.000% 0.000%
K. Weight Factors for Expected Amounts
A. Length of Fiscal Year 1.00000 1.00000 1.00000
1. Expected plan participant contributions
B. Equivalent Discount Rates
a. Liabilities 0.25000 0.25000 0.25000
1. Projected Benefit Obligation 0.000% 5.166% 5.068% 5.080%
b. Assets 0.00000 0.00000 0.00000
2. Service Cost 0.000% 5.288% 5.288% 5.288%
2. Expected benefit payments 0.50000 0.50000 0.50000
3. Interest Cost 0.000% 4.698% 4.698% 4.698%
3. Expected administrative expenses 0.00000 0.00000 0.00000
L. Expected Rate of Return for Next Year NPBC Estimate 5.000% 5.000%
M. Interest
b. FirstCalculation
year spot Methodology (Simple 1.4
rate in Section or Compound) Compound Compound
N. Accounting Amortization Period Defined for Plan AFWL AFWL
O. First year spot rate 0.731% 0.731%
The Equivalent Discount Rates for (A)PBO, Service Cost and Interest Cost will be displayed in certain exhibits within the
Client Report.
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Rolling of liabilities in Quantify under the granular approach

Quantify (using a combination of Liability and FR module elements) provides support for a customized methodology for
projecting (rolling forward) benefit obligations and costs under the granular approach. This approach is consistent with roll
forward guidance issued by leadership in December 2017: Roll-Forward Guidance.docx and was reviewed and approved by
leadership prior to implementation in Quantify.
Ensure your Quantify liability run is set up so the experience assumptions are the same as the valuation assumptions, and the
valuation interest rate is set to the yield curve appropriate for the measurement date using the “YC w/ Fixed Spot Rates” style
option:
Also confirm the Quantify liability run includes the appropriate number of projection years in which granular costs are
calculated, as specified on the Passes tab. As noted in the screen shot below, granular interest costs will automatically be
calculated for the initial valuation year and first projection year. Indicate additional years as needed.
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When adjustments are made, it will be necessary to be able to adjust the PBO and SC cash flows (rather than applying a
simple adjustment to the PBO and SC as may have been the case historically under non granular approaches). For example,
an event that changes PBO by 5% will affect IC differently if near-term and longer-term cash flows are affected differently. As
highlighted in the various scenarios in the memo from leadership, how to adjust cash flows will involve consideration of the
specific facts and circumstances and exercise of professional judgement.
The following components are available in Quantify to assist client teams in making these cash flow adjustments:
1. A projected valuation can be done in the Liabilities module to determine the PBO, SC and IC (and the underlying cash
flows) one year from the initial valuation date.
2. For clients using the granular approach where the valuation date for the liabilities selected in FR is before the
measurement date, FR will calculate the PBO, SC and IC (and the underlying cash flows) at the measurement date by
interpolation i.e. (1-f) x initial valuation date value + f x first projected valuation date value, where f = the fraction of the
year from the initial valuation date to the measurement date.
3. When actual experience is known to have varied from the actuarial assumptions, the following adjustments can be made
in the underlying liability run:
a. First year assumptions (such as salary increases or decrements) can be adjusted to reflect actual known
experience in the initial and projected valuation results (and hence would automatically be reflected in all future
cash flows at the measurement date)
b. Participants known to have taken lump sums and fully cashed out before the measurement date can be removed
from the participant data for the valuation run (and hence would automatically be removed from all future cash
flows at the measurement date).
c. Any participants who received lump sums in the year following the measurement date can also be removed, with
known cash–out amounts added back to the first year cash flow and PBO subsequently in FR (hence all future
69
year cashflows associated with these participants would be removed and replaced with a known first year total
cash-out in the final cash flows at the measurement date). Two liability result override fields allow for adjustments
to first year benefit obligation payments and the present value of first year benefit obligation payments for these
purposes. To enter known cash-out amounts after the measurement date into these fields, select the liability
result in FR, and enter the amounts in the fields indicated:
• After removing all cashed out participants, the first year cash-out assumption should be suppressed in the
Liability Run.
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IAS 19 & FRS 102 WORKFLOW GUIDES

Intended Audience
These workflow guides on FR have been written for WTW associates who will be doing, checking and reviewing net benefit
expense valuations and disclosures calculated in accordance with IAS 19 or FRS 102. This guide includes instructions for
initializations and preparing valuations for subsequent years.
Intended Use
Overview of Guides
Guide 1: Initializing FR for first-time Guide 2 - Performing Calculations using FR

use
This second guide is for ongoing use to produce
This guide has two sections, as the client results. The steps to produce IAS19 or FRS
process will change based on the results 102 expense and disclosures using FR are:
required for the client and plan
• An Asset Scenario must be produced,
Guide 1a: Initialization using IAS19 or containing basic asset reconciliation
FRS 102 disclosure results (or new information and assumptions as to expenses
client set-up) and future contributions to the plan.
• To generate an estimated net benefit expense
All initialization of FR for IAS19 or FRS
at the beginning of the year, a new NPBC
102 requires that the most recent
Scenario must be created. The prior Disclosure
disclosure information be used as the
Scenario (or Initialization Scenario if this is the
starting point. Information from the most
first year of using FR) must be identified, along
recent disclosure will have to be input
with the Asset Scenario. Additional information
manually within an FR initialization
regarding liabilities is required.
scenario.
• For disclosure purposes at the end of the year,
Guide 1b: Duplicating Net Benefit a new Disclosure Scenario must be created.
Expense at Initialization The prior NPBC Scenario must be identified,
along with the Asset Scenario. Additional
If a Net Benefit Expense has been information regarding liabilities is required.
determined since the prior disclosure, • FR requires that Disclosure and NPBC be
additional steps are needed to recreate done in two scenarios, even if the same assets
the Net Benefit Expense (NPBC) in FR. and liabilities are used for both. Only one Asset
Scenario is required if the assets are identical.
Alternatively, you can wait for the
upcoming disclosure to be performed to
initialize FR.
[Insert title
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Guide 1a – Initialization using IAS 19 or FRS 102 disclosure results
1. Plan your Work
b. Gather most recent IAS 19 or FRS 102 disclosure report that was delivered to the client. Note, FR can only be
initialized from a disclosure report. If a current year net benefit expense estimate has been done since the most
recent disclosure, you may:
i. Wait until after the next disclosure to initialize, or
ii. Initialize from the most recent disclosure and recreate the Net Benefit Expense (NPBC) (see Guide 1b).
a. Open Quantify project for the client and select Financial Reporting.
i. Click Add Item button at top
1. Click New
3. Enter scenario description (optional, but recommended)
4. Select Plan name
6. Select IAS 19 Rev 2011 Disclosure or FRS 102 Disclosure as the Purpose
7. Select Manual for Initialization Option and enter the fiscal year begin date for the disclosure you are
using for initialization
8. Click OK
iii. There are 10 tabs for IAS19 Rev 2011 and 10 tabs for FRS 102 shown on the initialization screen. The
last tab requires no input (except for Effect of Settlement on DBO, if applicable); it simply demonstrates
the reconciliation of the plan’s funded status once all of the data is entered. Input the data required in
each of the tabs:
1. Basic Info screen – select the relevant administrative expense policy.
2. Key Dates screen – review initialization year and year prior to initialization dates for correctness
3. Amort Policy screen includes information on how accumulated gains and losses are treated. For
IAS19 rev 2011, the default method is Immediate Recognition in OCI. Immediate Recognition in
P&L is the other available option. This tab does not appear for FRS 102, since the only option is
Immediate Recognition in OCI.
4. Asset Info screen collects historical asset information, including asset ceiling information.
5. Asset Scenario screen gathers reconciliation information regarding the Trust and Non-Trust assets
in the fiscal year that ends with the initialization disclosure. Note that certain additional data is also
entered here, such as the expected administrative expenses to be added to the following year’s
service cost. Employer contribution information entered should include future contributions which
are to be taken into account for determining the expected return on assets for the following year’s
estimated net benefit expense (NPBC). If this information is known, or if you will be running next
year’s estimated net benefit expense (NPBC) pursuant to Guide 1b, be sure to enter this
information here. If your Plan has been set up with Funded Type = Unfunded or Funded Type =
Funded/Other Reserves then both the Trust and Non-Trust Details tabs will be displayed. Refer to
the separate Client & Plan section in this guide for further details.
[Insert title
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6. Assumptions & Demog screen contains historical information, including participant information, so
that prior year data is available for the next NPBC report.
7. Benefit Oblig screen collects for historical DBO information, plus the service cost element of net
benefit expense from the year that ended with this disclosure.
8. Gain/Loss screen allows users to enter the gain/loss arising from various factors over the period.
9. NPBC screen allows for entry of the remaining net benefit expense (NPBC) components and
settlements, curtailments or other adjustments.
10. Reconciliation screen pulls together the data previously entered so that you can see if the plan is in
balance. If the funded status information does not match your disclosure report, go back to the
appropriate screen to correct the data entered.
b. Once data entry and review are complete, return to the Basic Info screen and Launch this scenario, then Publish
it by clicking on the Publish button after the scenario is launched.
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Guide 1b – Duplicating Net Benefit Expense at Initialization
This guide is used if an estimated Net Benefit Expense (NPBC) for the fiscal year following the most recent disclosure has
been calculated. Since FR only allows initializing after disclosure, the Net Benefit Expense (NPBC) previously calculated must
be reproduced in FR before using FR for the next disclosure. Use this guide after initialization (Guide 1a).
1. Asset scenario
a. A new NPBC Scenario requires that an Asset Scenario exist. The Asset Scenario entered in the Initialization
Scenario can be used, if the expected administrative expenses to be added to the following year’s service cost
are inputted and the employer contribution information includes future contributions which are taken into account
for determining the expected return on assets for the following year’s net benefit expense.
b. This guide assumes that the initialization Asset Scenario can be used.
c. If the initialization Asset Scenario cannot be used, see Guide 2 for how to set up a new Asset Scenario.
2. Liability Information
a. If another system was used for the beginning of year net benefit expense (NPBC) liabilities, you should use the
3. Create a new NPBC Scenario
b. Select Add Item and choose Valuation Report Scenario from drop-down box.
c. Select New and name the scenario.
d. Select the plan this scenario applies to from the drop-down box.
e. Select Standard for the Type and either IAS19 rev 2011 NPBC or FRS 102 NPBC for the Purpose.
f. Select the Initialization Scenario with the prior disclosure information and click OK.
4. Enter Expense Scenario data
a. The Asset Scenario from the Initialization scenario (see above step 1) is selected for you by default.
b. Under Valuation Changes:
i. First “Change Type” line can be either “Experience”, if no assumption changes were made, or
“Experience-Assumption”, if your liabilities also include an assumption change. Select the liability results
and other applicable information in the Change Event Details panel. Note that the user is able to change
the Selected Valuation Date for an event so that they can select a projected liability result from an older
liability run
[Insert title
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ii. Add additional “Change Types” for valuation changes (i.e. plan changes, special events etc.) if needed
by clicking on the ADD button and selecting the appropriate Change Type. For each change type, select
the appropriate liability results and other applicable information in the Change Event Details panel. The
user may also choose to enter custom descriptions for the events (up to 18 characters). These
descriptions will flow into the Internal Worksheet as the Event header descriptions for the events.
1. If the scenario is for an IAS 19 Rev 2011 valuation and it includes any assumption-type events, you
may choose to select an “Assumption Category” from the dropdown list provided. This field only
appears for assumption events and its purpose is to enable a breakdown of assumption gain/loss
into more granular level (into a predefined list based on FAStrack input). This optional breakdown is
provided by local client teams and flows into the Internal Worksheet and into FAStrack when
imported as part of a FAStrack set.
5. Launch NPBC Scenario
a. Once the scenario has launched, review the report in the Reports tab and determine if the net benefit expense
was correctly duplicated. If yes, you are done! If no, examine the elements of the net benefit expense and
determine what must be corrected.
b. Corrections can take place by correcting the NPBC scenario input, or by doing an Override (see step 6 below if
these trouble-shooting ideas do not work). To correct the NPBC scenario, you must Unlock it, then make
changes. Here are some trouble-shooting ideas:
i. If Service Cost and Interest Cost do not match, the problem is likely to be in the liabilities. Determine if
the funded status matches your prior NPBC calculations. Liabilities can be adjusted using the Quantify
Accounting Input Tool (see ‘Preparing Your Liabilities for Use in Quantify’).
ii. If you are attempting to match PAcT calculations, you may need to adjust the default weightings. In
particular, PAcT assumes a 0.0 weighting on plan participant contributions for service cost purposes, but
a 0.5 weighting for the calculation of Return on Assets. You can adjust the weightings in this scenario by
clicking the Overrides sub-tab and entering 0.5 in the ‘Expected Plan Participant Contributions – Assets’
weighting input
iii. If only Service Cost does not match, but Interest Cost does match, the problem can possibly be corrected
by adjusting the Administrative Expense policy.
iv. If you want to use compound interest instead of simple interest, you will need to make that selection on
the Overrides tab.
v. If return on assets does not match, you may be able to adjust expected contributions.
vi. If you were able to correct the NPBC scenario to duplicate the prior calculations, Launch the final
scenario and then publish it by clicking on the Publish button after the scenario is launched.
6. Override
a. If the NPBC scenario cannot be corrected to duplicate the prior calculation, you can manually override certain
calculated amounts in the NPBC scenario.
b. You will want to have a printout of an Internal Worksheet generated by the NPBC scenario, for reference.
c. Unlock the NPBC scenario by clicking the Unlock button.
d. Click Add in the Valuation Changes panel. Select Change Type Override.
e. Click on the Overrides tab, select the Results sub-tab and enter the required overrides. The amounts entered
impact the ‘Override’ event and any subsequently added events.
f. Please refer to the separate section in this guide headed ‘Overrides’ for more details, including the option to scale
results for client report purposes.
[Insert title
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Guide 2 – Using FR to perform IAS 19 or FRS 102 calculations for on-going reporting
This guide is used after FR has been initialized, to produce IAS 19 or FRS 102 expense and disclosure calculations and client
reports
1. Asset scenario for net benefit expense calculations
a. A new NPBC Scenario (used to create estimated net benefit expense at the beginning of the year) requires that
an Asset Scenario exist. The Asset Scenario used for disclosure at the end of the prior fiscal year can be used if
certain assumptions are also entered (i.e. Expected Employer Contributions and Administrative Expenses).
b. If the disclosure Asset Scenario cannot be used (for example, the Asset Scenario used at disclosure did not
contain your expected next year employer contributions or admin expense as these were not known at the time),
then create a new Asset Scenario for expense by copying the disclosure Asset Scenario and update the inputs as
needed.
a. If another system was used for the beginning of year net benefit expense (NPBC) liabilities, you should use the
b. In order for additional pay to be selected an as option in the Overrides section of the Valuation Report Scenario,
the additional pay value must be stored in one of the first ten user spare statistic fields in the liability results.
3. IAS 19 or FRS 102 Expense Calculations at the beginning of the year
a. Create a new NPBC Scenario

v. Select Standard for the Type and either IAS19 rev 2011 NPBC or FRS 102 NPBC for the Purpose.
vi. Select the prior disclosure scenario which was used for the prior year’s disclosure, or the Initialization
Scenario if this is the first year FR is used. Click OK.
b. The Asset Scenario from the prior disclosure is selected for you by default.
i. Certain items affecting the expense must be entered in the Asset Scenario used for expense. If these
were entered in the Asset Scenario for the disclosure, no new Asset Scenario is needed. The items are:
1. Employer contributions anticipated for the following fiscal year.
2. Expected administrative expenses must also be entered in the Asset Scenario (note that
this is used for the beginning of year estimate and is trued up at the end of the fiscal year
once actual administrative expenses for the year are known).
ii. If these were not known at disclosure, then create a new Asset Scenario for expense by copying the
disclosure Asset Scenario and update the inputs as needed.
iii. You may leave the Asset Scenario as the default selection (same as the disclosure scenario) if assets
have not changed and no changes in expected employer contributions or administrative expenses are
required.
c. Enter IAS 19 or FRS 102 Expense Scenario data
i. Select Asset Scenario as determined in the above step.
[Insert title
76

1. First “Change Type” line can be either “Experience”, if no assumption changes were made
(the most common situation), or “Experience-Assumption,” if the liabilities include an
assumption change. Select the liability results and other applicable information in the
Change Event Details panel.
2. Add additional “Change Types” for valuation changes (i.e. plan changes, special events
etc.) if needed by clicking on the ADD button and selecting the appropriate Change Type.
b. Curtailments can be run using the CURTAIL option. Liabilities associated with the
curtailment should be selected in the liabilities section.
c. Settlements can be run using the SETTLE option. Liabilities associated with the
settlement should be selected in the liabilities section. An Asset Scenario must
be created that includes a settlement amount.
d. Acquisition can be run using the ACQUIRE option. Liabilities associated with the
acquisition should be selected in the liabilities section. An Asset Scenario must
be created that includes the assets attributed by the acquisition.
e. Administrative expense change can be run using the ADMIN-EXPNS option.
Liabilities associated with the administrative expense change should be selected
in the liabilities section.
f. Manual overrides can be applied to certain calculated results using the
OVERRIDE option. When an OVERRIDE event type has been added, the
Overrides tab contains a Results sub-tab which enables you to override a variety
of results values for the scenario. Results override values impact the Override
event and any subsequently added events. Please refer to the separate section
in this guide headed ‘Overrides’ for more details on this functionality.
g. You may also choose to enter a custom description for the event (up to 18
characters). These descriptions will flow into the Internal Worksheet as the Event
header descriptions for the events. If the scenario is for an IAS 19 Rev 2011
valuation and it includes any assumption-type events, you may choose to select
an “Assumption Category” from the dropdown list provided. This field only
appears for assumption events and its purpose is to enable a breakdown of
assumption gain/loss into more granular level (into a predefined list based on
FAStrack input). This optional breakdown is provided by local client teams and
flows into the Internal Worksheet and into FAStrack when imported as part of a
FAStrack set.
3. Note that FR builds on the line types as they are entered. Thus, liabilities for a plan
change to be valued as an Amendment type must be run using the same assumptions
that were used in the line above. An Assumption change line must be used to change the
assumptions from the line above. For IAS19 rev 2011, assumption changes are
distinguished between “Assumption Financial” and “Assumption Demographic”.
4. If you select liability results with an effective date prior to the fiscal year begin date, FR will
roll the liabilities to the fiscal year begin date. In this case:
a. FR will calculate a default benefit payment based on the expected benefit
payments in the liability results and the period from the liability results valuation
date to the fiscal year begin date.
b. You can then override this benefit payment amount if you know the actual benefit
payments for this period.
c. There is a separate benefit payment field for each event that is entered based on
the liability result valuation date of the selected liabilities for that event.
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d. This procedure does not apply when the liability result valuation date is equal to
the fiscal year begin date.
iii. Click on the Overrides tab, parameters sub-tab to apply any changes to the default weighting factors or
to change the interest methodology to use compound instead of simple interest. For regional custom
client reporting, select the relevant spare statistic under Additional Pay, otherwise, the default setting is
“Set equal to total pay”.
iv. Click on the Additional Info tab and apply any required changes if your plan is subject to asset ceiling
restrictions or taxes on contributions. Furthermore, you can add fixed amounts to the liabilities if needed
(only available for IAS 19 (rev 2011)). See section “Applying Overrides” for more information.
d. Click on the Sensitivities tab and select liabilities if you are sending results to FAStrack (only IAS 19 (rev 2011)).
e. Click on the Client Report Parameters tab and review section "Customizing Your Client Report” to see how you
f. Launch NPBC Scenario.
g. Select the Reports tab. The Reports tab will show six choices: NPBC Internal Worksheets, Disclosure and
Expense Client Report, NPBC Only Client Report, Disclosure and Expense Cover Letter, Disclosure and Expense
Exhibits (Excel-based version), and NPBC Magic Square.
ii. The Client Reports can be printed and/or saved as either a Word document or a PDF file.
h. Once the report has been finalized, publish the NPBC Scenario by clicking on the Publish button in the Basic Info
tab.
4. Asset scenario for disclosure calculations
a. If necessary, calculate reconciled assets.

b. Enter asset information in Quantify.
ii. Select Add Item and choose Asset Scenario from drop-down menu.
1. Select New and name the new scenario. Complete the description if you feel this scenario
needs further explanation.
2. Select the plan this scenario applies to from the drop-down box.
3. Select the prior Asset Scenario which was used in the prior NPBC scenario. Note, a prior
scenario must be launched in order to be available in the drop-down box.
4. Select the Accounting purpose for this scenario and select Standard for the type. Click
OK.
c. Enter the reconciled asset information in the left-hand entry area of the Trust Details and Non-Trust Details tabs.
Note the following:
i. If your Plan has been set up as an unfunded plan or with Funded Type = Funded/Other Reserves then
both the Trust and Non-Trust Details tabs will be displayed. The Non-Trust tab is similar to the Trust tab.
The only difference is that the amount entered in the Benefit Payments field on the Non-Trust tab will not
be included in the calculation of the expected return on assets. Refer to the separate Client & Plan
section in this guide for further details.
ii. If the asset detail on hand does not include the full investment return breakdown between interest &
dividends, realized gain/losses and unrealized gains/losses, you may enter all investment return
information as “Interest & Dividends” in FR.
iii. Enter actual dates and amounts of employer contributions in the right-hand Details section which
appears when you click on “Employer Contributions”.
iv. For benefit payments and administrative expenses, you can enter one amount in the Details section to
the right. It is possible to enter more than one amount and multiple dates if, for example, a very large
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lump sum was paid that should have special treatment. By default, the period over which the payments
were made is set to the fiscal year. FR will use a weight factor for the mid-point of this range. If you know
the exact date on which certain payments were made, enter it in the Begin Date column and it will be
automatically carried to the End Date column.
v. For settlements and acquisitions, the date must be Measurement Year Begin for NPBC and
Measurement Year End for Disclosure. These dates cannot be edited by the user.
vi. You must enter the fair market value separately by the investment classes in the Details section.
vii. Once all information has been entered, be sure that your Asset Scenario does not contain an error
(“Market Value Error” should be zero).
d. Review planning documentation or prior year’s report to determine appropriate administrative expense policy.
Enter this information at the top of the Details section on the right. This information will be used later for the net
benefit expense (NPBC) calculations and should be entered now to avoid having to create a separate Asset
Scenario for NPBC.
5. IAS 19 or FRS 102 Disclosure Calculations
a. Create a new Disclosure Scenario

v. Select Standard for the Type and either IAS19 rev 2011 Disclosure or FRS 102 Disclosure for the
Purpose.
vi. Select the prior NPBC scenario which was used to create the estimated net benefit expense at the
beginning of the year. Click OK.
b. Enter Disclosure Scenario data
i. Select Asset Scenario created for disclosure.
1. If no changes in plan provisions or assumptions, including discount rate, are being made
at disclosure, and if the disclosure is being done from the same census data as was used
for expense, no additional liability results need to be run. The first “Change Type” should
be “Experience” in this case. Select the same liability results that were used in the last
event line of the prior NPBC scenario and, if necessary, enter the same actual benefit
payments.
2. First “Change Type” line can be either “Experience”, if no assumption changes were
made, or “Experience-Assumption”, if assumption changes were made and included in the
experience liability results. Select the liability results for this line.
3. Add additional “Change Types” for valuation changes (i.e. plan changes, special events
etc.) if needed by clicking on the ADD button and selecting the appropriate Change Type
b. Assumption Changes can be run using the ASSUMP option. Liabilities
associated with the assumption change should be selected in the liabilities
section. For IAS19 rev 2011, assumption changes are distinguished between
“Assumption Financial” and “Assumption Demographic”.
c. Curtailments can be run using the CURTAIL option. Liabilities associated with the
curtailment should be selected in the liabilities section.
d. Settlements can be run using the SETTLE option. Liabilities associated with the
settlement should be selected in the liabilities section. An Asset Scenario must
be created that includes a settlement amount.
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e. Acquisition can be run using the ACQUIRE option. Liabilities associated with the
acquisition should be selected in the liabilities section. An Asset Scenario must
be created that includes the assets attributed by the acquisition.
f. Manual overrides can be applied to certain calculated results using the
OVERRIDE option. When an OVERRIDE event type has been added, the
Overrides tab contains a Results sub-tab which enables you to override a variety
of result values for the scenario. Please refer to the separate section in this guide
headed ‘Overrides’ for more details on this functionality.
g. You may also choose to enter a custom description for the event (up to 18
characters). These descriptions will flow into the Internal Worksheet as the Event
header descriptions for the events. If the scenario is for an IAS 19 Rev 2011
valuation and it includes any assumption-type events, you may choose to select
an “Assumption Category” from the dropdown list provided. This field only
appears for assumption events and its purpose is to enable a breakdown of
assumption gain/loss into more granular level (into a predefined list based on
FAStrack input). This optional breakdown is provided by local client teams and
flows into the Internal Worksheet and into FAStrack when imported as part of a
FAStrack set.
4. Note that FR builds on the line types as they are entered. Thus, a plan change to be
valued as an Amendment type must be run using the same assumptions that were used in
the line above. An Assumption change line must be used to change the assumptions from
the line above.
5. If you select liability results with an effective date prior to the fiscal year end date, FR will
roll the liabilities to the fiscal year end date. In this case:
iii. FR will calculate a default benefit payment based on the expected benefit payments in the liability results
and the period from the liability results valuation date to the next fiscal year begin date.
iv. You can then override this benefit payment amount if you know the actual benefit payments for this
period.
v. There is a separate benefit payment field for each event that is entered based on the liability result
valuation date of the selected liabilities for that event.
vi. For disclosures where the liability result valuation date is prior to the fiscal year begin date, FR will roll
liabilities in this manner up to the fiscal year begin date and then use the actual benefit payments in the
Asset Scenario to roll the liabilities to the fiscal year end date. There is an override for the benefit
payments from the Asset Scenario for each event.
vii. For disclosures where the liability result valuation date is after the fiscal year begin date, FR will roll
liabilities in this manner up to the fiscal year end date.
viii. This procedure does not apply when the liability result valuation date is equal to the fiscal year end date.
c. On the Additional Info tab:
i. Enter a normal cost adjustment factor if desired. This is used to adjust the Normal Cost from the net
benefit expense estimated at the beginning of the year (NPBC scenario) for the difference between
expected and actual experience.
ii. Check the ‘Adjust estimated expense to reflect actual cash-flows’ box if you wish to adjust service cost,
interest cost, and return on assets components to reflect actual cash-flows during the year (rather than
those originally expected in the estimated net benefit expense calculated in the NPBC scenario at the
beginning of the year).
iii. IAS 19 and FRS 102 include a limitation as to the level of plan surplus that might be recognized as an
asset on the balance sheet. If asset ceiling restrictions are not applicable for your client, check the “Asset
Ceiling Restrictions do not Apply” checkbox. However, if your client is potentially subject to asset ceiling
restrictions, then uncheck this checkbox and manually enter the relevant value(s) in the ‘Economic Value
Available’ input row(s) in the Event Details Grid on the Basic Information tab.
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iv. If your plan is required to pay taxes on contributions, click the "Apply Taxes on Contributions" checkbox.
See the separate section later in this report, "Applying Taxes on Contributions", for more details on this
functionality.
v. Furthermore, you can add fixed amounts to the liabilities if needed (only available for IAS 19 (rev 2011)).
See section “Applying Overrides” for more information.
d. Click on the Overrides tab to select the additional pay to be used for regional custom client reporting. Under the
Additional Pay section, select the relevant spare statistic, otherwise, the default setting is “Set equal to total pay”.
e. Click on the Sensitivities tab and select liabilities if you are sending results to FAStrack (only IAS 19 (rev 2011))..
f. Click on the Client Report Parameters tab and review section "Customizing Your Client Report” to see how you
g. Launch Disclosure Scenario. Note, for IAS 19 (rev 2011) it is possible to launch both the disclosure scenario and
a one-stop NPBC scenario built from the disclosure scenario in one step. See the "One-Stop Accounting
Valuations" section of this user guide for details.
h. Select the Reports tab. The Reports tab will show five choices: Disclosure Internal Worksheet, Disclosure Client
Report, Disclosure Cover Letter, Disclosure Exhibits (Excel-based version) and Disclosure Magic Square.
ii. The Client Report can be printed and/or saved as either a Word document or a PDF file.
i. Once the report has been finalized, publish the Disclosure Scenario by clicking on the Publish button in the Basic
Info tab.
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Quantify Financial Reporting – Unfunded & Part Funded Plans
UNFUNDED AND PART FUNDED PLANS

Overview of support for accounting valuations
Quantify Financial Reporting includes functionality which allows users to customize elements of the user interface inputs,
calculations and client report content to reflect the funding arrangements for any particular plan.
To support this functionality, the "Funded Type" must first be specified in the plan attributes section on the Basic Info tab of the
Plan settings in Quantify. To view the existing setting, you can either open the relevant plan directly from the Client & Plans
module in the Navigation pane or alternatively you can click on the Plan link at the top of the screen from within any Valuation
Report Scenario or Asset Scenario in FR.
➢ Funded: This option should be selected if all benefit payments are always paid directly from plan assets invested in a
trust or similar entity
➢ Unfunded: This option should be selected if no plan assets exist and all benefit payments are always paid directly by
the Company
➢ Funded/Other Reserves: This option should be chosen if plan assets exist and are used for benefit payments but some
benefit payments are paid directly by the Company, in other words, paid partly via the trust and partly outside the trust
(“non-trust”)
Notes:
i. You must have Administrator level access for your Client (in the Users tab) in order to be able to edit or change this
Funded Type setting for any plan. See the Clients & Plans section of this guide for more details.
ii. Funded US OPRB plans should be set to "Funded/Other Reserves" so that Medicare Subsidy amounts can be
entered on the non-trust tab.
[Insert title
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Quantify Financial Reporting – Unfunded and Part Funded Plans
Unfunded plans
The following custom functionality applies in Quantify FR for unfunded plans:
Inputs
• Asset scenario: An additional non-trust details tabs will be displayed. This is the tab on which all transactions (e.g. benefit
payments, settlement payments) made directly by the Company should be entered. The trust tab is not expected to be
used for unfunded plans. The only reason a trust tab still appears in the Asset Scenario for unfunded plans is to support
legacy plans following old workflow before the non-trust tab was added to FR.
• Valuation report scenario (US GAAP): No expected rate of return % is required
Client Report Outputs
• Under the Purposes section of the US GAAP report, several paragraphs in the Limitations that would normally appear for
a funded plan (covering asset disclosures, expected contributions and sufficiency of plan assets) are automatically
deleted from the generated client report for unfunded plans. The corresponding paragraphs are also automatically deleted
in an IAS 19 report.
• In Section 2 of a US GAAP report, the "Development of Plan Assets for Benefit Cost" exhibit is automatically deleted from
the generated report for an unfunded plan
• Any expected or actual percentage return on asset values are displayed as "N/A" in the relevant exhibits throughout. The
expected return on plan assets is also always set to zero.
• If your client prefers, for display purposes, to include any payments made directly by the Company in the "Change in Plan
Assets" exhibit (as an employer contribution in and an offsetting benefit payment out), then you should ensure that the
"Include Benefits Paid from Other Reserves in Asset Reconciliation" checkbox is checked in the Plan level settings (in the
Plan screen, Client Report Parameters tab, Accounting sub-tab, General Text section)
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Part funded plans
The following custom functionality applies in Quantify FR for part funded plans (where Funded Type for the plan has been set
to "Funded/Other Reserves):
Inputs
• Asset scenario: An additional non-trust details tabs will be displayed. This is the tab on which all transactions (e.g. benefit
payments, settlement payments) made directly by the Company should be entered. All transactions relating to plan assets
should be entered on the Trust tab.
• Valuation report scenario: Additional rows appear to enable the user to specify the allocation of the total expected benefit
payments over the next year (which comes directly from the liability result) into amounts expected to be paid from plan
assets versus amounts expected to be paid directly by the Company. This split in expected benefit payments is needed
for the purposes of calculating the expect return on plan assets over the following year for use in determining the total
benefit cost. The following options will appear in the Events grid in an accounting NPBC scenario for part funded plans:
o Expected Benefit Payment Policy: This row appears for FAS Pension & IAS 19. It provides the user with a dropdown
option "Assume All Payments from Other Company Reserves" to specify that all expected benefit payments should
automatically be assumed to be payable directly from the Company. The default option "Specify Amount from Other
Company Reserves" allows users to manually enter the amount of benefit payments expected to be paid directly by
the Company in an additional field in the row below.
o Expected Benefit Payments from Other Company Reserves and/or Trusts: This is where the user is expected to enter
the amount of benefit payments expected to be paid directly by the Company for the purposes of determining the
expected return on plan assets. It defaults to 0. This row is not displayed if the user has selected the option "Assume
All Payments from Other Company Reserves" in the row above.
Client Report Outputs
• If your client prefers, for display purposes, to include any payments made directly by the Company in the "Change in Plan
Assets" exhibit (as an employer contribution in and an offsetting benefit payment out), then you should ensure that the
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"Include Benefits Paid from Other Reserves in Asset Reconciliation" checkbox is checked in the Plan level settings (in the
Plan screen, Client Report Parameters tab, Accounting sub-tab, General Text section)
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Quantify Financial Reporting – Bulk Processing
BULK PROCESSING
Overview
Many associates have clients where they need to produce accounting numbers for year-end financial reporting purposes for a
number of plans and/or on a number of different assumption bases or scenarios. The bulk processing functionality streamlines
many of the individual core steps needed to generate results. The features include:
Import multiple liability files in one process

Using bulk processing functionality, you can import multiple liability results in a single process. When importing a new liability
result to Quantify (Liabilities->Add Item->Liability Result), users will now see a ‘Bulk Liability Import’ button.
Clicking this button will open up a dialog box enabling you to browse and select all the liability result xml files that need to be
imported.
You can browse and select up to 100 liability result xml files to be imported. Be sure the Liability Result Name and Plan name
are completed for each Results File in the selection and then click the Import Results button.
More detailed guidance on using the bulk liability import feature is contained in the separate ‘Preparing Your Liabilities for Use
in Quantify’ section of this guide.
[Insert title
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Create multiple Asset Scenarios and input all transactions in one process
Note: Although designed primarily for the purposes of supporting client teams needing to generate multiple Asset Scenarios,
the bulk Asset Scenario functionality can provide an alternative simplified user interface even for clients where only one Asset
Scenario is required each year.
Bulk processing enables you to create multiple (up to 50) Asset Scenarios in a single process and input all transactions for all
plans into a single input grid (manually or copy/paste from Excel).
In the Financial Reporting view, there is a ‘Bulk Asset Scenario’ option available to do this (Financial Reporting -> Add Item->
Bulk Asset Scenario).
1. Click New to open the New Bulk Asset Scenario dialog box
2. Enter new Bulk Asset Scenario Name, Description (optional), Type, and select the appropriate Prior Scenario
(optional) using the dropdown box.
3. If this is the first year a Bulk Asset Scenario is being used for this client, leave the Prior Scenario as [None]. In future
years, you can select the locked prior Bulk Asset Scenario which was used in the prior year’s valuation. This will pre-
populate the “List of Prior Asset Scenarios”.
4. Click Ok.
5. A new bulk scenario object is created containing three tabs. The Basic Information is a standard tab displaying the
information you supplied in step 2.
6. Click on the List of Prior Asset Scenarios tab.
7. To create current year Asset Scenarios, you need to first select the corresponding prior Asset Scenarios which were
used in the prior year’s valuations. If this is the first year using this functionality for this client you will need to add prior
individual Asset Scenarios manually. You can do this by clicking the Add button and selecting the prior year Asset
[Insert title
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Scenario for each plan.
If this is not the first year using this functionality for this client and you had selected a prior year bulk Asset Scenario
when the scenario was first created (see step 3. above), then the List of Prior Asset Scenarios tab will already be
automatically populated for you. The ‘User Defined Column Order’ specifies the display order of the Prior Scenarios.
This then determines the order of the corresponding new current year Asset Scenarios listed on the ‘Scenario Details’
tab. Whenever a prior Asset Scenario is added to the List of Prior Asset Scenarios tab, the system automatically
creates a following current year Asset Scenario. Details for these newly created current year Asset Scenarios can
then be entered on the Scenario Details tab.
8. Click on the Scenario Details tab and you will see a number of columns. Each column corresponds to an underlying
current year Asset Scenario which has been created automatically by the system, based on the list of prior Asset
Scenarios provided by the user of the List of Prior Asset Scenarios tab.
9. The Scenario Details tab is where you enter information for each new Asset Scenario. Alternatively, you could open
any of the newly created individual Asset Scenarios (just double-click on the icon in the Status row) and edit using the
traditional Asset Scenario user interface (UI). The Scenario Details tab on a bulk Asset Scenario simply provides an
alternative (simplified) user interface to enable a user to view and enter asset transaction details for multiple plans. All
edits made to an individual Asset Scenario will be reflected in the corresponding column of the Bulk Asset Scenario
(and vice versa).
10. The primary difference between the Scenario Details tab of the Bulk Asset Scenario and an individual Asset Scenario
is in the number of displayed transactions for each transaction type. On the Scenario Details tab of the Bulk Asset
Scenario, all transaction types are limited to one transaction aside from employer contributions, which are limited to
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two. If additional transactions are required, they must be entered in the corresponding individual Asset Scenario. A
warning message will indicate if additional entries are in the individual Asset Scenario which aren’t displayed in the
Bulk Asset Scenario. The details of the warning message can be seen on the Basic Information tab.
11. The Bulk Asset Scenario Details tab contains five collapsible sections which need to be filled out as appropriate. In
the Basic Information section, the newly created current year Asset Scenario Name field will be populated by default
with “<Year> Year End Assets”. If an Asset Scenario already exists for a particular Plan with this name, then a
number will be appended to the Name in order to make it unique. You can edit the Name directly in the user interface.
The Non-Trust Details and Reimbursement Details sections will be cross-hatched and disabled for plans with Funded
Type = Funded or with no reimbursement rights respectively.
12. The ‘Export Grid to Excel’ button will expand all section of the Bulk object and create and Excel file that includes all of
the information as it is shown in the grid. This button is designed to help document the details of the Bulk Asset
Scenario for quality assurance purposes.
13. The Bulk Asset Scenario includes functionality to easily copy and paste data between the Scenario Details tab and an
Excel worksheet.
14. To paste asset transaction details or information from an Excel worksheet (e.g. supplied by the client), select and
copy the relevant information from your Excel worksheet.
Example 1: Pasting all trust transactions for all plans
15. In the Scenario Details tab, the paste functionality results in data being pasted down and to the right from the
selected cell. To paste the data into the relevant Asset Scenarios, right-click on the cell in the user interface where
you want the paste to commence and click ‘Paste Section’.
Example 2: Pasting only asset transaction details for the first plan
16. Read-only cells in the Quantify user interface will not be overwritten when pasting data from Excel to the Bulk
scenario. The ‘Paste Section’ functionality will also ignore blank cells from an Excel document.
17. To copy data from the Scenario Details tab to an Excel worksheet, right-click on the cell in the user interface where
you want the copy to commence and then select ‘Copy section’ or ‘Copy with headers’ (includes the field label
descriptions).
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Create multiple disclosure, NPBC or Re-Initialization scenarios in one process

This bulk processing functionality enables you to create up to 50 disclosure, NPBC or Re-Initialization Valuation Report
Scenarios for IAS 19, IAS 19 Rev 2011, FAS Pension or FRS 102 in a single process. Bulk Re-Initialization scenarios and Bulk
Interim scenarios may be created for IAS 19 Rev 2011 and FRS 102. Bulk processing functionality includes the ability to
launch, unlock or download all Internal Worksheets and reports for all plans within a single screen view and process.
In the Financial Reporting view, users will now see a ‘Bulk Valuation Report Scenario’ button (Financial Reporting -> Add Item-
> Bulk Valuation Report Scenario).
1. Click New to open the New Bulk Valuation Report Scenario dialog box
2. Enter the new Bulk Valuation Report Scenario Name and Description (optional)
3. Select a Type from the dropdown. Available types are Standard, Initialization and Interim.
4. Select a Purpose from the dropdown for the scenarios you want to create. The available options are: FAS Pension NPBC,
FAS Pension Disclosure, IAS 19 NPBC and IAS 19 Disclosure, FRS 102 NPBC, FRS 102 Disclosure, IAS 19 Rev 2011
NPBC and IAS 19 Rev 2011 Disclosure. Note the available Purposes are dependent on the Accounting Regulatory
Compliance selections made on the Basic Info tab of the Client.
5. If this is the first year a Bulk Valuation Report Scenario is being used for this client, leave the Prior Scenario as [None]. In
future years, you can select the locked prior Bulk Valuation Report Scenario which was used in the prior year’s valuation.
This will pre-populate the “List of Prior Valuation Report Scenarios”.
6. Click Ok.
7. A new bulk scenario object is created containing three tabs. The Basic Information is a standard tab displaying the
information you supplied in step 2.
[Insert title
90
8. Click on the List of Prior Valuation Report Scenarios tab. Note, if you created a bulk Re-Initialization, this tab will be
named “List of Source Valuation Report Scenarios.”
9. To create NPBC scenarios, you need to first select the corresponding prior disclosure scenarios. If this is the first year
using this functionality for this client you will need to add prior individual Valuation Report Scenarios manually. You can do
this by clicking the Add button and selecting the prior scenario for each plan.
If this is not the first year using this functionality for this client and you had selected a prior Bulk Valuation Report Scenario
when the scenario was first created (see step 4. above), then the List of Prior Valuation Report Scenarios tab will already
be automatically populated for you. The ‘User Defined Column Order’ specifies the display order of the Prior Scenarios.
This then determines the order of the corresponding following NPBC scenarios listed on the ‘Scenario Details’ tab.
Whenever a prior scenario is added to the List of Prior Valuation Report Scenarios tab, the system automatically creates a
following scenario. Details for these newly created current scenarios can then be entered on the Scenario Details tab.
10. Click on the Scenario Details tab and you will see a number of columns. Each column corresponds to an underlying
current NPBC Valuation Report Scenario created automatically by the system, based on the list of prior scenarios
provided by the user of the List of Prior Valuation Report Scenarios tab.
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11. The Scenario Details tab is where you can enter information for each new scenario. It is designed to streamline the data
entry process by including the most commonly used fields and workflow for a typical accounting valuation.
New FAS Pension, or IAS 19 NPBC Standard scenarios are automatically populated with the prior Asset Scenario and
liability results in the Experience event (Event 1), and the Rate of Return event (Event 2 – n/a for unfunded plans). New
IAS 19 Rev 2011 or FRS 102 NPBC scenarios are automatically populated with the prior Asset Scenario and liability
results in the Experience event, but do not populate any fields in Event 2.
New FAS Pension, FRS 102 or IAS 19 Disclosure Standard scenarios are automatically created with an Experience event
(Event 1) and an Assumption event (Event 2).
New IAS 19 Rev 2011 Disclosure Standard scenarios are automatically created with an Experience event (Event 1), an
Assumption-Demographic event (Event 2), an Assumption-Financial event (Event 3), and three additional events which
are made available for editing by using the ‘Add Event’ button. The Event type selections for Events 4 through 6 are
Assumption Demographic, Assumption Financial, Amendment, Curtailment and Settlement. The ‘Remove Event’ will
delete the last event for every column and can be used to remove all but the first event in every column. Please note that
bulk IAS 19 Rev 2011 Disclosure scenarios are the only bulk scenario type that will display 6 events on the scenario
details tab.
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All Bulk Disclosure scenarios have an Experience event for Event 1, but Experience-Assumption can also be selected in
the dropdown list.
12. For Bulk Re-Initializations, the Scenario details tab will not display all of the Initialization values included on each tab of
the traditional Initialization. The scenario details tab will only display the basic information for each IAS 19 Rev 2011 Re-
Initialization that is created and the Administrative Expense Policy. IAS 19 Rev 2011 Re-Initializations that are created
from IAS 19 source disclosures will automatically be populated with “Expense as incurred in IAS 19 cost.” IAS 19 Rev
2011 Re-Initializations that are created from IAS 19 Rev 2011 source disclosures will be automatically populated with the
same administrative expense policy as in the source disclosure.
13. Alternatively, you could open any of the newly created individual Valuation Report Scenarios (just double-click on the icon
in the Status row) and edit using the traditional individual Valuation Report Scenario user interface (UI). The Scenario
Details tab on a Bulk Valuation Report Scenario simply provides an alternative (simplified) user interface to enable a user
to view and enter Standard workflow details for multiple plans. All edits made to an individual Valuation Report Scenario
will be reflected in the corresponding column of the Bulk Valuation Report Scenario (and vice versa). Note, for bulk IAS 19
Rev 2011 Re-Initializations, you will need to open the individual Re-Initialization to make any changes besides the
administrative expense policy.
14. Double clicking the icon next to the prior scenario name also opens that VRS.
15. The primary difference between the Scenario Details tab of the Bulk Valuation Report Scenario and an individual
Valuation Report Scenario is that the Bulk Valuation Report Scenario only supports two standard events (as detailed in
step 11) that are expected to apply to all scenarios in the bulk object. Note that the Bulk Valuation Report Scenario for IAS
19 Rev 2011 disclosures supports three standard events – Experience, Assumption Demographic and Assumption
Financial and three additional events – Assumption Demographic, Assumption Financial, Amendment, Curtailment or
Settlement. If additional events are required for any individual Valuation Report Scenario (e.g. a Terminated Benefits,
Acquisition, Override or more than the number of events displayed), they must be entered in the corresponding individual
Valuation Report Scenario. A warning message will indicate if additional entries are included in the underlying individual
Valuation Report Scenario which are not displayed in the Bulk Valuation Report Scenario. The details of the warning
message can be seen by clicking on the ‘Errors’ button on the task bar.
16. The Scenario Details tab contains up to four collapsible sections which need to be filled out as appropriate. The newly
created current scenario Name field will be populated by default with “<Year> <Standard> <Type> e.g. “2011 IAS 19
Disclosure”. If a Valuation Report Scenario already exists for a particular Plan with this name, then a number will be
appended to the Name in order to make it unique. You can edit the Name directly in the user interface. The Basic
information section contains the asset and liability information section. Any additional overrides or client report parameter
changes required (e.g. select a Client Report Text to apply) should be entered in the Overrides and Client Report
Parameters sections respectively. Other sections, depending on the type of Bulk VRS, include Additional Info (for
adjustments to Normal Cost, estimated expenses and Asset ceiling info) and Sensitivities.
17. Any rows which are not applicable to a particular plan (e.g. reimbursement rights) will be cross-hatched and disabled that
event.
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18. If you update certain Event 1 fields for an individual column of the bulk scenario, you may notice that the changes are not
reflected in Event 2. In this case you will need to select the ‘Update Events’ button at the top of the Scenario Details tab.
This button will update all columns to sync with any changes that were made. This functionality is identical to the ‘Update’
button within an individual Valuation Report Scenario.
19. Once all the columns are filled in and valid, you can launch any or all of the scenarios from within the Bulk Scenario. Click
the ‘Select All’ button to check all columns (clicking ‘Deselect All’ deselects all columns). You may choose to launch
specific scenarios by checking the box at the top of each column. Click ‘Launch Selected’ to launch the selected VRSs.
This option will automatically lock all columns that are valid and selected to Launch.
20. When all individual scenarios are locked within a Bulk Scenario object, it is recommended that you lock the Bulk Scenario.
This should be done to retain the selections and in fact is necessary if the Bulk Scenario is to be used as a prior for a
subsequent Bulk Scenario. Only locked Bulk Scenarios may be used as the prior Bulk VRS. You may unlock a Bulk VRS
object at any time. Locking/unlocking of the Bulk VRS does not affect locking of the included individual VRSs.
21. Clicking the ‘Download Selected Reports’ button will download a zip file containing a Word file version of the client
report and PDF version of the Internal Worksheet for the scenarios (columns) that are selected and have been launched
and locked. For additional details regarding downloading, see the separate feature in this section titled ‘Downloading
multiple Internal Worksheets and client reports in one process’. Note, for bulk Re-Initialization, this option has been
removed.
22. A real time saver is the ‘Create Consolidated Report using Selected’ button. Clicking on this button creates a
Consolidated Client Report (CRS) with all selected VRSs from the Bulk object. Two conditions must be satisfied:
a. All selected VRS must be locked.
b. All selected VRSs must have the same FYE (if DSCL) or FYB (if NPBC)
23. The ‘Export Grid to Excel’ button will expand all sections of the Bulk object and create an Excel file that includes all of the
information as it is shown in the grid. The exported grid may be used for documentation and quality assurance purposes.
You should not attempt to use this grid when copying and pasting to the Scenario Details tab.
24. As per the corresponding Bulk Asset Scenario functionality, the Bulk Valuation Report Scenario also includes functionality
to easily copy and paste data between the Scenario Details tab and an Excel worksheet. See the separate feature in this
section titled ‘Create multiple Asset Scenarios and input all transactions in one process’ for more details on the copy/paste
functionality.
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Launching and unlocking multiple scenarios

You can select multiple Valuation Report Scenarios, right-click and launch or unlock all selected scenarios in a single action in
the Project view.
Only valid Valuation Report Scenarios (noted with blue checkmarks) can be launched. If an invalid or locked scenario is
selected, the Launch option will not be enabled in the dropdown. When you select multiple scenarios for unlocking, the system
unlocks each object during the cycle as soon as the relevant standard unlock validation conditions are met. If any of the
selected objects cannot be unlocked, then the system will provide a message box providing the relevant details.
When done from the project view the number of VRSs to be launched or unlocked is not limited. However, please note that
processing a large number of objects can sometimes cause an “Out of Memory” exception in Quantify. It is recommended in
such cases to work in the 64-bit mode. You can switch to this mode simply by pressing the Restart button and select “64-bit
Quantify”.
Bulk Edit and Launch

Note, the following functionality is available for IAS 19 rev2011, FAS pension and FRS 102 accounting purposes.
For objects created under one of the accounting standards listed above, the Unlock button is enabled even if its lock symbol is
golden, which means that the object is referenced by other FR objects. Pressing the Unlock button creates a new “Bulk Edit”
project which contains all objects which are dependent on this object.
The same can also be achieved by selecting a set of FR objects from the project view and right-click on them:
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From the new project (i.e. the Bulk Edit project) you can now unlock all selected scenarios, as described in the paragraph
above. Please note that hereby the system automatically unlocks all objects in the proper order, starting at the top of the chain.
After you have made your edits in the object (or objects, if you selected more than one) from which you have started the
Unlock process you can then mass-launch all objects in the Bulk Edit project. Please note that you can also include red-
flagged objects into this selection, if the only cause of the red flag is that the prior scenario of an object is not launched. The
system will then process all selected items and launch them in the right order, starting with the object (or objects) from which
the bulk unlock has been started.
Downloading Internal Worksheets and client reports

You can select multiple Valuation Report Scenarios directly from the Project view in a single action without having to open the
individual scenarios.
1. In the project view, select the Valuation Report Scenario(s) for which Internal Worksheets and client reports need to be
downloaded.
2. Right-click and choose Bulk Download
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3. This will open a ‘Enter Zip File Name’ dialog box
4. Enter the File name and Path and click Save.

5. The system puts all the Internal Worksheets (PDF files) and the client reports (Word 2007 documents) into a single zip-
file.
6. The zip-file will be downloaded to the appropriate folder.
Create multiple FAStrack Sets in one process

Bulk processing functionality can also be used to create multiple FAStrack Sets in a single process. What FAStrack Sets are,
how they are used, and how bulk processing supports the creation of FAStrack Sets can be read in full detail in the chapter
“EXPORTING QUANTIFY FR RESULTS TO FASTRACK”.
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Quantify Financial Reporting – Customizing your Client Report
CUSTOMIZING YOUR CLIENT REPORT

Overview
Quantify Financial Reporting includes functionality which allows users to customize much of the client report content directly
within the user interface of the FR tool. It allows you to rerun or create new accounting disclosure calculations and immediately
have a client ready or very close to client ready report. You can customize reports using one or a combination of two basic
methods:
1. Setting parameters in the Client Report Parameters (CRP) tab of your Valuation Report Scenario (VRS) or
Consolidated Report Scenario (CRS). These parameters will only affect that launch and include control of Appendix
A or B, identification of a Client Report Text object (CRT) with automation parameters, display of compensation,
rounding/scaling options and other options.
2. Defining parameters under the Plan. These parameters will affect all scenario launches for the plan unless the
parameters are changed in the VRS or CRS.
This functionality includes the following features:
1. Consultant signatures — You can select the associate names and client role in the basic Plan setup. These consultant
signatures will then automatically appear on any future client report generated in Quantify FR from a VRS for that Plan.
These Client Report Signature parameters are also available in a CRS.
2. Appendix A and B uploads: — You can upload Word files with the required customized summary of methods and
assumptions (Appendix A) or plan provisions (Appendix B). These customized appendices will then automatically appear
in a client report generated in a Quantify FR VRS or CRS, when selected on the Client Report Parameters tab.
3. Client Report Text (CRT) — You can customize the optional wording that appears in the Client Report. To do this, you
create a CRT object in FR. Within the user interface you can select various sections to edit by modifying the wording (e.g.
insert customized comments, select check boxes to choose not to display certain optional paragraphs or sections etc.).
You can use some or all of the available customizations. You can define a CRT for the client to be used by any plan or for
any particular plan. You then identify the appropriate CRT in the Client Report Parameters tab of the VRS or CRS.
4. Client Report Parameter (CRP) tab – You can take advantage of several report automation settings on the CRP tab of
the VRS or CRS. Some examples are described in this guide.
5. Client report template options – Different valuation types have different options:
i. US Funding under PPA: templates with language and content defined by Actuarial Leadership for all reports.
ii. Canadian funding: English template for all jurisdictions; Quebec plans also have an option for a French template.
These report templates are maintained by the Canadian Model Report Expert group.
iii. Accounting valuations under US GAAP and IAS 19 rev 2011: the default options are the Global templates with
language and content defined by the Global AccT in English, with North American Actuarial Leadership input for
US plan sponsors. There are regional IAS 19 rev 2011 report templates available for several countries in Latin
America, Western Europe and Asia. Some of these regions also have US GAAP reports. The regional templates
are maintained by designated report experts for each region.
iv. Accounting valuations under FRS 102: template with language and content defined by the Global AccT.
Use of this functionality is optional. If you choose not to use these features, the client report generated by Quantify FR will
require more manual editing. It is recommended that you upload the Appendix A and B that you typically use for each plan to
improve efficiency of report production.
These features are likely to be particularly useful in cases where:
(a) rerunning/making last minute changes to the underlying calculations is a common occurrence
or
(b) the general workflow process is that the text sections of the report are settled in advance of the final numbers
being run and the client team needs to be able to efficiently slot in the numbers into the final version of the report.
[Insert title
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Quantify Financial Reporting - Customizing Your Client Report
Many of the elements need only be set up once and then can be re-used or flow through automatically in following years e.g.
uploading the specific plan provisions, creating a CRT which specifies which sections of the report are needed for your client
etc.
Report Content and Style

The content and language in all client reports supported by RSG are defined by Actuarial Leadership and the Global
Accounting team. These client reports follow company branding requirements for use of WTW styles. Before making any style
changes to the report, consult the following materials:
WTW branding: https://wtwbrandcentral.com/site/index
WTW guide for MS Word documents: https://wtwonline.sharepoint.com/sites/Marketing-Comms/Shared

Documents/Willis_Towers_Watson_Templates_User_Guide_Word_2013.pdf
Please be aware that the reports supported within Quantify and most commonly used in the U.S. are formatted for 8.5 x 11
inch paper:
1. U.S. Funding reports under PPA

2. Combined U.S. Funding and accounting reports
3. Accounting reports under U.S. GAAP for pension and OPRB plans
Reports that are most commonly used outside of the U.S. are formatted for A4 paper:
1. Accounting reports under IAS 19

2. Accounting reports under FRS 102
The guide for MS Word documents contains instructions for changing the default paper size using macros in the standard
WTW templates.
Consultant signatures
You can select the Associate names and Client Role to appear on the client reports for that plan generated by Quantify FR.
Once you’ve set this up for your Plan, then all Valuation Report Scenarios subsequently launched for this Plan will display the
relevant signature names, client role and office name in the generated client report.
1. Click on the ‘Clients & Plans’ navigation button and select/open the required client
2. First, click the Users tab and ensure the relevant associates are included in the list of associates with access to this client.
If not, then they will need to be added to the client. Anyone with the Administrator role for the client (or office) will be able
to add the user. See the general user guide for help granting permissions to a client.
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3. Click on the Plans tab, then the Client Report Parameters sub-tab and either the “Funding,” “CA funding” or “Accounting”
sub-tab
4. Search for the Associate in the Associate Name drop-down. The list you see here includes all WTW associates who
appear on the Users tab of the client.
5. Then you can edit the Signature Name and Client Role.
6. These associates will then automatically appear as the default signatories in any future U.S. funding, Canadian funding or
accounting report generated by Quantify FR for this particular plan.
At the top of the screen, there is also a User Profile button provided for editing your personal default Signature Name and
Qualification Title.
Similar Consultant Signature sections can be found directly on the Client Report Parameters tab of Consolidated Report
Scenarios.
For Irish funding client reports, you will enter the signatories in the CRT.
Appendix A and B uploads

The client reports contain a placeholder page for Appendix A and Appendix B (summary of methods and assumptions, and
summary of plan provisions, respectively). Client teams are encouraged to review the most recent sample appendices that
reflect Actuarial Leadership’s recommended language for customizing and inserting into your client report
Once you have updated your prior year’s appendices as needed, you can upload the Word files for use in Quantify FR (see
“How to upload Word documents” section below). An uploaded Appendix B document can also be selected in the
“Funding”/“Accounting” Client Report Parameters subtab of the Plan Parameters. Such document can then be automatically
selected on the Client Report Parameters tab of any “Funding”/“Accounting” VRS for such plan.
These customized documents are then automatically inserted into the client report generated in a VRS or CRS when selected
on the scenario’s Client Report Parameters tab.
Following is an example where the Appendix B was selected under the plan, and the Appendix A was selected on the CRP tab
of an IAS 19 rev 2011 NPBC VRS:
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Note: Format issues may arise with uploaded documents, such as differences between the original Appendix A (or B)
document and how it appears in the client report generated by Quantify FR. This may affect font colors or format of bullet
points. Generally, such issues can be traced back to conflicts with Word styles. If the uploaded document has a style with the
same name but different settings than the standard WTW styles in the client report template used by Quantify FR, the settings
of the client report template will override the settings of the uploaded document. This is normal Word behavior.
To avoid such issues, use the Appendix A and B templates from the Model Valuation Reports Intranet page (see above) as a
starting point for creating the documents for uploading to Quantify FR.
Client Report Text (CRT)

The Client Report Text (CRT) functionality within Quantify FR allows associates to customize various sections and text of the
client report generated by FR. You can choose to modify various sections and paragraphs of the default client report by
modifying the wording (e.g. insert customized comments, replace the term “plan sponsor” with “the Hospital”, etc.) and you can
select check boxes to choose not to display certain optional paragraphs or sections etc. The CRT also removes associated
user guidance notes so the generated report requires less manual editing.
There are two main steps involved in the process:
1. Create a Client Report Text (CRT) object in Quantify FR to specify and store customized parameters and to input plan
specific text and comments. This then stores all the relevant customized report requirements in the system. A CRT object
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can therefore be re-used (or copied/updated) from one year to the next or, in the case of an accounting CRT, for different
accounting standards.
2. The second element is that the Client Report Parameters tab on any accounting or funding scenario contains an optional
dropdown box labeled ‘Client Report Text’. This is set to a default value of ‘None’ which means that the client report would
default to the standard wording and report sections. When you click the dropdown box, a list of all CRT objects for this
plan/client will appear. By selecting any of these CRTs, the resulting client report generated will reflect your selected
customizations. User guidance notes associated with your selections will be suppressed and user guidance notes
associated with the remaining parameters will not be suppressed.
Creating a new Client Report Text (CRT) object

1. Click on the Financial Reporting link under Project Items from within the client and project.
2. On the Financial Reporting menu bar, click Add Item.
3. Select Client Report Text from the drop down menu.
4. Select New at the top of the Select Client Report Text Screen.
5. Enter a Client Report Text Name and optionally, enter a brief description.
6. Select the Owner, either Client or Plan. If you specify a Plan as the Owner, then the CRT will be available for selection
only in Valuation Report Scenarios (VRS) for that Plan. If the Owner is the Client, then the CRT will be available to
Valuation Report Scenarios for all Plans of that Client, as well as Consolidated Report Scenarios (CRS). Client name will
appear to the right of the Owner selection.
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7. Select the Purpose. Available options are Accounting, Funding (for US plans only), CA Funding and Irish Funding.
8. If Plan was selected as the Owner, select the Plan that owns the CRT from the plan drop down.
9. Select OK.
Basic information tab of a Client Report Text object

This screen is primarily informational. You can modify the following information.
• Select the Notes drop-down to enter additional notes about this CRT. If a note is already attached, an uppercase "A"
symbol appears here; otherwise, a lower-case "a" symbol appears.
• Enter a new Description or modify the existing description.
• Parameter Report and Difference Report buttons:
o Clicking the Parameter Report button will open a new window displaying the full parameter report for the
current CRT.
o Clicking the Difference Report button will open a new window that allows you to select another CRT to
compare to the CRT you are currently working in. The compare process will look at the parameters defined for
each CRT.
Client Report Sections tab of a Client Report Text object

This screen is split into two sections, Client Report Sections and Client Report Sections Details.
• Select the report section to work on in the Client Report Sections list.
• Details regarding the selected section will appear in Client Report Sections Details.
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Client Report Section panel – Accounting
In this panel, you will find a list of all of the report elements that can be customized. Find the report elements that apply to the
accounting report that you are producing by filtering the appropriate column. For example, these are the elements applicable
to IAS 19 rev 2011 reports:
You can also filter to find report elements that are generally stable from year to year. Customizing these report elements
should save the most time in report production since setting up the CRT once will reduce manual edits to the generated report
in the future.
Make sure to check the Customize box for each report element you intend to use. This setting will serve two purposes:
• First, and most importantly, you will indicate that you want only the selected report elements customized. The
generated report will reflect only the customizations for the report elements that you have selected and suppress any
user guidance notes associated with those elements. All other report elements will use the default report template
language, along with any associated user guidance notes.
• Secondly, you can filter on the Customize checkbox values later to help find the report elements that were used.
Client Report Section details – Accounting
For each report element, you will find specific parameter settings that allow you to control what will be reflected in the
generated report. There are a few different kinds of parameters, a subset of which apply to each report element as needed. As
noted above, these instructions will be used only when the Customize box is checked for the report element. When the
Customize checkbox is checked, the following checkbox options or drop lists may appear depending on the report element
context :
• Display section – when this checkbox is checked, the report element will be included in the generated report.
• Default text option – this is a drop list of optional text to include in the generated report.
• Edit default text checkbox and edit box – these settings may appear with a drop list or not. In either case, checking
the box will enable the edit box and you can provide custom text to appear in the generated report.
• Date – you can enter the date of the engagement letter or, in the case of US qualified pension plans, the date of the
associated funding report to appear in the accounting report.
• Assumption rows – you can add rows of additional assumptions that need to appear in the report. For each row, enter
the label and the current and prior year values.
• Considerations – guidance to help you with each of the report elements.
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Example 1: Plan Sponsor Type

This example illustrates use of the Accounting CRT for the plan sponsor type. Check the Customize box for this report
element.
• Plan Sponsor Type - select the default text to use in the report from the drop down. Options include the Company, the
Bank, the Hospital and the University. The selected text will be used in the report document wherever there is a
general reference to the plan sponsor.
• Edit Default Text - checking this box allows you to enter alternate text that will be used in the same manner
throughout the report e.g. the Group, the Firm etc.
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Example 2: Assumptions Disclosure
This example illustrates use of the Accounting CRT for the Assumptions disclosure language options. Check the Customize
box for this report element.
• Default text option: Select the option from the drop list that is appropriate for the client. The language for that option
will appear in the box.
• Edit Default Text: Checking this box will enable you to make additional changes to the default language.
Client Report Section panel – US Funding
In this panel, you will find a list of all of the report elements that can be customized. Find the report elements that apply to the
various PPA reports that you are producing by filtering the appropriate column. For example, these are the elements
applicable to US PPA reports:
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You can also filter to find report elements that are generally stable from year to year. Customizing these report elements
should save the most time in report production since setting up the CRT once will reduce manual edits to the generated report
in the future.
Make sure to check the Customize box for each report element you intend to use. This setting will serve two purposes:
• First, and most importantly, you will indicate that you want only the selected report elements customized. The
generated report will reflect only the customizations for the report elements that you have selected and suppress any
user guidance notes associated with those elements. All other report elements will use the default report template
language, along with any associated user guidance notes.
• Secondly, you can filter on the Customize checkbox values later to help find the report elements that were used.
Client Report Section details – US Funding
For each report element, you will find specific parameter settings that allow you to control what will be reflected in the
generated report. There are a few different kinds of parameters, a subset of which apply to each report element as needed. As
noted above, these instructions will be used only when the Customize box is checked for the report element. When the
Customize checkbox is checked, the following checkbox options or drop lists may appear depending on the report element
context :
• Display section – when this checkbox is checked, the report element will be included in the generated report.
• Default text option – this is a drop list of optional text to include in the generated report.
• Edit default text checkbox and edit box – these settings may appear with a drop list or not. In either case, checking
the box will enable the edit box and you can provide custom text to appear in the generated report.
• Considerations – guidance to help you with each of the report elements.
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Customizing the number of decimal places on percentages appearing in client reports

You have the option of choosing how many decimal places you wish to see displayed on percentage values (primarily
assumptions) in your client report.
This feature is accessed by clicking on the Client Report Parameters tab on any accounting scenario and selecting the
relevant option from the ‘Percentage Values Decimal Digits Displayed’ dropdown.
The default value is based on the value chosen in the previous scenario. Once this value has been changed for a particular
plan (e.g. to show 2 decimal places), this selection will carry therefore automatically forward to subsequent scenarios.
Regional accounting report templates

You have the option of generating IAS 19 rev 2011 and FAS pension reports using templates designed for other regions using
languages applicable to those regions. Go to the Client Report Parameters tab and choose the relevant template from the
Report Template and Cover Letter Template dropdown. Note that certain regional report templates are indicated as bilingual
and present valuation results in the local language as well as in English.
The default value is based on the template chosen in the previous scenario.
The availability of the report automation functionality described in this guide will only apply to the regional template if the
associated regional report expert team has incorporated it.
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How to upload Word documents

You can upload Word documents (DOCX format only) to replace certain sections of the Client Report.
To upload documents:
1. Click on the ‘Clients & Plans’ navigation button and select/open the required client.
2. Click the Reports Documents tab.
3. Select New to upload a document.
4. Type the name of the document; i.e., the assigned name you want to appear on the user interface.
5. Specify the Owner. If you select a Plan as the Owner, then you will be able to use this document only for the specified
Plan. Otherwise, the document will be available to be used for any Plan within the Client.
6. You will also be required to specify a Purpose. Purpose “General” is only for Summary of Principal Plan Provisions.
Otherwise, you will specify Accounting (the Funding option is relevant for US plans only).
7. Finally, you will be required to specify the Report Section for which the document is intended. If Purpose is General,
then only the Summary of Principal Plan Provisions is available as a dropdown selection. If Purpose is Accounting,
then only the Appendix A – Statement of actuarial assumptions and methods is available as a dropdown selection.
For Report Documents that already exist on the Reports tab, you can view the Report Document in the panel below. You can
also “Export to Word” or “Save to File Location (TCT Online)” and make edits to it. Then you would need to re-upload it either
as a new Report Document or by clicking Replace to replace an existing unlocked Report Document.
Guidelines for preparing Report Documents
1. Create a Report Document by first generating a Client Report from Quantify and then saving the downloaded Word
DOCX file. Make your edits to this downloaded file, making sure not to change any formatting.
2. The title of the section e.g. Appendix B should not be contained in the document to be uploaded. The system will
automatically append the relevant section title when the file is merged into the Client Report (based on the Purpose
you specified when uploading). For example, if you are uploading a file to replace the standard Appendix B -
Summary of principal plan provisions, the first line in the document should be ‘Summary of principal plan provisions. If
the first paragraph contains the section title e.g. Appendix B, that section title will be displayed twice in the Client
Report.
3. The document must be oriented to print in portrait format rather than landscape.
Apply Rounding and Scaling Factors

The standard approach in Quantify FR is for all calculated numbers to be rounded to the nearest integer. These values are
then saved to the database and appear in the Internal Worksheets and client reports.
The Client Report Parameters tab on any accounting scenario includes options for you to round and scale the calculated
accounting results e.g. your client always wants the numbers in the final client report to be displayed in millions with one
decimal place.
For each accounting type available in FR, the Client Report Parameters tab includes a section called “Rounding and Scaling.”
This tab is available in Standard NPBC, Standard Disclosure, and Interim Disclosure Valuation Report Scenarios and contains
the following:
Rounding Factor: You can choose to round your calculations to the nearest Tens, Hundreds, Thousands, etc., up to the
nearest Millions. When you make a selection for “Rounding Factor”, all the inputs from Liability Results and User Inputs, as
well as the calculated and stored results, will be rounded. Note that even the prior year numbers will be rounded, so that the
displays in your Client Report will be consistent between Prior Year and Current Year.
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Client Report Presentation –Scaling Options: You will be allowed to make scaling selections so that the numbers in your
Client Report will be presented with scaling to either Thousands, Ten Thousands (for FAS Pension and IAS 19 rev 2011) or
Millions, with 0, 1, 2 or 3 decimal places. You can select the desired scaling displays using the “Scaling Factor” and “Scaling
Factor Decimal Digit Displayed” drop-downs.
The values in the Client Report will be displayed according to the Scaling; but the values in the Internal Worksheets will always
display full digits.
Note that you will need to make selections for rounding and scaling that are consistent with each other. For example, if you
want $3,450,000 to be displayed as $3.45 million in the client report, then you should select “Ten Thousands” as the Rounding
Factor (to ensure all calculated values in the database are rounded to the nearest ten thousand) and select Scaling Factor of
“Millions” and “2” for the Decimal Digits.
The options selected will then automatically be carried forward from year to year and become the default selections for all
subsequent scenarios for this plan.
Participant Data Display

The client reports present summary statistics in the report body and more detailed statistics in Section 3. The following
controls are available to modify the display of participant data information. Except as noted, all of these controls can be found
on the Client Report Parameters tab, participant data display subtab. Refer to the online “How To” topic “Participant Data
Display” for more details.
• Include or exclude Section 3 in the accounting client report. This is not an option for U.S. Funding reports.
• Controls related to active participants
- Include or exclude compensation in total
- Include or exclude the accrued/accumulated benefit
- Control the label for benefits based on the plan’s primary plan formula
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- Include or exclude compensation for active participants in the age/service scatter chart
- Include or exclude active participants on leave/lay-off, disabled, transferred
- Include additional data statistics. The amounts and labels are defined in the liability run as user spare
statistics, which you select here.
• Include or exclude the inactive participant categories and additional data statistics for the deferred and receiving
benefits categories.
• The data reconciliation exhibit can be suppressed using a Client Report Text object for U.S. Funding or Accounting
reports.
• The data reconciliation will be populated by default for PPA and US GAAP NPBC client reports.
All participant data statistics in the client reports are taken from the liability results with the exception of the data reconciliation
change amounts; in other words, the number of participants who changed from one status to another. The data reconciliation
changes amounts are taken from the data step. There are legitimate reasons why there may be differences between the data
step and liability result counts and these are listed in the online help.
Refer to Guide 3 – Scatter Charts for Active Participants in the US Pension Funding section for general information on the
age/service scatter charts. The focus of that guide is for US funding government forms, but it includes guidance that is useful
for accounting client reports as well.
You control whether to use the data step from the selected liability results or an alternative data step on the Client Report
Parameters tab.
Additional Data Statistics

Additional data statistics can be shown in the Client Report for participants that are active, deferred or receiving benefits. Up to
five data statistics that are defined as user spare statistics in the liability run can be selected for each category. The 5
additional data statistics are available in FAS Pension, FAS OPRB and IAS 19 rev 2011 VRSs.
If you are already defining user spare statistics in the liability run, then you only need to confirm that the label defined in the
Report Options tab of your liability run is how you’d like it to appear in the client report. If you are not defining user spare
statistics, then first define the statistics in your liability run. If you want both a total and the associated average to appear in the
client report, then you need to define each in a user spare statistic and select both in FR.
When summarizing inactive information, review your data for deferred retirees, beneficiaries and disableds. The Contribution
and Statistic LOG information is currently not displayed by in payment or deferred, therefore this information is not available to
FR. The data statistics for retirees, beneficiaries and disableds will be included in the participant receiving benefits user
statistics on the assumption that most are in payment. For example, deferred disableds, deferred beneficiaries and deferred
retirees will display in the participant receiving benefits category. If you do have deferred disableds, beneficiaries or retirees
you would need to manually adjust the FR report. In your liability run, code two user statistics for each item you wish to
summarize, one for in payment and one for deferred. You will then have the LOG report as a reference to adjust the FR report.
Note that the standard inactive summary information shown (counts, average age, etc.) for any inactive deferred participants
continue to be displayed in the participants with deferred section of the client report.
When selecting data statistics, consistent selection should be made between NPBC and disclosure and following year reports.
The labels will always be shown for the most recent VRS, however, if you select a different data statistic than a prior year the
values may not represent what is indicated in the label for the prior year.
When combining VRS into a CRS report, the labels and the indicator of whether the data statistic is a total or an average are
based on the first VRS. The total will be calculated when the data statistic is indicated as a total, “N/A” will be displayed if the
data statistic is indicated as an average. When a data statistic is selected for the first VRS and not subsequent VRS, zeroes
will be displayed for the subsequent VRS. When a data statistic is not selected for the first VRS, a row will not be displayed for
that data statistic.
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Quantify Financial Reporting – Disclosure Exhibits and Cover Letter
DISCLOSURE EXHIBITS AND COVER LETTER

Overview
Quantify Financial Reporting includes functionality which produces Excel-based accounting exhibits in tandem with a
corresponding cover letter. This is an optional output intended to support client teams that have been using FAStrack-style
exhibits in Excel. The exhibits, in combination with the cover letter and appendices A (statement of actuarial assumptions and
methods) and B (summary of principal plan provisions), constitute a WTW client deliverable approved by Actuarial Leadership,
however the Excel exhibits alone are insufficient as indicated by the note in the exhibit header “The information contained in
this exhibit is incomplete without the supporting letter.”
Excel-based accounting exhibits

An Excel-based output is generated automatically by the system for all US GAAP & IAS rev valuations. The exhibits are
formatted with layout and presentation mirroring the exhibits in Section 2 of the main client report and include a standard
disclaimer footer. Only current year results will be displayed of all key disclosure results (and following year benefit cost for
one-stop clients). The Excel exhibits do not have all of the customized formatting that is available in Word.
No prior year results are displayed nor any user guidance notes. To get the prior results in Excel, copy and launch the prior
valuation and then paste the desired prior results into the current result Excel file.
Cover Letter
A Word-based cover letter is generated on all US GAAP & IAS rev valuation launches. The cover letter is generated in English
only.
For US GAAP, the content mirrors the wording from the following sections of the client report:
• Purpose of Valuation
• Comments on Results
• Basis for Valuation
• Actuarial Certification
For IAS 19 rev 2011, the content mirrors the wording from the following sections of the client report:
• Purpose and Actuarial Statement (the initial paragraphs related to purpose)

• Comments on Results
• Purpose and Actuarial Statement (the remainder of the section which relates to the actuarial statement and
certifications)
Additional details on the Excel-based accounting exhibits

Client teams are able to export this exhibit to Excel for use where required as part of the client deliverables for the year-end
financial reporting process.
When generated from a NPBC launch, the exhibit also includes additional rows for the following year benefit cost for one-stop
clients. This is the only difference between an exhibit generated from a disclosure scenario and an NPBC scenario.
When generated from a Consolidated Report Scenario, the exhibit has a column of results for each plan and an additional total
column appearing as the 1st column. This is the only differences between an exhibit generated from a single plan scenario
and a consolidated scenario. This exhibit replaces the Excel based Appendix C outputs that are currently generated from a
Consolidated Report Scenario.
The numbers and date formats in the Excel-based exhibit are based on the system default formats and will not reflect the
additional richer display format options available in the corresponding Word-based main client report exhibits. When
downloaded and viewed locally, the displayed formats will vary depending on the regional date and number format settings on
the local user's computer settings. Client teams will be able to apply any required local custom formatting after exporting the
[Insert title
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Quantify Financial Reporting - Disclosure Exhibits and Cover Letter
exhibits from Quantify FR. Similar display format restrictions exist in the Excel-based Appendix C output currently generated
from a Consolidated Report Scenario.
Additional details on the Cover Letter

The generated cover letter from Quantify is a mirror image of the corresponding sections of the generated client report e.g. a
cover letter generated from an NPBC scenario for a one-stop client contains additional paragraphs that will not appear in a
cover letter generated from a disclosure scenario (similar to the additional paragraphs and wording that appears in a one-stop
client report versus a disclosure only client report).
Any future updates that are made to the relevant sections of the underlying global accounting report templates (maintained by
Actuarial Leadership and the Global Accounting Team) will be automatically reflected in the cover letter.
All custom reporting options, including use of a Client Report Text (“CRT”) object, that are available in the corresponding client
report content are also available for use in an identical manner for the cover letter.
Any country specific wording (or wording that only appears on client teams subject to US ASOPs) in the corresponding
sections of the client report also applies to the cover letter.
The cover letter includes the same references to Appendix A and Appendix B that appear in the corresponding client report
paragraphs. Please ensure that you include Appendices A and B in the package for the client.
The cover letter uses the standard WTW letter template supported by Marketing. The default page size will be Letter for US
GAAP and A4 for IAS 19 rev 2011 (similar to the default in the corresponding client reports). Client teams are able to use the
standard "Toggle Page Size A4/Letter" function within the WTW Document utilities and other standard WTW functionality
available after exporting the cover letter from Quantify.
Regional Cover Letter Templates can be used and are maintained by designated report experts for each region.
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Quantify Financial Reporting – Applying Overrides
APPLYING OVERRIDES
Feature overview
Quantify Financial Reporting includes a range of override functionality for all standard and interim Valuation Report Scenarios.
The override functionality is designed to meet a number of key objectives:
• Allow the user to override (either directly or indirectly) all values that show in client reports.
• Make it clear to checkers and reviewers on the Internal Worksheets that overrides have been used and which fields
have been overridden.
• Make the results of user overrides flow through to the next valuation scenario and don't lose any historical values.
• Make sure that all calculations based on user overrides are internally consistent, so all totals and reconciliations
continue to balance.
• Overrides must change key intermediate values that will be used to calculate “final” values. The override feature does
not support overriding "final" values directly e.g. a user can override the service cost, interest cost or return on assets
components of expense, but cannot override the total expense directly.
You have several options for overriding system-generated numbers in FR.
• Adjusting weighting factors for expected cash-flows

• Options for dealing with interest on service cost and expected administrative expenses
• Overriding certain calculated results
• Overriding the liability amounts to be used in the accounting calculations
The flowing sections provide further details on each of these various options.
Overriding weighting factors for expected cash-flows

Quantify FR applies the following default weighting factors in any NPBC calculation.
• Expected benefit payments of 0.5 (middle of the year)

• Expected admin expenses: 0.0 (end of year)
• Expected plan participant contributions: 0.0 (end of year)
You can override these default weighting factors by entering any value between 0.0 and 1.0 in the relevant input boxes on the
Assumption Summary – Weighting Factors section of the Overrides tab, which appears on every Standard Accounting NPBC
Valuation Report Scenario.
If these overrides are left blank, then the default values that currently exist in Quantify will be maintained. If you enter a
weighting factor, a bold label displays in the Assumption Summary section of the Internal Worksheet, to indicate that the
weight factor has been overridden. You specify one set of weighting factors, which apply to all events.
Any override values you enter in this tab are automatically carried forward from year to year whenever you create subsequent
Disclosure or NPBC scenarios.
[Insert title
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Quantify Financial Reporting - Applying Overrides
Interest on service cost & deducting administrative expenses from EROA

The default approach in Quantify FR is to (a) include interest on service cost and (b) deduct expected administrative expenses
within the calculation of Service Cost.
For FAS and IAS 19 (pre-Rev 2011) accounting types in FR, the Overrides tab of a Standard NPBC scenario includes a
section called “Service Cost and Administrative Expense Methods”. In IAS 19 Rev 2011 and FRS 102 NPBC scenarios only,
this section is titled “Service Cost and Interest Cost Adjustments.” This section contains option boxes for user to select
alternative policies to apply for either of these elements for any particular plan.
For FAS and IAS 19 (pre-Rev 2011) “Interest on the Service Cost will be included in the Interest Cost:” Check this box if you
wish to have the Interest Cost component of your Expense to include the interest on Service Cost. When this box is
unchecked, the interest on Service Cost will be included with the Service Cost. For IAS 19 Rev 2011 and FRS 102 NPBC
scenarios, this section instead contains a dropdown box with options to include interest on the Service Cost in Service Cost,
Interest Cost, or Split between Service Cost and Interest Cost.
“Assumed Administrative Expenses will be subtracted from the Expected Return on Assets:” Check this box if you wish to
have your EROA reduced by the amount of the Expected Administrative Expenses. When this box is unchecked, the Expected
Administrative Expenses will be included in the Service Cost.
The options you select will then automatically be carried forward from year to year and become the default selections for all
subsequent scenarios for this plan.
Expected Employee and Employer Contributions

The default approach in Quantify FR for all plans except for Swiss plans is to (a) use non-decremented expected employee
contributions and (b) use expected employer contributions amounts as entered in the corresponding Asset Scenario. When
creating an NPBC scenario for FAS Pension or IAS 19 Rev 2011 accounting types in FR using a Disclosure Init scenario for
plans with Legislative Country = Switzerland, the Expected Employee and Employer Contributions defaults are “Decremented”
and “Liability Result”.
For FAS Pension and IAS 19 Rev 2011 accounting types in FR, the Overrides tab of an NPBC scenario includes a section
called “Expected Employee and Employer Contributions”. This section contains option boxes for user to select alternative
policies to apply for either of these elements.
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Select “Decremented” if you wish to use the decremented value fields in liability results for employee contributions in place of
the corresponding, default existing non-decremented (“Non-Decremented”) amounts.
Select “Liability Result” if you wish to specify that employer contributions come from the final liability result instead of from the
default corresponding Asset Scenario (“Asset Scenario”).
Adjust Liability Results

The system can perform certain adjustments to the calculated results that appear in the Internal Worksheet of FAS Pension
and IAS 19 Rev 2011 accounting types in FR:
• Adjust PBO or DBO so that there is no experience liability gain/loss

• Adjust for actual versus expected plan participant contributions in roll-forward calculations
• Adjust for actual versus expected administration costs in roll-forward calculations (only for FAS Pension valuations
using non-Granular liability results)
The Overrides tab of an NPBC or Disclosure scenario includes a section called “Liability Adjustments”. This section contains
checkboxes to perform adjustments to the calculations. Note that the 3rd checkbox shown below appears only in FAS Pension
scenarios.
The existing DBO / PBO / ABO calculations in Section 4.2 of the Internal Worksheets include additional adjustments when
these checkboxes are selected.
In particular when the zero gain / loss option is selected, the following will automatically occur:
• Disclosure: The DBO/PBO for the 1st event will be automatically set equal to the expected DBO/PBO as
calculated in the gain/ loss calculations in Section 6
• NPBC: The DBO/PBO for the 1st event will be automatically set to the DBO/PBO from the final event in the prior
disclosure.
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All other calculations will remain unchanged.
The settings in these checkboxes will be carried into a Disclosure Scenario based on the checkbox settings in the prior
Disclosure Scenario. When a new NPBC Scenario is created, the checkboxes will be unchecked unless it is created by a One
Stop Launch. In that case, the settings in the NPBC will match those in the Disclosure that was used for the One Stop Launch.
Override Calculated Accounting Results

You can override certain calculated accounting values that appear in the Internal Worksheet and client report.
Normally, you would launch a Valuation Report Scenario, review the Internal Worksheet, and then determine which calculated
results will need to be overridden. You would then unlock the Valuation Report Scenario and add an “Override” event in the
Valuation Changes input panel.
When an OVERRIDE event type has been added, the Overrides tab has at least two sub-tabs, Parameters and “Results –
Event #” where # corresponds to the event number of the Override event.
Multiple Override events may be added to a scenario, but consecutive Override events are not allowed. For each Override
event added to the scenario, another “Results – Event #” sub-tab is added.
The “Results – Event #” sub-tab enables you to override a variety of calculated results for the scenario. Only a subset of
results is available to be overridden. You would input the desired override amounts on the “Results – Event #” sub-tab. The
results available for override will depend on the Accounting type of Valuation Report Scenario i.e. FAS vs. IAS vs. FRS,
Disclosure vs. NPBC etc.
Note that in the Internal Worksheet, a bold label displays in the calculation section where your override amount first appears.
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Guidance on using the Override Event for settlements / curtailments etc.

You should not use the Override event to introduce special events. Special events are handled by adding an event of type
Curtailment, Settlement, Special Termination Benefit, or Acquisition. Then, after you view the calculated results in the Internal
Worksheet, if further changes are needed, you would add an Override event to make final adjustments to the calculated
results.
Overriding FR Accounting Liability Results

After FR rolls the liability values to the appropriate fiscal begin date (for NPBC) or fiscal year end date (for disclosure, Quantify
FR also provides you with the ability to override various calculated Liability results that appear in the Internal Worksheet (most
fields appear in section 4.2).
You would generally only use this functionality
• If you are using liability results other than at the appropriate fiscal date and you wish to roll liabilities forward in a
different method to the default method used in Quantify FR.
• As a more efficient method of making minor liability adjustment without having to adjust and re-import your underlying
liability result.
Adding Fixed Amounts to Accounting Liabilities

Liability and benefit payment results for IAS 19 Rev 2011 and FAS Pension disclosure and NPBC scenarios can be adjusted
by adding up to two fixed amounts for all events. The same amount is applied to the main and sensitivity liabilities to all events.
This is not available when the granular approach is used.
You would generally use this functionality only when you don’t have the participant data with which to calculate the fixed
adjustment directly in the liability calculation. This adjustment is not appropriate when the adjustment needs to vary for each
event or sensitivity liability.
Some examples where it is appropriate to adjust liabilities:
• In Brazil, the PBO associated with new inactive participants that commenced benefits between the census and the
valuation date need to be added to the liabilities, as well as an adjustment for the surplus amount in the funding
valuation.
• In WE, the amounts are normally related to updated benefit amounts received from the client.
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• In Switzerland, participants who leave (or are hired) can transfer in/out their Cash Balance amounts and this can
generate a significant change in benefit payments and correspondingly in the assets and liabilities. The individual
participant changes are not always available at disclosure time.
High level summary of how this works
1. User creates Disclosure or NPBC scenario, where the Basic Information and Sensitivities tabs include liability
runs before any adjustments.
2. User populates the Additional Info tab with adjustments to the liabilities and the benefit payments to be
incorporated into the DBO/PBO and ABO and indicates whether the adjustment is as of the liability valuation
date or as of the fiscal year date. The adjustments will be rolled up with interest and timing based on the
timing indicated for the adjustment to the fiscal year date. There are two adjustments available and the
timing can vary for each row. These liability adjustments will be applied to the rolled forward disclosure
liabilities and to the NPBC liabilities and the sensitivity calculations.
3. The liability and benefit payment adjustments can be either positive or negative.
4. For disclosure results the adjustment to benefit payments will be applied to the cashflows and next year’s
expense calculation. For NPBC results the benefit payment adjustment will be reflected in the expense
calculation.
5. User launches the VRS (disclosure, NPBC or One Stop launch) or CRS and confirms that the adjustments to
liabilities and benefit payments are made in section 4.2 of the IW for the liabilities and in the sensitivity
section of the report.
6. All liabilities and benefit payments with the adjustments will flow into the client reports.
Reviewing Internal Worksheets where overrides have been applied

You can identify whether parameters or results have been overridden by the appearance of a general message in Section 1 of
the Internal Worksheet: “This valuation contains FR overrides. Review the sections identified as containing overrides
carefully.”
To identify where an override has occurred, the section after Section 1 where the override first affects display or results will
also contain a message: “This section contains overrides. Please review rows in bold font carefully.”
Reviewing Project List to identify where overrides have been applied

You can also identify which Valuation Report Scenarios have overrides by reviewing the Extra Description column in the
Financial Reporting Project list. If the Extra Description field is not present, you can add it using Column Chooser. The Extra
Description field is only populated for locked FAS Pension, OPRB and IAS 19 Rev 2011 scenarios. There are three types of
overrides that are identified from the VRS:
1) Whether an override event is present “Has Override Event”

2) Whether the liability information has been adjusted by an override “Has Liability Override”
3) Whether the selected liabilities are Import or Adjusted “Not Original Liability”
If none of three overrides are present, the extra description field will be blank for the Valuation Report Scenario.
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Quantify Financial Reporting – Special Events
SPECIAL EVENTS (INCLUDING MID-YEAR EVENTS)

Special events within Quantify FR
FR supports the automated calculation of special events (i.e., Curtailment, Settlement, Special Termination Benefit,
Acquisition) or Amendments in either an accounting NPBC scenario (with an effective date equal to the beginning of the year
or, for all standards other than FRS 102, any chosen mid-year date) or an accounting Disclosure scenario (with an effective
date equal to the end of the year) for all accounting standards (IAS 19 (pre-Rev 2011), IAS19 rev 2011, FAS Pension, FAS
OPRB, FRS 102).
The general FR override functionality also allows you to manually calculate / change the default calculated results for special
events. For IAS 19 (pre-Rev 2011), a common use of this would be to adjust the element of gains/losses recognized following
a settlement/curtailment for plans which do not recognize gains/losses via the SoRIE (Quantify FR calculations for IAS 19 (pre-
Rev 2011) use the default method suggested in para115 i.e. the pro-rata share of gains/losses and past service cost to be
recognized following a curtailment is based on the DBO before and after the settlement/curtailment event).
Please refer to the separate section within this guide headed ‘Applying Overrides’ for more detail.
You should not use the Override event to introduce special events. Special events are handled by adding an event of type
Curtailment, Settlement, Special Termination Benefit, or Acquisition. Then, after you view the calculated results in the Internal
Worksheet, if further changes are needed, you would add an Override event to make final adjustments to the calculated
results. For example, if you have a mid-year special event, add the event in either NPBC or Disclosure — whichever one will
give you the closest result — and then use Overrides to adjust the ‘Effect of’ calculated accounting results.
To incorporate the impact of curtailments and settlements into your calculated results, follow the steps in these sections:
Curtailment at the Beginning of the Year (NPBC Scenario) or at the End of the Year (Disclosure Scenario)
1. Add a Curtailment Event to the relevant NPBC or disclosure scenario.
2. Select the liability result set reflecting the plan liabilities calculated after the curtailment. The difference between the final
liability results of this result set compared to that of the prior event defines:
a. The change in PBO/DBO due to the curtailment.
b. The % change in Future Working Lifetime due to the curtailment (FAS only).
c. The % change in PBO/DBO due to the curtailment.
3. Launch the scenario, review the relevant curtailment calculations in the Internal Worksheet, and then determine which (if
any) calculated results will need to be overridden.
4. If changes are needed to the calculated results, unlock the Valuation Report Scenario and add an “Override” event in the
Valuation Changes input panel. Then input the desired amounts on the “Results” sub-tab of the Overrides tab.
5. The following calculated results are available overrides in relation to curtailments:
a. Effect of curtailment on net (gain)/loss (FAS and IAS 19 (pre-Rev 2011)).
b. Effect of curtailment on individual transitional obligation/asset bases (FAS only).
c. Effect of curtailment on individual prior/past service cost bases (not applicable for IAS19 rev 2011 or FRS 102)
d. Annual Payment on individual transitional obligation/asset bases (FAS only). In particular, note that FR
recalculates this amount during a curtailment event as the remaining balance divided by the remaining years for
each base.
e. Annual Payment on individual prior/past service bases. In particular, note that FR re-calculates this amount during
a curtailment event as the remaining balance divided by the remaining years for each base (not applicable for
IAS19 rev 2011 or FRS 102).
[Insert title
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Quantify Financial Reporting - Special Events
Notes: You will be able to add only one curtailment event to any Valuation Report Scenario. FR also requires that you enter a
curtailment event prior to a settlement event; i.e., the curtailment event option will be removed from the change event options if
you have already entered a settlement event as a prior event for this scenario.
Settlement at the Beginning of the Year (NPBC scenario) or at the End of the Year (Disclosure Scenario)
1. Create a new Asset Scenario in the normal process (i.e., at NPBC time take a copy of the Asset Scenario used in the
prior disclosure; at disclosure time create a new scenario based upon the Asset Scenario used at prior NPBC).
2. Open the Asset Scenario, click in the Settlement box, and enter the amount of the settlement. If the settlement is a
decrease in assets, enter the number as a negative. If your plan is unfunded or part-unfunded plan, then enter any
settlement transactions paid from non-trust assets in the separate non-trust details sub-tab.
3. In the Valuation Report Scenario, select the Asset Scenario created in Steps 1 and 2.
4. Add a Settlement Event to the relevant NPBC or disclosure scenario.
5. Select the liability result set reflecting the plan liabilities calculated after the settlement. The difference between the final
liability results of this result set compared to that of the prior event defines:
• The change in PBO/DBO due to the settlement. Note, in a US-GAAP valuation, please make sure that the
change in PBO equals the total of any trust and non-trust settlement amounts entered in the Asset Scenario (any
additional change in PBO associated with the settlement should be included in a separate event).
6. Launch the scenario, review the relevant settlement calculations in the Internal Worksheet, and then determine which (if
any) calculated results will need to be overridden.
Valuation Changes input panel. You would then input the desired amounts on the “Results” sub-tab of the Overrides tab.
8. The following calculated results are available overrides in relation to settlements:
a. Adjusted net (gain)/loss before settlement (FAS only).
b. Effect of settlement on net (gain)/loss (IAS 19 (pre-Rev 2011)and FAS).
c. Effect of settlement on individual transitional obligation/asset bases (FAS only).
d. Effect of settlement on individual past service cost bases (IAS 19 (pre-Rev 2011)).
e. Annual Payment on individual past service bases (IAS 19 (pre-Rev 2011)). In particular, note that FR re-
calculates this amount during a settlement event as the remaining balance divided by the remaining years for
each base.
Note, you will be able to add only one settlement event to any Valuation Report Scenario.
Calculating effect of mid-year special events

Quantify supports the automated calculation of mid-year curtailments, settlements, acquisitions or amendments for all
accounting standards, with the exception of FRS 102. Users can add mid-year events on a single date during the fiscal year in
any NPBC scenario.
More than one event may be valued as of the selected mid-year date, but only one mid-year date within the fiscal year can be
selected. Users are also currently able to add only one curtailment or settlement event to any Valuation Report Scenario. FR
also requires that you enter a curtailment event prior to a settlement event; i.e., the curtailment event option will be removed
from the change event options if you have already entered a settlement event as a prior event for this scenario.
Users needing to reflect multiple special events at different mid-year dates will however still be able to avail of the standard
override functionality to reflect the required values in their final expense calculations for the year.
To have FR automatically calculate all the effects of a mid-year event, follow the steps below:
1. Open the required beginning of year NPBC scenario (containing all the standard beginning of year events e.g. Experience,
Rate of Return etc.).
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2. To add a Mid-Year Event, select the Add button under Valuation Changes and select Remeasure from the drop-down menu
under Change Type.
3. Fill in the Effective Date next to Remeasure with the appropriate date of the mid-year event.
4. A new box called Asset Scenario - Mid Period appears under Asset Scenario. Select the appropriate Asset Scenario which
details the assets from the valuation date to the mid-year event effective date. The only assets scenarios available in the drop
down are the Asset Scenarios for this same time period.
a. To create a new Asset Scenario for the time from the valuation date to the mid-year event effective date:
i. Go the Financial Reporting Screen of Quantify
ii. Click Add Item and select Asset Scenario from the drop-down menu
iii. Select the New button to open the New Asset Scenario dialog box
iv. Name the new Asset Scenario
v. Select the appropriate Plan
vi. Select Interim for the Type
vii. Select Accounting for the Purpose
viii. Select the same Asset Scenario that was chosen on the Basic information Screen as the Prior
Scenario. The Prior Scenario should include the assets during the entire valuation year.
ix. Enter the mid-year even effective date as the Reporting Date
x. Click OK.
b. Fill in the appropriate asset information for the period from the valuation begin date to the mid-year event
effective date.
c. Return to the NPBC valuation scenario basic information tab. The newly created interim Asset Scenario should
now appear in the list of available options in the ‘Asset Scenario – Mid Period’ dropdown box.
5. In the Event Details section for the Remeasure change type, select the relevant Liability Result containing details of your
liabilities immediately prior to the mid-year special event.
6. Add your required mid-year Event i.e. Curtailment/Settlement/Amendment/Acquisition etc. The effective date will automatically
be set to the effective date selected for the Remeasure change type. If the scenario is for a FAS Pension, FAS OPRB or IAS
19 Rev 2011 valuation, you may also choose to enter a custom description for the event (up to 18 characters). This description
will flow into the Internal Worksheet as the Event header descriptions for the events.
7. Select the liability result set reflecting the plan liabilities calculated after the chosen special event. The difference between the
final liability results of this result set compared to that of the prior event defines:
a. The change in PBO/DBO due to the special event.
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b. The % change in Future Working Lifetime due to the curtailment (FAS only).
c. The % change in PBO/DBO due to the curtailment or settlement.
8. Launch the scenario.
9. Quantify FR will complete the calculations in the following manner and produce the following outputs:
a. NPBC First Period Internal Worksheets: An Internal Worksheet covering the period from the beginning of the
year to the mid-year event. A beginning of year expense is calculated and pro-rated to reflect the period from the
beginning of the year to the mid-year event.
b. Impact of Mid-Year Events Internal Worksheet: An Internal Worksheet setting out the effect of the special event
at the mid-year date
c. NPBC Second Period Internal Worksheets: An Internal Worksheet covering the period from the mid-year event to
the end of the year. A full year expense calculation is performed at the mid-year date based the re-measured
assets and liabilities and pro-rated to reflect the period from the mid-year event to the end of the fiscal year. An
additional section is included at the end of this worksheet summarizing the overall expense for the year i.e.
before, during and after the mid-year event.
d. The Client Report contains an additional (optional) exhibit Appendix D, summarizing the expense before, during
and after the mid-year event, with the overall total being reflected in the relevant sections of the main body of the
report.
10. Review the relevant calculations in the Internal Worksheets, and then determine which (if any) calculated results will need to
be overridden.
Valuation Changes input panel. Then input the desired amounts on the relevant sub-tab of the Overrides tab. For mid-year
events, users will be able to override key selected results in the relevant NPBC First Period, Mid-Year Events, or NPBC
Second Period calculations.
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Quantify Financial Reporting – Interim Reporting
INTERIM REPORTING
Interim reporting functionality within Quantify FR
FR currently supports the calculation of interim reporting disclosures for IAS 19 (pre-Rev 2011), IAS 19 (Rev 2011) and FRS
102. In general, interim reporting requirements under these accounting standards are more onerous than under FAS Pension
in relation to the need to re-measure plan assets and obligations. In the following we use simply “IAS 19” for both IAS 19 (pre-
Rev 2011) and IAS 19 (Rev 2011).
To produce interim reporting disclosures for either IAS 19 or FRS 102, follow the steps in these sections:
1. Create an Interim Asset Scenario
a. Create/copy a new Asset Scenario with:

• Type = Interim
• Reporting Date = The date on which you want to produce your interim disclosures
b. Enter transaction and asset details for the period from the beginning of the year up to your interim reporting date.
2. Create an Interim Disclosure Valuation Report Scenario
a. Create a new Valuation Report Scenario with:

i. Type = Interim
ii. Prior Scenario = Beginning of year NPBC scenario
iii. Reporting Date = The date on which you want to produce your interim disclosures (note, this should be
the same interim reporting date used in creating your interim Asset Scenario)
b. In the Asset Scenario selection drop-down list, select your interim Asset Scenario from step 1. above, complete
the rest of the required inputs, and click Launch.
The remainder of the workflow involved in producing interim disclosures under Quantify FR is the same as that which applies
for standard year-end disclosures. Please refer to the IAS 19 & FRS 102 Workflows Guides – Guide 2 for more detailed
workflow instructions.
Interim reporting outputs

The reports generated from an interim reporting disclosure valuation scenario are consistent with the corresponding outputs
from a standard disclosure in FR.
The Reports tab on a locked interim scenario for IAS 19 or FRS 102 will show two items: Internal Worksheets, and Interim
Client Report. These reports can be printed off or saved to your local network drive using the same general functionality as a
standard disclosure.
[Insert title
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Quantify Financial Reporting – Consolidated Reporting
CONSOLIDATED REPORTING
Overview
A Consolidated Report Scenario (CRS) can be used to create a client report which consolidates the results from multiple
individual Valuation Report Scenarios (VRSs). There are four different types of CRS:
1. Accounting Only, which consolidates the results of multiple accounting VRSs of the same purpose for single or multiple
clients. Every accounting purpose in Quantify FR can be consolidated with a CRS. For clients which require international
consolidation of accounting results for plans from different countries (including currency conversion), however, FAStrack
may be more suitable than FR for producing consolidated reports (see separate section ‘Exporting Quantify FR results to
FAStrack’).
2. Funding Only, which consolidates the results of multiple PPA VRSs for the US tax qualified pension plans of a single
client.
3. Single Plan Funding and Accounting, which consolidates the results of a PPA VRS and either a FAS or IAS 19 Rev 2011
NPBC VRS for a single US tax qualified pension plan.
4. Multi-plan Funding and Accounting, which consolidates the results of either
a. pairs of PPA VRSs and FAS or IAS 19 Rev 2011 NPBC VRSs or
b. single FAS or IAS 19 Rev 2011 NPBC VRSs
for the pension plans of a single client.
All of the VRSs included in any CRS must have the same Fiscal Year End/Beginning and/or Plan Year Beginning date. The
Accounting Only type CRS can include results from up to 49 individual accounting VRSs. The Funding Only type CRS can
include results from up to 23 individual PPA VRSs for US tax-qualified plans. The Multi-Plan Funding and Accounting type
CRS can include up to 23 input rows with either pairs of PPA and accounting VRSs or only an accounting VRS (generally
applicable for non-qualified plans).
The outputs from an Accounting Only type CRS consist of the following:
1. A client report in Word with consolidated results for multiple plans has the same look and feel as the accounting report
for each of the plans. Values from the individual reports are treated in one of the following ways:
a. Values associated with costs, liabilities, and balance sheet entries are aggregated.
b. Rates (asset returns, funded ratios, economic assumptions) are calculated on a weighted basis or averaged from
the totals.
c. Participant Data- Values from Section 1 of the Client Report will be totaled or averaged, as applicable.
2. An Excel document containing an Appendix (two versions in the case of NPBC for FAS Pension or FAS OPRB), which
breaks out the client report results by plan in multi-column tables. Prior Year results are not shown in this Appendix.
3. An Excel file containing all of the fields used to populate the multi-plan result Appendix (plus any additional data fields
currently available for export from the legacy German IAS/FAS tools), usable for custom reporting.
Every other CRS type produces only a single Word document with the consolidated VRS results. The reports from a Funding
Only type or a Multi-plan Funding and Accounting type CRS generally display current year results in tables with a column for
each plan (plus a column for totals, as applicable).
Creating and Launching a New CRS in Quantify FR – steps involved

1. Go to the Financial Reporting section within the client and project.
2. Select Add Item and choose “Consolidated Report Scenario”, and in the resulting dialog box:
3. Click New
5. Enter scenario description (optional)
6. Select the CRS Type.
[Insert title
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Quantify Financial Reporting - Consolidated Reporting
7. Select the Purpose.

8. Enter the appropriate Fiscal Year Begin/End date and/or Plan Year Begin date.
9. Select OK to open the new CRS.
10. On the Basic Information tab:
a. Sponsor Name in Consolidated Report (Not available for Single Plan Funding and Accounting type): Enter the
name of the combined plan sponsor for purposes of this report. This is the name that will appear on the title page
of the Client Report, in the page footers, and in the body of the report.
b. From the List of Valuation Report Scenarios, select the Valuation Report Scenarios (VRSs) to be included in the
CRS. You can Add and Remove scenarios, Open any of the listed scenarios, and sort the scenario list.
c. To add VRSs to the consolidated report:
i. Select the Add button. A new window appears that displays all of the VRSs with the same Purpose and
Fiscal Year Begin/End Date and/or Plan Year Begin Date that were selected in the creation dialog box for
the CRS. For type = Multi-Plan Funding and Accounting the list displays only pension plans.
ii. Select the VRSs to add to the CRS. To select multiple VRSs, hold down the Ctrl or Shift keys while
selecting. For Funding and Accounting type, first select a Plan from the dropdown box, then select one
PPA Funding VRS and one NPBC VRS for such Plan (and repeat this process for the other Plans to be
included). If type = Multi-Plan Funding and Accounting, then you also can select an NPBC VRS (instead
of a PPA/NPBC pair).
d. To remove VRSs from the CRS: Highlight the VRS(s) to remove and select the Remove button.
e. To open and view any of the VRSs in the CRS: Highlight the VRS and select the Open button.
f. To change the order that the plans appear in the Consolidated Report (Not available for Single Plan Funding and
Accounting type): Change the numbers for each plan under the User Defined Report Order column next to the
Consolidated Report Plan Name column on the List of Valuation Report Scenarios. The default order of the plans
is alphabetical based on the Consolidated Report Plan Name.
Note: When selecting VRSs to be used in a CRS, ensure such VRSs have been launched since the most recent Quantify
release date (Quantify releases generally occur in February and October). From time to time the client reports are
updated to display new fields and in order to make sure each underlying VRS includes any new fields to be shown, the
VRS may need to be launched under the latest Quantify code. Otherwise the CRS may not launch.
11. The “Consolidated Report Plan Name(s)” for each selected VRS in the list are plan names which will appear in the
consolidated reports. To change the name(s):
a. Go to the Clients & Plans view
b. Double-click on the appropriate client
c. Go to the Plans tab and select the appropriate plan from the list of plans
d. Enter the new Consolidated Report Plan Name in the Consolidated Report Plan Name field on the Basic Info tab.
The default for this field is the short plan name, restricted to 20 characters.
12. Click on the Client Report Parameters tab
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Quantify Financial Reporting - Consolidated Reporting
a. Select the required rounding or scaling factors (Available for Accounting Only) for your CRS. You need to make
sure that all of the VRSs chosen to be consolidated have the same rounding and scaling basis and that same
basis is in the CRS.
b. Select Client Report Text (see separate section in this guide on ‘Customizing Client Reports’ for further
information. CRTs defined with Owner set to Client are available for use in CRSs. Only Funding type CRTs are
available for Single Plan Funding and Accounting type CRSs.
c. Select the Summary of Principal Plan Provisions Client Report Document to include as Appendix B in your CRS.
Use the selection drop down to select the Client Report Document previously uploaded that contains the
formatted Summary of Principal Plan Provisions for Appendix B of your Consolidated Report.
d. Select the Statement of Methods and Assumptions Client Report Document (Not available for Accounting Only or
Single Plan Funding and Accounting type) to include as Appendix A in your CRS, Use the selection drop down to
select the Client Report Document previously uploaded that contains the formatted Statement of Methods and
Assumptions for Appendix A of your Consolidated Report.
e. Select the required number of percentage decimal places (Available for Accounting Only) for your CRS. The
default selection for CRSs is 3 places.
f. Select the required Report Language (Available for Accounting Only - IAS 19 (pre-Rev 2011) and IAS 19 Rev
2011 purposes only) for your CRS. The default option for all IAS 19 (pre-Rev 2011) and IAS 19 Rev 2011 CRS
objects is English (UK). Please note, uploaded documents and default or custom text included as part of a CRT
object will not be translated. The documents and sections modified or included in CRT will need to be manually
translated.
g. Include Appendix C – AFTAP Certification (Available only for Funding Only and Funding and Accounting types).
When this check box is selected, the generated report will include the appendix covering AFTAP certification
results for each included PPA VRS. The default option is to include Appendix C – AFTAP Certification.
h. Select the appropriate Age/Service Chart option (Available for Single Plan Funding and Accounting only) for your
CRS. Use the selection drop down to control whether average compensation is included as part of the
Age/Service distribution chart. The default for this drop-down is set to the selection made in the Client Report
Parameters tab of the Plan parameters. For multi-plan Funding or Funding and Accounting type CRSs, the
Age/Service Chart for each individual VRS will be controlled by the corresponding selections made in each VRS.
i. Enter associate names for report signatures in the Client Report Signatures section. You can fill in the Signature
Name and the Client Role as you want it to appear in the Consolidated Client Report.
13. Click Launch
14. You can also create a Consolidated Report from a Bulk Valuation Report. To do so, press the “Create Consolidated
Report using Selected” button on the “Scenario Details” tab of a bulk object. This creates a Consolidated Client Report
(CRS) with all selected VRSs from the Bulk object. Two conditions must be satisfied:
- All selected VRS must be locked.
- All selected VRSs must the same FYE (if DSCL) or FYB (if NPBC)
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Quantify Financial Reporting – Liability Sensitivities
LIABILITY SENSITIVITIES
As part of FAStrack submissions, it is increasingly standard practice for ICG to request sensitivity of PBO/DBO and Normal
Cost on a prescribed set of up to 8 key assumptions (for both US GAAP and IAS 19). Disclosure of the sensitivity of the DBO
to changes in key assumptions is also a local client report disclosure requirement under IAS 19 rev 2011.
A client would typically have all the source liability data in a single liability run in Quantify Liabilities and all the main accounting
results in disclosure & NPBC Valuation Report Scenarios for each plan in Quantify FR.
Quantify FR provides for improved efficiency of generating the required liability sensitivities and automates the transmission of
these sensitivities to FAStrack and/or the IAS 19 rev 2011 client report generated in Quantify for affected clients.
Please note that this feature does not support pre-Amendments Liability sensitivities. If the main scenario requires pre-
amendments Liability Sensitivities, you have to create a FAStrack Set (see “Setting up a FAStrack set in Quantify FR” section
of this guide for more details).
A Sensitivities tab appears in relevant Valuation Report Scenarios in Quantify FR (on individual or Bulk Valuation Report
Scenarios)
• FAS Pension NPBC & FAS OPRB NPBC (to enable population of sensitivities in FAStrack D&E submission imports)
• IAS 19 rev 2011 Disclosure (to enable population of sensitivities in disclosure only report)
• IAS 19 rev 2011 NPBC (to enable population of sensitivities in one-stop report and in FAStrack D&E submission imports)
This tab is an optional tab and has no impact on the subsequent calculations or client reports for client teams where provision
of these liability sensitivities is not required.
[Insert title
129
Quantify Financial Reporting - Liability Sensitivities
The layout of the tab is fixed mirroring the corresponding standard sensitivities in FAStrack. For more information on setting up
FAStrack Sets for liability sensitivities, please see the FR Import for a FAStrack set for Liability Sensitivities section. Users
only populate fields for any needed sensitivities for the particular plan.
1. On the Sensitivities tab, select Liability Results for each needed sensitivity. Any liability result that is available for
selection for an EXPER-ASUMP or ASSUMP event on the main Basic Info tab can be selected
2. Choose the Selected Valuation Date for the range of valid dates associated with the select Liability Result.
3. For Discount Rate or Trend Sensitivity Rate sensitivities, choose the relevant sensitivity variation for the list available.
4. [Optional step] Edit the default descriptions for any mortality, trend or custom sensitivity variations
5. Launch the scenario
Upon launch, a sensitivities section will appear at the end of the generated Internal Worksheets documenting the sensitivity
calculations inputs and final values.
If you have selected liability results for a sensitivity with an effective date prior to the fiscal year begin date, FR will roll the
liabilities to the fiscal year begin date. If the selected sensitivity results are at the same date and liability type as the final event
in the Basic Information grid, then any Actual Benefit Payments entered or used from that final event are also used in
sensitivity roll-forward calculations; otherwise the expected benefit payments from each sensitivity liability are used in any
sensitivity roll-forward calculations.
These calculated PBO/DBO and Normal Cost liability sensitivities will be automatically imported into FAStrack along with the
main Valuation Report Scenario results. For IAS 19 rev 2011 clients, the relevant exhibits in the client report will also be
populated with any sensitivities populated in the Valuation Report Scenario.
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Quantify Financial Reporting – Applying Taxes on Contributions (IAS 19 rev 2011 only)
APPLYING TAXES ON CONTRIBUTIONS (IAS 19 rev 2011 only)

IAS 19, rev. 2011 introduced a change in the accounting treatment of the taxes on contributions for all plans in several
countries, including Belgium and Australia.
Overview
In Belgium, a premium tax of 4.4% on employee and employer contributions to finance retirement and death benefits is paid
via the Fund. In addition, there is also a social security contribution of 8.86% on employer contributions. This social security
contribution is paid by the employer immediately. Australia has a single 15% tax rate paid by the Fund on employer
contributions.
Companies were generally accounting for these taxes on contributions outside of the plan under IAS 19, rev. 2008. Under IAS
19, rev 2011, however, these taxes need to be allowed for in measuring the DBO and current service cost.
Quantify FR has been enhanced to do these tax adjustments. Although the primary business need for this feature relates to
Belgium and Australia, the solution has been designed in a flexible manner so it could be potentially used by other countries
with similar needs to reflect taxes on contributions for IAS 19 rev 2011.
Calculations in Quantify FR
To incorporate the impact of taxes on contributions into your calculated results, follow the steps below:
1. In your accounting Asset Scenario, enter any tax payments paid over the previous year in the Tax Payments row (any
payments made by the Fund should be entered on the Trust tab; any tax payments paid directly by the Employer should
be entered on the non-trust tab)
2. On the Additional Info tab, check the "Apply Taxes on Contributions" check box and enter the relevant tax rates
3. Select the relevant option to indicate in the "Contributions to Which Fund Tax Applies" dropdown
a. If tax is payable by the Fund only on employer contributions, then select "Employer Only" (this is the method
expected to be selected for Australian plans)
b. If tax is payable by the Fund on both employer and plan participant contributions, then select "Employee and
Employer" (this is the method expected to be selected for Belgian plans)
4. Select the relevant option in the "Calculation Method" dropdown to indicate how any taxes should be applied
a. "Tax-on-Tax" (this is the method expected to be selected for Australian plans)
b. "Flat Tax" (this is the method expected to be selected for Belgian plans)
5. These options only need to be specified or set the very 1st time you apply taxes on contributions to your Valuation
Report Scenario. The options you select for items 2. 3. & 4. above will then automatically be carried forward from year to
year and become the default selections for all subsequent scenarios for this plan
6. Launch your Valuation Report Scenarios and open the Internal Worksheets and client reports to review the results
[Insert title
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Quantify Financial Reporting - Applying Taxes on Contributions (IAS 19 rev 2011 only)
a. Additional calculations are performed to automatically adjust the DBO for the effect of the specified taxes (see
Section 4.2 of the Internal Worksheets)
b. Additional calculations are completed to also automatically adjust the various components of benefit cost for the
effect of the specified taxes (see Section 7.2 of the NPBC worksheet and Section 5 of the disclosure worksheet)
c. Tax payments entered in the Asset Scenario flow through into the relevant calculations and exhibits (see Section
3 of the Internal Worksheets and the relevant tax rows in the client report are automatically populated)
7. If your client applies taxes (or particular elements) in a non-standard or different methodology than those supported by
Quantify, you can use the existing override functionality to make any additional required adjustments to the final
calculated components.
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Quantify Financial Reporting – Export to FAStrack
EXPORTING QUANTIFY FR RESULTS TO FASTRACK

Overview
FAStrack is a web-based software tool designed and used by WTW associates for the international consolidation and
reporting of U.S. GAAP (FAS 87/88/106/132R/158) and IFRS (IAS 19) financial results.
Consultants using Quantify FR to calculate their U.S. GAAP or IAS 19 pension accounting results are able to upload these
results into a FAStrack submission. This automated process removes the onerous task of manually entering all data into
FAStrack.
To do this, users will need to create a FAStrack Set in Quantify FR and then import the FAStrack Set into FAStrack. A
FAStrack Set consists of the main NPBC valuation scenario, as well as sensitivity scenarios that may be needed for the
submission.
Quantify does not do any actuarial calculations in preparing the FAStrack Set; it simply packages the information from the
selected valuation scenarios so that the results can be imported into FAStrack.
After importing into FAStrack, the actuary will need to finish up the remaining FAStrack entries that are not part of the FR
outputs, such as detailed asset allocation and plan specific comments.
Getting Started (consolidation actuary & local actuary)

Before setting up the Client in Quantify, Global Services and Solutions associates (Consolidation actuary) should coordinate
the following items with the local actuaries:
1. Determine who will be responsible for which tasks. Generally, it is the Global Services and Solutions associate’s
responsibility to create the Corporate Consolidation Client in Quantify and link the Local Client and its Plans to the
Corporate Consolidation Client. It is generally the local office’s responsibility to produce the calculation results, prepare
the FAStrack Set within Quantify FR, and to import the FAStrack Set into FAStrack.
2. Request the Local Client and Plan names from the local actuaries as they appear in Quantify. If there is more than one
plan, then the local actuary should inform the Consolidation actuary of the mapping between the local plan names and the
consolidation plan names. This is needed so the Consolidation actuary can set up the links to the Local Client and Plan.
3. Communicate the assumptions and sensitivities that will be needed and in what order the local actuaries should input this
information into the FAStrack Set. For example:
a. Assumption 1 = Discount Rate, Variation 1 = +.5%, Variation 2 = -.5%
b. Assumption 2 = Salary Scale, Variation 1 = +1%, Variation 2 = -1%
See the example in Step 5 of the Setting Up a FAStrack Set in Quantify FR section below to see how this information is
used within Quantify FR. For more information on setting up FAStrack Sets for liability sensitivities, please see the FR
Import for a FAStrack set for Liability Sensitivities section.
Setting Up a Corporate Consolidation Client in Quantify (consolidation actuary)

The Global Services and Solutions practice will set up the appropriate client information within Quantify for Corporate
Consolidation Clients and link them to the Local Client where the valuation is done in Quantify FR by the local actuaries. To be
available in FAStrack, the Corporate Consolidation Client must be set up in the North American Quantify environment. Local
actuaries should coordinate with the Global Services and Solutions practice before creating a new client for purposes of
importing results into FAStrack.
The Consolidation actuary should do the following steps to set up a Corporate Consolidation Client in Quantify:
• Open Quantify.
• Go to the Clients & Plans view by selecting the Clients & Plans button in the lower left-hand corner of the screen.
[Insert title
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Quantify Financial Reporting - Export to FAStrack
• If the Client does not already exist in Quantify, then create a new Client in the normal process (see separate “Clients
& Plans" section in the general guide for more details).
• Double-click on the Corporate Consolidation client’s name to open up the client’s information, then go to the Basic
Info tab and look at the Client Type.
o If the Client Type is set to Local Client but the box is not grayed out, the user will need to click on the drop
down and select Corporate Consolidation Client.
o If the Client Type is set to Local Client and the box is grayed out so that the user is unable to change the
Client Type, then the user should determine the Corporate Consolidation Client that the Local Client is
already linked to. A decision should be made as to which client will hold the Corporate Consolidation data
and which will hold the local country client data.
• Once you have a Corporate Consolidation Client set up in Quantify, a new tab will appear within the Client next to the
Basic Info tab called Local Clients. This tab allows the Consolidation actuary to select Local Clients to be associated
with the Corporate Consolidation Client. To add Local Clients to the Corporate Consolidation Client:
o Go to the Local Clients tab

o Select the Add button at the top of the screen.
o A screen appears that shows you all of the Local Clients already created within the Quantify system. To add
a Local Client, highlight the client or clients, and then select the Open Client button.
▪ See “Local Clients in the EMEA Environment” for help when the Local Client is not available to be
linked.
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You will only be able to see the local clients that you have access to within Quantify. If a colleague needs to link a client
that they do not have access to, they will need to request access from the local client team or an existing administrator of
the client. To determine who is an administrator of the client, the user can contact a member of the Consolidation Client.
o You can also remove local clients by highlighting the client or clients and selecting the Remove button.
You are not able to remove a Local Client if one of its plans has been linked to a plan in the associated Corporate
Consolidation Client.
• After linking Local Clients on the Local Client tab, the user will need to go to the Plan tab of the Corporate
Consolidation Client to select the appropriate Local Plans to link to the FAStrack Plan. To do this:
o Select the FAStrack Plan from the list.

o Go to the Linked Local Plan tab at the bottom of the screen.
o Select the Update Link button
o Choose the Local Client and Local Plan to link to the FAStrack Plan selected above.
o Select OK.
o Repeat the steps above for all appropriate FAStrack Plans.
• If not already completed, you will need to set up user permissions for local WTW associates and client contacts on
the Users tab. Anyone with administrator permissions to the client can grant access to additional colleagues and/or
external users. See the general Quantify user guide and the FAStrack guide for more information.
Local Clients in the EMEA Environment

In order to import Quantify FR results from a Local Client in EMEA into FAStrack, the local actuary needs to enable the
FAStrack sync first to allow for the consolidating actuary to link the Local Client to the Corporate Consolidation Client.
There are two ways for the EMEA local actuary to enable the FAStrack sync:
• The local actuary with Admin permissions for the Quantify EMEA client goes to the Quantify Configuration tab then
selects “Synchronize Client to support FAStrack Access”
• If the local actuary creates a FAStrack Set, a Bulk FAStrack Set or copies an existing FAStrack set, the option
“Synchronize Client to support FAStrack Access” is turned on automatically by the system.
After the synchronization, the EMEA Local Client will be visible in the 'Add Local Clients' list in the 'Local Clients’ Tab of the
Corporate Consolidation Client. If the client is added, the plans in the EMEA Local Client will be available to link on the Plans
tab. Note: It can take up to 15 minutes for the synchronization to take place and for the EMEA Local Clients and plans to be
visible to the Corporate Consolidation Client.
If the option “Synchronize Client to support FAStrack Access” is removed from the EMEA client, existing FAStrack sets can
still be imported in FAStrack. New plans created after the option is removed will not be available to be mapped to the
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Corporate Consolidation client until the option is re-added and the synchronization is complete. If a new FAStrack set is
created, this will automatically re-add the synchronization option and the new set will be available in FAStrack after the delay.
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Setting up a FAStrack set in Quantify FR (local actuary)
Client teams will need to go to the Global Services and Solutions practice to first determine what assumptions and sensitivities
should be run and in what order these assumptions and sensitivities should be imported into the FAStrack Set before
proceeding. It is important that this is known prior to creating the FAStrack Set, otherwise there will be a mismatch of the
calculation results in Quantify FR and the intended result sets in FAStrack.
Within the local Quantify FR client, the local actuary generates all of the results that were requested by the global
consolidation team for the various assumption sets i.e. the local actuary uses FR to create all the relevant disclosure or NPBC
scenarios for either FAS Pension or IAS 19 (see workflow guides for detailed instructions)
The local actuary team checks and reviews the results and is now ready to upload into FAStrack.
The local actuary goes back into the local client and creates a new object type called “FAStrack Set”
1. Open Quantify project for the client and select Financial Reporting
2. Select Add Item and choose “FAStrack Set” from drop-down box
a. Click New
b. Name the new FAStrack set and optionally enter description
c. Select the Plan.
d. Type is automatically set to Standard.
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e. Select FAS Pension NPBC, IAS 19 NPBC or IAS 19 Rev 2011 NPBC as the Purpose. For OPRB plans, select
FAS OPRB NPBC, IAS 19 NPBC or IAS 19 Rev 2011.
f. Enter the Fiscal Year Begin Date for a NPBC scenario e.g. to create a FAStrack set for D&E submission for
disclosure as of 31 Dec 2018 & expense at 1 Jan 2019, create a FAStrack Set using an NPBC scenario with
Fiscal Year Begin Date of 1 Jan 2019.
g. Click Ok
3. Within this object, select the Main scenario from within the dropdown menu
4. If the main scenario contains all the liability sensitivity information needed by FAStrack (see the “Liability Sensitivities”
section of this guide for more details) then skip to 6. below.
• Please note that in order for the Benefit Obligation Reconciliation page to be populated correctly in FAStrack, the
order of the events in the VRS needs to be 1) prior year assumptions, 2) plan amendments (if applicable) and 3)
assumption changes. You will need to adjust the Liability page entries in FAStrack to get the desired results on
the Benefit Obligation Reconciliation page if you have a different order to your events.
5. If you need to calculate full pension cost sensitivities in Quantify FR and pass these calculated sensitivity results to
FAStrack (rather than only passing Liability Sensitivities to FAStrack and having FAStrack calculate the corresponding
benefit cost sensitivity results), then select the applicable Sensitivity Scenarios that apply for the plan in the same order
as is requested in FAStrack. (It is assumed that the sensitivity Valuation Report Scenarios have already been set up and
launched in Quantify.) For example, if there is a sensitivity assumptions of +/- 0.5% for the discount rate and +/- 1% for
the salary scale and the Global Services and Solutions practice told the local actuary to enter the Discount Rate as
Assumption 1 and the Salary Scale as Assumption 2 and that Variation 1 should be the increased sensitivity and
Variation 2 should be the decreased sensitivity, then the user should complete the assumptions sensitivity grid as
follows:
Sensitivity
Variation 1 Variation 2
scenarios
Assumption 1 Discount rate sensitivity of + 0.5% Discount rate sensitivity of - 0.5%
Assumption 2 Salary scale sensitivity of + 1% Salary scale sensitivity of - 1%
Assumption 3
• Note, for Granular Discount Rate valuations, FAStrack does not automatically calculate the sensitivities on
Expense or Service Cost plus Interest Cost if the selected sensitivity method (in your FAStrack submission Admin
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options) is set to “Granular - Collect Average Discount Rates Only” or “Granular - Collect Cashflows Only”. If your
situation matches this, you will need to follow step 5 above when setting up your FAStrack set.
• If you are running a Granular Discount Rate valuation in Quantify FR and are not collecting sensitivities on
Expense or Service Cost plus Interest Cost in FAStrack, then you may just utilize the Sensitivities tab in your VRS
to generate the liability sensitivities in your VRS, and then in your FAStrack set just select that VRS as the main
scenario.
• See section FR Import for a FAStrack set for Liability Sensitivities for more information.
6. Select the Implied Scaling Factor that was used in each of the valuation scenarios selected above. Users can select
“None”, “Thousands”, or “Millions”. (For example, if “10,000” was entered in Quantify FR as the fair value of assets when
the actual value is “10,000,000,” then the implied scaling factor should be set to “Thousands” in the FAStrack Set.). The
Implied Scaling Factor must be consistent for all Valuation Report Scenarios used in the FAStrack set.
7. Once all of the appropriate information is filled in, select the Launch button in the upper left hand corner of the screen.
Once the FAStrack Set is locked, it will be available for import into FAStrack.
Valuation Changes order in Quantify FR Disclosure

Client teams may need to update the valuation changes event order in the Quantify FR Disclosure Valuation Report Scenario
that is used by the selected NPBC prior to running the import into FAStrack. This is due to how FAStrack populates the liability
values from the Disclosure scenario and updating this order prior to running the Import may save time by avoiding manual
updates.
In order to have FR Import correctly populate the Liabilities Information page in the FAStrack submission, the suggested order
of the valuation changes is as follows:
1. Experience or Experience-Assump
2. Amendments
3. Assumption Changes
Note that there is a Quantify FR User Interface validation check that compares the discount rate of the Amendment event to
the prior event. If the discount rate does not match, then a validation error will prevent you from launching. In situations where
the discount rate is changed in the Assumption event and the Plan Amendment also uses the same discount rate and must
follow the Assumption change event, you may need to manually correct the liability information in FAStrack after running the
FR Import.
If your Disclosure scenario includes end of year special events, there is no specific order of the special events that must be
followed prior to running the FR Import. Quantify FR only requires that a Curtailment event be ordered prior to any Settlement
event.
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Creating multiple FAStrack sets in one process

1. For clients with a large number of plans it is recommended to use a Bulk FAStrack Set to create the individual FAStrack
sets for each plan.
a. Select Add Item and choose “Bulk FAStrack Set” from the drop-down box.
b. Click New, enter a name and select the purpose of the source scenarios.
c. Go to the “Main Scenarios” tab of the Bulk FAStrack Set and select the main scenario for each plan. You can do
this in two ways:
i. Click on the Add button (green oval) and select the main scenario for each FAStrack set from the
selection list. You can only select locked scenarios of the type you entered in the field Purpose.
ii. Alternatively, you can select a Bulk VRS as input (blue oval). All valuation scenarios in the Bulk VRS will
be used as main scenarios for the individual FAStrack sets of each plan. Only locked Bulk VRS objects
of the type you entered in the field Purpose can be used as input.
iii. Of course, i. and ii. can be combined.
d. On the “Details & Sensitivity Scenarios” tab you can enter the sensitivity scenarios. This step follows the same
rules as for individual FAStrack sets (see step 4. in the prior section). You can also select a scaling factor.
A very efficient way to populate the fields is to use the functionality to copy and paste data between the Scenario
Details tab and an Excel worksheet. To learn more about this functionality please see section “Create multiple
Asset Scenarios and input all transactions in one process” in the chapter “BULK PROCESSING”. You can also
use this feature to rename the generated individual FAStrack sets.
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e. Press the “Select All” button, then the “Launch Selected” button to lock the individual FAStrack sets (only locked
FAStrack sets can be uploaded to FAStrack). If you need to change some or all of your FAStrack sets, you need
to unlock them before doing so by pressing the “Unlock Selected” button.
Importing the Quantify FR FAStrack Set into FAStrack (local actuary)

To upload a FAStrack Set from Quantify FR into FAStrack:
1. Open OnePlace by going to <https://oneplace.ehr.com> and logging in using your network username and password.
2. Select the FAStrack Global tool.
3. Select the appropriate Client from the list of clients. If client is not listed, then the user does not have permissions to the
client in Quantify. The user will need to request access from the Consolidation actuary of the client in Quantify or contact
RSG Service Desk Support.
4. Click on “Import or Export Data”.
5. Select the plans you want to process and click on “FR Import”.
6. Select the relevant FAStrack Set from Quantify FR from the drop-down list. All FAStrack Sets for the particular plan will
be available in the drop-down list once they are locked in Quantify FR and have the appropriate calculation type with the
corresponding submission date.
7. Click the Import button at the top of the screen. Note that importing from Quantify will overwrite existing values in the
submission.
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Note: If the FAStrack Sets drop down menu does not appear, here are a few trouble shooting suggestions:
a.) Verify that the Local Client is linked to the appropriate Consolidation Client.
b.) Verify that the Local Plan is linked to the appropriate Consolidation Plan.
c.) Verify that the FAStrack Set has the appropriate Report Type and Date.
d.) Verify that the FAStrack Set is Launched and Locked in Quantify FR.
e.) Refresh OnePlace by logging out, then log back in to FAStrack.
f.) Contact RSG Service Desk Support, particularly if you need assistance in relation to a. and b. above
8. Users can also select more than one submission in step 5 and click the Import or Export Data option on the left hand
side of the screen. The screen in step 6 will then show one row for each submission. After selecting the appropriate
FAStrack set for each plan, click the Import button and the system will import the FAStrack sets for all submissions on
this screen at once.
9. Review any issues that were identified during the import. As part of the import process, FAStrack compares its calculated
values to the values calculated in the associated valuation scenario in FR, and FAStrack reports any differences in the
issues log. Note that the calculation procedures in FAStrack are similar but not identical to the calculation procedures in
FR, and the procedures were not changed for either system in conjunction with the import feature. Therefore, it is up to
the local actuary to review any differences and adjust the submission as appropriate.
10. Review the data on each FAStrack submission screen and enter any additional data that is necessary for the submission
but was not available in Quantify FR. The check/review process following an import should be the same as if the results
were entered manually. In particular,
a. Review each FAStrack screen, click Save and Continue, and address any error messages.
b. Alternatively, download all of the submission data using the Bulk Data Export feature. Users can make any
necessary edits to the data in that file, and then import the updated information when finished.
11. Submit the results as normal
12. To make changes to the FAStrack Set and re-import it into FAStrack:
a. Go to the appropriate FAStrack Set in Quantify FR
b. Select the Unlock button within the FAStrack Set
c. Make appropriate changes to the FAStrack Set
d. Select the Launch button in the FAStrack Set
e. Go to the appropriate Plan in FAStrack
f. Select View Quantify FR Import Results
g. Select Re-import on the upper left hand side of the screen.
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FR Import for a FAStrack Set for Liability Sensitivities

There are two methods for setting up your FAStrack Set, choosing which to use depends on the set up of your FAStrack
submission.
• If you have a traditional (i.e., non-granular / GDR) valuation:
1. The Sensitivities tab of the NPBC VRS should be used to report the liability sensitivities. See the Liability
Sensitivities section for more information on this.
2. In your FAStrack set, select the VRS above as the Main Scenario. There is no need to select any additional VRSs
as sensitivity scenarios because the Main Scenario contains all of the liability sensitivity information that will be
imported into FAStrack.
• In FAStrack, you should ensure that you have matching sensitivities as were set up in FR. The example
FAStrack submission Admin options below assumes that Discount Rate, Salary Increase Rate and Pension
Increase Rate were selected on the Sensitivities tab of the VRS:
• If you have selected to Collect Sensitivity to Expense for the Year (example below) or Service Cost Plus
Interest Cost), these sensitivities will be calculated by FAStrack automatically if either “Standard Single Rate”
or “Standard Single Rate – Collect Cashflows” is selected as the Discount Rate Methodology in the FAStrack
submission Admin options:
3. Lock your FAStrack Set when it is ready for import.
Note that the above method can be used if you are using the Granular Discount Rate in FR and have “Granular - Collect
Average Discount Rates Only” or “Granular - Collect Cashflows Only” selected in your FAStrack submission Admin
options but are NOT collecting sensitivity to Expense for the Year or Service Cost plus Interest Cost. In this situation, the
liability sensitivities can be imported because full Pension expense sensitivity calculations are not needed in FAStrack
(FAStrack will not automatically calculate the sensitivities on Expense for the Year or Service Cost plus Interest Cost for
“Granular - Collect Average Discount Rates Only” or “Granular - Collect Cashflows Only” options).
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• If you have a valuation that utilizes the Granular Discount Rate AND are collecting sensitivities to Expense for the Year or
Service Cost plus Interest Cost:
1. The Sensitivities tab of the NPBC VRS should NOT be used to report the liability sensitivities. See step 5 in the
Setting up a FAStrack set in Quantify FR (local actuary) section for more details.
2. You need to set up separate Valuation Report Scenarios to cover each sensitivity scenario. Full Pension Expense
sensitivities are not calculated in the sensitivities section of the Internal Worksheets. By creating separate VRSs for
each sensitivity scenario, you are generating all of the Pension Expense information for each and that will allow the
sensitivity information to be imported into FAStrack correctly
3. When you are done running and checking your Original and Sensitivity VRSs, you may select them in your FAStrack
set under the Main Scenario and Sensitivity Scenario dropdowns respectively (example below):
4. Launch the FAStrack Set so it is ready for FR Import in FAStrack.

5. In FAStrack, verify that the Admin options are correctly set up. For the above example, the screenshot below shows
that the FAStrack submission is using a Granular discount rate method (no costs or liabilities calculated), is
collecting sensitivity to Expense for the Year and only has sensitivity to discount rate selected.
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6. Save the Admin options after any changes are made and then run FR Import and select the appropriate FAStrack
set.
Things to Note
1. For an NPBC FAStrack Set in Quantify FR, if the main Valuation Report Scenario is based on a disclosure that was an
initialization, the total liabilities that will be imported into FAStrack will be imported into the active liabilities field. The
liability fields in FAStrack should be manually overwritten with the correct liability amounts.
2. When the fiscal year end date differs from the liability valuation date, the liabilities imported into FAStrack are prorated
based on the active and inactive statuses of the liabilities as of the liability valuation date.
3. The asset allocation in FAStrack assumes that the equities, bonds and other assets entered into the Quantify FR Asset
Scenario will flow through to the FAStrack asset allocation as the first class of each of the equities, bonds, and other
assets fields in FAStrack respectively.
4. Users should be careful to specify how the Administrative Expense assumptions should be handled in Quantify FR and
in FAStrack for each client.
5. Users should also visit the FAStrack home page:
https://wtwonline.sharepoint.com/sites/FAStrack/
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Quantify Financial Reporting – Export to Swift
EXPORTING QUANTIFY FR RESULTS TO SWIFT

Overview
Swift is an Excel-based software tool designed and used by WTW associates for forecasting retirement plan cash and
accounting costs.
Consultants using Quantify FR to calculate their annual results for Pension Funding (U.S. only) and/or Accounting (Pension or
OPRB, under US GAAP or IAS 19) can import these results into Swift. This automated process significantly reduces the
onerous task of manually entering all initial data into Swift.
The transfer of the initialization data from FR to Swift is accomplished by using the Swift Data Transfer (SDT) tool inside of
Quantify FR. The SDT tool creates xml files containing the relevant results from specified FR scenarios which can be
downloaded to a mapped network drive and then used to import the results into Swift.
After importing into Swift, populated entries can be edited manually if desired, and some additional entries will be required
before producing a complete forecast from Swift.
Using the Swift Data Transfer (SDT) tool

To create a New SDT, follow these steps:
1. Open the Quantify project for the client and select Financial Reporting
2. Select Add Item and choose “Swift Data Transfer” from drop-down box
a. Click New
b. Name the new SDT and optionally enter a description
c. Enter a Fiscal Year Begin Date (for Accounting NPBC type) and/or a Plan Year Begin Date (for a US Funding
Type)
[Insert title
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Quantify Financial Reporting - Export to Swift
d. Click Ok
3. After the tool opens, select the Valuation Report Scenario (VRS) tab, and click the Add button. A screen will appear with
a grouped list of all locked VRSs for all Plans of the current Client which meet the following criteria:
a. Purpose is US Funding and Plan Year Begin Date (PYBD) matches the PYBD entered in the creation dialog box
(no US Funding VRSs will be displayed if the PYBD was not entered in the creation dialog box), or
b. Type is NPBC, Purpose is FAS Pension, FAS OPRB, or IAS 19 Rev 2011, and Fiscal Year Begin Date (FYBD)
matches the FYBD entered in the creation dialog box (no NPBC Type VRSs will be displayed if the FYBD was not
entered in the creation dialog box)
4. VRSs can be selected for data transfer by highlighting (multiple VRS can be highlighted at a time) and clicking the
“Select” button. The selected VRSs are added to a displayed grid after each selection.
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Quantify Financial Reporting - Export to Swift
5. Additional groups of VRSs can be selected by clicking “Add” again and following the process outlined above. In addition,
VRSs can be highlighted and removed from the grid by clicking the “Remove” button.
6. Once all of the desired VRSs have been selected, select the Launch button in the upper left hand corner of the screen.
Upon successful completion the SDT will lock and display the xml files containing the individual VRS results on the
Reports tab.
7. From the Report tab each xml file can be saved to a local drive or to TCT Online via the “Download XML to Network
Drive button or “Download XML to File Location (TCT Online)” button respectively to be accessible for import into
Swift.
Things to Note
1. The Swift Data Transfer will be invalid (will not launch) unless at least one US Funding VRS is selected if the Plan Year
Begin Date was filled in on the SDT creation dialog box.
2. The Swift Data Transfer will be invalid (will not launch) unless at least one NPBC type VRS is selected if the Plan Fiscal
Year Begin Date was filled in on the SDT creation dialog box.
3. If a selected NPBC type VRS includes mid-year events, only the results prior to the mid-year event will be included in the
resulting xml file for that VRS. A warning message is provided if a VRS is selected which includes mid-year events.
4. All VRSs must have a Fiscal or Plan Year that begins in 2012 or later.
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Quantify Financial Reporting - Importing from FAStrack, Channel or Swift
IMPORTING FROM FASTRACK, CHANNEL OR SWIFT

Overview
The Bulk Import feature provides client teams with an automated solution to bring information and values from FAStrack or
Channel back into Quantify FR.
The functionality involves two separate elements:
1. Exporting from FAStrack or Channel - standard reports exist in Channel and FAStrack which generate the relevant
standard Excel-based data extract for subsequent importing into Quantify FR. The report template in Channel can also
alternatively be downloaded and used locally with Swift to generate the required standard data extract.
2. Importing into Quantify - a Bulk Import object exists in Quantify FR where the user selects the output file generated from
Channel/FAStrack and the relevant import options and then launches the import.
Client teams can use this functionality to import asset, liability or calculated financial reporting results
Common client team situations in which this functionality may be helpful
There are a variety of situations in which client teams may elect to use this functionality as an efficient method of
transferring information from other accounting applications into Quantify FR. These situations include, but are not limited
to:
1. A client team where preliminary disclosure numbers were calculated in Quantify FR and uploaded to FAStrack, but
where the final numbers were subsequently adjusted by the coordinating team in FAStrack. The client team can use
the Bulk Import functionality to import the final reported disclosures from FAStrack back into Quantify as the starting
point for the following year calculations in FR.
2. A client team which uses Quantify FR to calculate NPBC but uses Channel or Swift for year-end disclosure
reporting. The client team can use this functionality to either (a) import the year-end asset and liability data from
Channel or Swift into Quantify and use Quantify FR for year-end disclosure calculation and reporting purposes or (b)
import the final reported disclosures from Channel back into Quantify as the starting point for the following year
NPBC calculations in FR.
3. A client team that wishes to start using Quantify FR for the first time and has prior year disclosure results in
FAStrack or Channel that they would like to be able to transfer in an automated efficient manner for use as the
starting point for financial reporting calculations in Quantify.
4. A new client with a large number of plans where the prior year disclosure information provided by the previous
actuary is in Excel or some other electronic format that can be manipulated in Excel. The client team could use this
functionality to download a dummy template with the requisite number of plans from either FAStrack or Channel and
then populate the template for all plans in a single Excel column by column template and import to Quantify (rather
than manually creating and typing into Quantify the required inputs into the individual initializations for each
plan).Create a Report Document by first generating a Client Report from Quantify and then saving the downloaded
Word 2010 file. Make your edits to this downloaded file, making sure not to change any formatting.
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Generating the output file from FAStrack

If you are not familiar with FAStrack reports you can learn more about this in the document below:
https://wtwonline.sharepoint.com/:b:/r/sites/FAStrack/Shared%20Documents/How%20To%20Manage%20and%20Run%
20Reports.pdf
1. Open the client in FAStrack, click Reports

2. Select “Data” in the Report Type dropdown
3. Select “Quantify FR Export FAS” (available for FAS submissions) or “Quantify FR Export IAS” (available for IAS
submissions) from the list of available reports for that client in the Report dropdown
4. Select the submissions you wish to include in the export and click “Run Report”
5. Save the generated report in a network or TCT location where it can be subsequently imported into Quantify
6. Open and review the generated report and make any adjustments (if any required). Note, you will only be able to
make edits to cells that are designated available inputs. All other areas of the tab are locked down to maintain the
integrity of the tab structure for the subsequent import into Quantify.
7. In particular you should verify that the “Local Quantify FR Plan Name” in row 7 matches the plan which you intend
using in Quantify for the subsequent import step. This is automatically populated in the report based on the
underlying local plan linked to the FAStrack corporate plan. If this link is not correctly in place for your client, then you
should ask for this link to be updated. Alternatively, you can type in the relevant local plan name as a workaround
(but this is a step that would need to be repeated every time you run the report) before importing the file into
Quantify.
Generating the output file from Channel

If you are not familiar with Channel reports you can learn more about this in the “Reports” section of the document below:
https://wtwonline.sharepoint.com/sites/SwiftChannel/SitePages/Run-a-Report-in-Channel.aspx#3-create-and-run-a-report
1. Open the monitoring scenario in Channel, go to the Monitor tab and run a report in the standard process (Actions |
Run Reports | Select Date | Select Module)
2. Select “Quantify FR Export” as the report
3. Select the plans you wish to include in the export and click “Generate Report”
4. After the report has run, go to Manage | Reports and save the generated Excel report in a network or TCT location
where it can be subsequently imported into Quantify.
5. Open and review the generated report and make any adjustments (if any required) or enter any additional information
that you would like to import to Quantify but which is not available from Channel e.g. membership data. Note, you will
only be able to make edits to cells that are designated available inputs. All other areas of the tab are locked down to
maintain the integrity of the tab structure for the subsequent import into Quantify.
6. In particular you should verify that the “Corporate Channel Plan” name in row 5 matches the “Channel Plan Name” for
the relevant local plans which you intend using in Quantify for the subsequent import step. You can update the
“Channel Plan Name” for your local plan by opening your local client in Quantify, clicking on the Plans tab, selecting
the relevant plan and clicking the “Update Channel Plan Name” button and entering the relevant plan name.
Alternatively, you can type in the relevant “Local Quantify FR Plan” in row 8 as a workaround (but this is a step that
would need to be repeated every time you run the report) before importing the file into Quantify.
Generating the output file from Swift

• Download the relevant Quantify FR Export template (IAS or FAS) from any client in Channel
• Use this downloaded template to generate the FR output file from your Swifts in the same manner as any other
Standard Template supported by the Swift - Exhibit Utility. After the report has been generated follow steps 4. and 5.
from the corresponding Channel workflow.
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Importing into Quantify FR

1. Open Quantify project for the client and select Financial Reporting.
2. Click Add Item button at top
3. Select Bulk Import from list of items to add
a. Click New
b. Name the new scenario (note, this will be the default name for any new imported objects created in Quantify
FR when this Bulk Import is launched)
c. Enter description (optional, but recommended)
d. Select Type = Initialization or Standard
e. Select Purpose = FAS or IAS 19 Rev 2011 (Note: you can import FAS Pension, FAS OPRB, or IAS Rev
2011 valuation data.)
f. Click OK
4. If Import Type = “Initialization” (note, if you selected type = standard in 3.d. above ignore this step and go to step 5)
a. Click the “Select Import File from File Location (TCT Online)” or “Select Import File from Network
Drive” and browse to the relevant location to select the output file generated from FAStrack or Channel.
b. Once you have selected a valid output file, the “View Import File” button becomes enabled (allowing you to
review or verify the selected file) and the Bulk Import object is valid and ready for launch
c. The only additional import option for initialization relates to Liability Data at the disclosure date. If you wish
for the system to create liability results for each plan (e.g. to enable creation of NPBCs on top of the
imported disclosures without needing to create a liability run in Quantify Liabilities) at the same time as
creating initializations for each plan during the import process, leave the Import Liability Data checkbox
checked. If you only wish to create initializations (e.g. you will have a fresh liability run in Quantify Liabilities
for the purposes of NPBC), then you may wish to uncheck this option.
d. Click Launch
e. Once the Import process is complete, the Bulk Import object will be locked and a Results tab will appear
providing confirmation of all the items imported and objects created which are now available for use in
Quantify FR. All newly created initializations and liability results will also be automatically added to the
project and can be seen or opened from the Project View. Any errors that may have occurred during the
import process will also be documented here for review
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5. If Import Type = “Standard” (note, if you selected type = initialization in 3.d. above you can ignore this step)
a. Click the “Select Import File from File Location (TCT Online)” or “Select Import File from Network
Drive” and browse to the relevant location to select the output file generated from FAStrack or Channel.
b. Once you have selected a valid output file, the “View Import File” button becomes enabled (allowing you to
review or verify the selected file) and the Bulk Import object is valid and ready for launch
c. For a standard Bulk Import there are a number of different options available to specify what type of
information you need imported from the template and what objects you need to be created in FR
i. Import Liability Data: The option to create liability results for each plan as at the fiscal year-end
(based on the information and liability values in the template) is checked by default when a new
Bulk Import is created. When this checkbox is selected, additional options exist for Quantify to also
create separate experience and assumption liability results and additional liabilities for any
sensitivity values populated in the template for each plan.
ii. Import Asset Data: You should check this option if you wish Quantify to create new Asset
Scenarios for each plan, based on the asset and transaction details and values in the selected
template file. When you check this option, an additional tab will appear whereby you will need to
specify the prior NPBC scenario for each plan (the new Asset Scenario for each plan will be built on
the Asset Scenario associated with each NPBC scenario)
iii. Create Disclosures: You should check this option if you wish Quantify to create new disclosure
Valuation Report Scenarios for each plan automatically, at the same time as importing the
underlying liability and/or asset data inputs for those disclosures. When you check this option, an
additional tab will appear whereby you will need to specify the prior NPBC scenario for each plan
(upon which the new disclosure scenario for each plan will be built).
d. Click Launch
e. Once the Import process is complete, the Bulk Import object will be locked and a Results tab will appear
providing confirmation of all the items imported and objects created which are now available for use in
Quantify FR. All newly-created liability results and/or assets scenarios and/or disclosure Valuation Report
Scenarios will also have been automatically added to the project and can be seen or opened from the
Project View. Any errors that may have occurred during the import process will also be documented here for
review.
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Quantify Financial Reporting – One-Stop Accounting Valuations
ONE-STOP ACCOUNTING VALUATIONS

Overview
Quantify FR automates the workflow associated with one stop valuations. A “Launch One Stop” button is available for IAS19
rev2011, FAS Pension and FAS OPRB disclosure scenarios that not only launches the disclosure but also creates an NPBC
scenario on top of the disclosure and launches that NPBC too. A primary benefit of this automation is assurance that the
NPBC scenario for the upcoming year uses the appropriate relevant values and settings from the preceding disclosure. This
can be done for both individual Valuation Report Scenarios as well as for bulk scenarios.
One-stop launch of a disclosure scenario

The prerequisite is that you have created a valid disclosure report scenario for the current financial year end. When you now
press the button “Launch One Stop” Quantify performs the following steps:
1. It launches the disclosure scenario.

2. It creates an NPBC scenario on top of the disclosure and adds an Experience event where the liabilities are automatically
set to match the prior disclosure liabilities, including any overrides. The Asset Scenario in the NPBC scenario will
automatically default to that selected in the prior disclosure.
3. All relevant override and client report parameters carry forward automatically into the NPBC scenario from prior scenarios.
4. System launches the NPBC scenario.
5. Upon completion, the NPBC scenario is opened.
Generated reports
In addition to the report documents which a NPBC report scenario usually generates you will now see another report: the
Internal Worksheet of the prior disclosure VRS. This makes the review simpler since you do not need to open the disclosure
VRS.
Please note that the display of this report is controlled by a new checkbox that has been added to the “Client Report
Parameters” tab of a NPBC VRS. If a NPBC scenario is created by a One-Stop launch this checkbox is checked by default.
But you can also check this checkbox manually before you launch a “normal” NPBC to get the Internal Worksheet of the prior
disclosure scenario.
[Insert title
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Quantify Financial Reporting - One-Stop Accounting Valuations
Override fields for disclosure scenarios

The list of available override fields for a liability result has been expanded. If you click into the row for liability results you will
now see four new fields. Please note that the fourth field “Expected benefit payments non-trust” will only appear if the plan has
Funded Type = “Funded/Other Reserves”. The values entered into the first three rows will be carried forward into the
corresponding override fields of the liability result of the generated NPBC scenario, while the fourth field (if the plan is split-
funded) will flow into the row “Expected Benefit Payments from Other Company Reserves and/or Trusts”.
Change to expected rate of return for US GAAP disclosure scenarios

For US GAAP valuations, refer to the FAS Disclosure Workflow Guide on pages 64-65 for details on how to change your
expected rate of return in a one-stop launch.
Sensitivities tab for US GAAP disclosure scenarios

The sensitivities tab has been added to the disclosure VRS for US GAAP and any sensitivity liabilities you have selected in the
disclosure tab will automatically flow through as the initial default selection in the corresponding variation in the following
NPBC tab (similar to IAS19 rev2011 functions).
Selection of valid liability results

Since the liability result of the final event of the disclosure is also used in the first event of the generated NPBC it must be valid
for both scenarios. To ensure this, validation rules for the Selected Valuation Date have been implemented which could result
in a situation where a normal launch of the disclosure scenario is possible but a “One Stop” launch will fail. This applies not
only to the liability result of the final event but also to all liability results selected on the Sensitivities tab. A One Stop launch is
possible only if all of the following conditions for the selection of the valuation date are met:
• The Selected Valuation Date selected for the final event liability result is on or after the prior Fiscal Year End date.
• If the Selected Valuation Date for the final event liability result is not = Effective Date or not = Effective Date + 1 day then
there must be another Valuation Date in the selected liability result after this one.
• If the Selected Valuation Date for any liability result selected on the Sensitivities tab is not = Effective Date or not =
Effective Date + 1 day then there must be another Valuation Date in the selected liability result after this one.
Bulk disclosure scenarios

The same functionality exists for bulk disclosure scenarios and works similarly to the One Stop launch for an individual
Valuation Report Scenario: all disclosure scenarios are launched, and the system generates a new Bulk object for NPBC
scenarios which are based on the disclosures and launches them as well. (The Bulk scenarios themselves are not affected by
this process, i.e. you still have to lock them if you wish.)
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Quantify Financial Reporting - One-Stop Accounting Valuations
However, there is an important difference between “Launch Selected” and “Launch One Stop”: the latter button will launch ALL
disclosure scenarios, regardless whether they are selected or not.
Please also note that the override fields (see section above) cannot be populated on the UI of the Bulk object. This must be
done in the individual disclosure scenarios.
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Quantify Financial Reporting Reconciliation of Results in FAS Reports
RECONCILIATION OF RESULTS IN FAS REPORTS

Overview
The following reconciliations of accounting measures appear in various client reports as detailed below:
• Reconciliation of NPBC & Funded Status (see detailed information below chart)
• Reconciliations of PBO & Assets
• Reconciliation of Funded Status (and other disclosure items)
Reconciliation Report Section Report Style Word v. Excel VRS v. CRS

NPBC and Funded Comments on NPBC only for US Word only VRS only
Status from FYB Results plans
PBO and FVA from Section 2 NPBC only for US Word only VRS and CRS
FYB plans
PBO and FVA from Section 2 NPBC One-stop Word and Excel VRS and CRS
FYE and Disclosure
Funded Status from Section 2 – NPBC One-stop Word only VRS only
FYE landscape schedule and Disclosure
Definitions:
• FYB – Fiscal Year Begin

• FYE – Fiscal Year End
• VRS – Valuation Report Scenario – run for a single plan
• CRS – Consolidated Report Scenario – consolidates results from selected VRSs
Note: all calculations supporting the reconciliations presented in the client reports are developed in the Internal
Worksheets.
Reconciliation of NPBC and Funded Status

The NPBC Internal Worksheets from FAS Pension and FAS OPRB VRSs include reconciliations of net periodic
benefit cost and funded position for US plans. The reconciliations are from the prior NPBC VRS to the current
NPBC VRS.
The reconciliations are displayed in the NPBC only client report for US plans and are automatically included
without any changes to the current workflow for producing client reports in FR. NPBC Internal Worksheet section
9.2 summarizes all of the calculations that support the reconciliations. There is a column that displays references
for all calculated values from the prior disclosure and this NPBC that are used in the reconciliation. Please also
see the user notes in the client reports and Internal Worksheets which warn of situations not handled by the
automated reconciliation calculations.
Flow of Calculations
The calculations of changes in the net periodic benefit cost and funded status from the prior NPBC to the current
NPBC follows the flow shown below and is documented in the Internal Worksheets as noted above and is the
same for both one-stop and two-stop valuations.
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Prior NPBC Prior Disclosure Current NPBC
•Reconciliation •Expected results •Any additional

starts with results with zero asset gain/loss is
from final event gain/loss are introduced
determined •New data is
•Asset gain/loss is reflected for two-
introduced stop
•New data is •Further changes
reflected for one- in NPBC and
stop Funded Status
•Further changes are measured for
in NPBC and each NPBC event
Funded Status at FYB
are measured for •All changes from
each Disclosure disclosure and
event NPBC are
combined
Note that the events in the prior disclosure scenario do not need to be repeated in the current NPBC.
Only separate and distinct events need to be entered in the current NPBC. The NPBC valuation accesses the
events and other information from the prior disclosure for purposes of the reconciliations.
If the preference is to remeasure events reflected in disclosure based on the new data, then you need to follow
these steps for the reconciliation to work correctly:
• Copy the disclosure scenario, remove the events being remeasured and launch
• Use this revised disclosure as prior for the NPBC
• Add the events being remeasured along with any new events
Special Situations
As noted above, all this information is automatically created by the system. However, there are situations where
this does not work (i.e. the sum of the effects is not the difference between the starting and ending values) or
where the reconciliations should be closely reviewed for how effects have been bucketed and modified as
appropriate. A comprehensive list of such situations is given at the end of the exhibit “Change in net periodic cost
and funded position” in the NPBC only client report. Any balance calculation problems are identified in the
Internal Worksheet 9.2. Following are the situations to consider:
• Possible calculation issues:

o Use of an externally calculated asset smoothing method (or the use of a market corridor with the
Adjusted Market Value method) for the prior NPBC – which may cause an error in the split between
the expected and unexpected investment experience effect in the NPBC reconciliation
o Prior disclosure scenario was an initialization scenario, therefore needed values for expected
results may be missing
o Result overrides were used (in prior NPBC, prior disclosure or current NPBC scenario), which will
create a balance error in the amount of the total impact of all override events.
▪ This is because there is no way to attribute the impact of the override to another event or
column in the reconciliation calculation.
▪ Liability overrides are attributable to events and will be incorporated accordingly.
o Mid-year events were valued in the prior or current NPBC scenario, which may change how effects
are bucketed
• General issues that may affect how you value changes:
o Material changes in plan demographics since the prior year (if assumption changes were measured
before demographic changes, review whether allocation between experience and assumption
changes is reasonable)
o The plan includes traditional formula benefits and offers lump sums or includes hybrid formula
benefits that are converted to annuities, and thus the valuation reflects the updated IRC § 417(e)
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required assumptions; the actuary may wish to consider identifying the effect on a separate line if
significant.
Additional Notes
The calculation of the “Next Year’s Estimate” in section 12.2 of the disclosure worksheets can be adjusted by
using various overrides as outlined in the “Estimating Next Year's Expense” online help topic. Any liability
overrides utilized for the next year estimate fields will be included as part of the disclosure experience column in
the reconciliation of NPBC and Funded Status – refer to column (ii) in section 12.2.
There is an option to include the prior disclosure Internal Worksheet in the NPBC Report tab. This may make it
easier to find the values needed to review the reconciliation.
Calculation Example
Let us invite you on a guided walk-through one of our reporting exhibits. Today we will take a closer look at the
NPBC Only Report, in particular exhibit “Change in net periodic cost and funded position” in the “Comments on
Results” section.
At the top of this exhibit you see some guidance on how to use this exhibit. Though its use is optional (you can
suppress the display of this section by simply using a Client Report Text object), it is recommended by Actuarial
Leadership. It gives a concise overview about the sources of any changes in cost and funded status and will be
helpful to explain to your client the current financial status of their benefit plan.
(Screenshot taken from a sample report – no actual client data)
Remark: The good news is that you get all this information “for free” – i.e. without doing anything special
with the prior Disclosure scenario (DSCL). Please avoid the error of repeating the events of the prior
DSCL in the NPBC. FR knows what the prior disclosure events were and effects of those events when
the NPBC is created.
If the preference is to remeasure events reflected in disclosure based on the new data, then you need to
follow these steps for the reconciliation to work correctly:
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• Copy the disclosure scenario, remove the events being remeasured and launch
• Use this revised disclosure as prior for the NPBC
• Add the events being remeasured along with any new events
The example we use for our walk-through uses a simple setup: the prior Disclosure has an Experience and an
Assumption event, and the NPBC built on top of it has an Experience-Assumption and a Rate of Return event.
Later we will discuss another example with a more complex setup.
The starting point of our tour is section 12.2 in the Internal Worksheet of the prior Disclosure report. This section
provides a “glimpse into the future” of the plan, based on current knowledge.
The first two columns reflect “the past”, which means all calculations were made based on past assumptions and
valuations. Then you will see a column for each event in your Disclosure VRS.
Column I Expected: the next year NPBC estimate based on liabilities selected in the final event of the
prior NPBC rolled to the FYE and expected assets
Column J Asset GL: the next year NPBC estimate based on liabilities selected in the final event of the
prior NPBC rolled to the FYE and actual assets. The difference from the prior column to this column is
the impact of the actual assets.
Column K Experience: the next year NPBC estimate based on liabilities selected in this disclosure as of
the final event and actual assets. The difference from the prior column to this column is the impact of
any data update reflected at disclosure time.
Column L and after: the next year NPBC estimated based on liabilities from each event recognized at
disclosure and the actual assets. The difference from the prior column to this column is the impact of
each disclosure event.
This provides insight into how the various cost components are affected by these events. However, we must not
forget that these calculations are only based on current assumptions (as of the Fiscal Year end date), i.e. they
cannot reflect the future development of the plan.
Once the NPBC report is generated we usually know more about the plan. If you follow the two-stop approach
then you have evaluated the plan status with updated membership data, possibly updated Asset information and
also with actual assumptions, as of the Fiscal Year beginning.
Remark: For sake of simplicity we intentionally decided to present a one-stop setup of the sample
reports below. Where appropriate we will provide additional comments for a two-stop setup.
Now look at section 9.2 of the NPBC Internal Worksheet. Here you see exactly the same numbers as in the
above-mentioned report exhibit “Change in net periodic cost and funded position” – but with more guidance how
these numbers are calculated.
Section 9.2.A. gives a summary of the expense:
Column I Prior Disclosure: the Next Year NPBC Estimate from the final event from the prior disclosure
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Column J Asset GL: the impact of any asset gain/loss recognized at the beginning of the year using
liabilities as of the prior disclosure at fiscal year end. There would only be an impact if assets were
revised from what was used in the prior disclosure.
Column K Experience: the impact of using the liabilities selected in the Experience event. The difference
from the prior column to this column is the impact of any data update reflected in the NPBC valuation.
Column L and after: the expense based on parameters from each event. The difference from the prior
column to this column is the impact of each NPBC event.
To help you to follow the calculations we have attached a screenshot of section 12.2. of the Internal Worksheet of
the Disclosure report at the end of this document.
In the following we will walk through the first four items of exhibit 9.2.B., which covers the Net Periodic Benefit
Cost. Further below, in subsection 9.2.C, we will do the same for the Funded Status.
1. Discussion of item 9.2.B.2

The amount of -1,622,124 is the difference between the prior NPBC and an estimated NPBC calculated
at disclosure time. The latter calculation is based on the next year estimate of the Normal Cost (from the
Liability Result of the prior NPBC) and the roll-forward of the MRVA (Market-related Value of Assets).
You will find the details of this calculation in column (i) of the appendix (which is, as we said above, a
screenshot from section 12.2 of the Internal Worksheet of the Disclosure report). The result of
16,410,886 is displayed in item 12.2.E.3 (column = “Expected”). Item 9.2.B.2 is just the difference
between 16,410,886 and 18,033,010 (the latter the “real” prior NPBC, see item 9.2.B.1).

We jump to item 9.2.B.4 and take a closer look at the asset side of the plan. While in column (i) of
section 12.2 we used the expected value of plan assets for all asset-related calculations now, in the
column (ii), we use the actual Market-Related Value. This has two effects. First, we get a different return
on assets. In our example this difference of item 12.2.D.3 between the two columns amounts to 54,746.
Second, since now the overall G/L has changed, we get a difference of the amortization of the G/L. This
gives an additional amount of 55,441 in item 12.2.D.6.. The total of 110,187 is the unexpected
investment experience displayed in item 12.2.E.3 of this column. Again, in the case of a two-stop
approach this might be increased (or decreased) by the amount from item 9.2.A.2. “Asset GL”.

Now it becomes more interesting since we are taking into account experience effects. The next column
in section 12.2, labelled “Experience”, shows an NPBC calculation based on the values of Normal Cost,
PBO and FVA as at disclosure time. The amount of 4,583,191 (see item 12.2.E.3) is taken from there. If
we had followed a two-stop approach in our example then this value would have been increased by
additional experience effects as shown in item 9.2.A.2 ”Experience”.

Finally, it comes to assumption changes. First, in the “Assumption” column of section 12.2 you see an
NPBC calculation based on the Interest Rate and the Expected Rate of Return at Disclosure time. The
resulting change amount of -1,403,592 is displayed in item 12.2.E.3. It is adjusted by the change of the
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rate of return at NPBC time (i.e. at the time the NPBC report is created) with an amount of 604,896. This
result is shown in item 9.2.A.2 “RateOfReturn”. Both together give the total assumption change amount
of -798,696.
When you add the amounts of the items discussed above to the prior NPBC value (= 18,033,010) then you will
end up with the current NPBC value of 20,305,568.
Next, we will walk through the Funded Status. Since you are now more familiar with the notation of the items in
the reports, we will abbreviate them. For example, 9.1.A.7.(i) means item 9.1.A.7 in the first column of the current
Internal Worksheet. If we refer to an item in another worksheet, for example the Internal Worksheet of the prior
disclosure report, we use the notation “Disclosure 6.2.D.”
NPBC Internal Worksheet section 9.2:
5. Discussion of item 9.2.C.2

Here you take the total of service cost, interest cost and expected return on plan assets from the prior
NPBC and add the actual benefit payments (both trust and non-trust). The amount of 38,890,548 is the
“Expected” component of the change of the Funded Status.

This is the full actuarial G/L minus the assumption changes, i.e.: the experience G/L on the PBO. In our
example the amount of -26,326,770 is just the difference between the expected PBO of 751,651,223
(calculated in Disclosure 6.1.B.16) and the actual PBO of 777,977,993 (calculated in Disclosure
4.2.E.9). If we had, for example, remeasured the PBO at NPBC time (two-stop approach!) then we
would see an additional amount from item 4.3.C (which in column “Experience” shows the difference of
the PBO amount from the Experience event and the PBO amount from the Assumption event) to be
added to this item. For other possible sources of adjustments please look at the user note of item
9.1.A.4.(i).

The unexpected investment experience amount of -2,526,750 is just the difference between the actual
and the expected return on assets. The former amount is displayed in item 3.2.A.9.e while the latter was
calculated in item 8.2.C.7 of the prior NPBC report. In our example we have 35,028,775 – 37,555,525 =
-2,526,750.

The last item is the assumption changes. The amount of -2,057,738 is taken from Disclosure 6.2.D. If
we had followed a two-stop approach and had used, for example, a different interest rate in the NPBC
report then we would see a non-zero amount in item 6.C to be added.
As before with the Net Periodic Benefit Cost we will get the actual Funded Status when we add these
components to the start value from 9.2.C.1.
Finally, below is an example which also includes additional events: an Amendment event, a Settlement event, a
Terminated Benefits event and an Acquisition event. All events are set up in the prior Disclosure scenario –
please remember the remark at the beginning of this document that it is not necessary to repeat the events in the
following NPBC. There is only one event in the NPBC: a change of the Asset Method to MRVA. The reason for
this setup is that the latter event is only available for NPBC VRSs.
We won’t discuss this in detail since most of these effects are self-explanatory.
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Just one remark with regard to method changes: possible causes can be the change of the method to evaluate
the plan assets from FVA to Adjusted Market Value, or the change of the amortization policy from deferred (i.e.
amortization of G/L) to immediate recognition of gains or losses, or the change of the amortization corridor. The
item “Changes in estimation techniques”, however, is not populated by the system (i.e. the default value of 0 is
hard-coded) and should be manually overridden if applicable.
This ends our guided tour through the accounting exhibits. We hope this will be useful for future discussions with
your clients and help them to better understand the economic position of their benefit plans.
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Quantify Financial Reporting – Reconciliation of Results in FAS Reports
Appendix: Section 12.2 of the prior Disclosure sample report
163
Quantify Financial Reporting – Reconciliation of Results in FAS Reports
164
Quantify Financial Reporting – Roll Forward of Accounting Results
ROLL FORWARD OF ACCOUNTING RESULTS

Overview
Quantify FR was enhanced to automate the workflow associated with basic roll forward accounting valuations, with the
addition of a Roll Forward object. The functionality is initially only available for IAS 19 rev 2011 valuations, but it is expected to
be extended to also support US GAAP valuations in a future release.
In addition to the calculation of full financial reporting and disclosures for the current fiscal year-end, many client teams in
WTW use this valuation data to roll forward and produce expected or projected disclosures for the following 3 years, typically
for smaller or less financially material plans where a full valuation is only performed every three years. This is particularly
prevalent in Asia Pacific (e.g. Malaysia, Thailand, Singapore) and there are also clients in EMEA with similar business needs.
A formal actuarial report (containing both the current year financial reporting and disclosures along with the expected
disclosures for the following three years) is typically only issued to the client once every three years.
The "Roll Forward" object in FR provides client teams with such requirements with an automated process to calculate and
report disclosure and financial reporting for up to three years of roll forward / projected results (on a zero gain / loss basis).
This functionality in FR is specifically designed for the business need above and is not intended to support assumption
changes in a roll forward year or what-if adjustments or expected employer contributions based on input from US or Canadian
funding valuations. The expected workflow for client teams needing this more advanced type of financial modelling is to use
Swift / Channel (see separate section "Exporting Quantify FR Results to Swift" for more information).
High level summary of how the feature works
1. User creates a roll forward object from the Add Items dropdown in the project view
2. On the Basic Info tab, the user selects the final NPBC scenario(s) for the current year (see "Basic Information tab"
below for more details on expected setups)
3. On the Parameters tab, the user selects how many roll forward years are required and, for funded plans, how
expected employer contributions to plan assets for the roll forward years are to be calculated
4. User clicks the Launch button and the system begins to automatically create a series of following year disclosures
and NPBC scenarios on top of the base year scenario selected on the Basic Info tab. The system then repeats this
workflow for each roll forward year specified by the user on the Parameters tab (available options are 1, 2, 3 years).
This step calculates all the results needed for the roll forward years.
5. Prior to launching the final NPBC scenario in the final roll forward year, the system checks the "Generate Multi-Year
Exhibit" check-box in the Client Report Parameters tab of the scenario. This automatically then generates an
additional multi-year exhibit of the Report tab of that scenario. Note that although this parameter was added to the
NPBC scenario as part of this feature, it can also be used independently of the roll forward object i.e. a user can
open any NPBC scenario and click this option to generate a multi-year exhibit in addition to the regular reports. This
step generates the Word report displaying all the results needed for the roll forward years.
6. If more than one base year NPBC was selected in the Basic Info tab (e.g. a client with two or more plans), then the
system will also automatically create a Consolidated Report Scenario, containing the individual scenarios for the
final roll forward year.
7. The system adds a Results tab to the Roll Forward object, detailing all the underlying disclosure and NPBC
scenarios created during the roll forward launch. These scenarios can be accessed directly from the Results tab to
check any underlying detailed calculations or can be opened directly in the project view similar to any regular
scenario.
8. The system adds a Reports tab to the Roll Forward object, with a copy of the multi-year exhibit generated from the
final year NPBC scenario (or if more than one plan, a copy of the multi-year exhibit from the consolidated scenario).
165
Quantify Financial Reporting - Roll Forward of Accounting Results
Basic Information tab - selecting the base year NPBC scenarios

On this tab the user can:
• Add the current year NPBC Valuation Report Scenario(s) which will be the starting point for the roll forward
• Add / Remove up to a maximum of 49 scenarios
• Select a user defined report order to sort the plans into the desired order if multiple scenarios are selected.
Important items to note:
➢ The NPBC(s) selected on this tab should be carefully reviewed to ensure the current year results are correct before the
roll forward object is launched and additional roll forward disclosures and NPBC scenarios are created on top
➢ All the input settings in the roll forward year calculations (e.g. rounding, scaling, percentage decimal digits to be
displayed, weighting factors, treatment of interest on service cost, use of compound interest, taxes etc.) are all carried
forward based on the corresponding setting in the base year NPBC.
➢ If you need to have sensitivity calculations in the roll forward years, you must ensure the Sensitivities tab is also
populated in the base year NPBC and that the Liability Results selected have at least as many projection years as the
number of roll forward years required for accounting.
➢ A Liability Run with Type = Projection must exist and be used in the final event of the baseline NPBC scenario. This
Liability Run must have at least as many projection years as the number of roll forward years required for accounting.
➢ The normal cost expected benefit payments and expected employee contributions in each roll forward year will come
directly from the corresponding liability projection.
➢ All baseline NPBC scenarios selected in this tab must be for the same fiscal year.
➢ All baseline NPBC scenarios must use liability results of the same liability pass purpose (i.e. all “Pension” or all
“OPRB”)
➢ For funded plans, if expected employer contributions to plan assets in roll forward years are on the basis of something
other than "Fund Benefit Payments" or "Fund P&L Cost" e.g. "% of pay plus fixed amount", then the Liability Run must
contain the relevant Employer Contribution formula specifying how employer contributions are determined in the liability
calculations (using existing functionality in Quantify Liabilities).
In addition, the NPBC scenarios in FR must have the “Use Expected Employer Contribution Amounts from Asset
Scenario or from Liability Result fields” dropdown on the Override tab set to “Liability Result” (using existing
functionality in Quantify FR)
166
Quantify Financial Reporting - Roll Forward of Accounting Results
Parameters tab
On this tab the user can:
• Select the number of roll forward years required from a dropdown. The only available options are 1, 2 or 3 years. Note
however that if you do have a particular client that needs 5 years then you can do an initial roll forward for 3 years, then
use the final year 3 roll forward NPBC in a new roll forward object and roll forward for another 2 years.
• Select how expected employer contributions for roll forwards of plan assets for funded plans should be determined. The
available options are:
o Fund Benefit Payments
o Fund P&L Cost
o Specified in Liability Run (employer contributions based on % salary or fixed amounts would be expected to use
this option - see Basic Information tab above for more details)
• Select the template to be used to generate the multi-year output exhibit from the roll forward. RSG maintains a standard
global roll forward exhibit template which will be the default template for the roll forward object but Client Report Experts in
local offices can create and upload their own custom local language output if they wish to do so.
Results tab
This tab appears after a roll forward launch has been completed. It contains a list of all the underlying disclosure and NPBC
scenarios created during the roll forward launch. These scenarios can be accessed directly from the Results tab to check any
underlying detailed calculations.
This tab is also where any error messages or issues encountered during the launch process will be documented for review by
the user.
Reports tab
This tab appears after a roll forward launch has been completed. The report is a client ready exhibit in Word format displaying
the key results for each of the roll forward years (for each plan if multiple plans were selected). The layout and style of the
exhibit is determined by the report selected by the user on the Report Parameters tab.
The expected workflow is that the user would download and append the exhibit to their main current year one-stop report as
an additional appendix.
Workflow tips
The underlying roll forward year scenarios created by the roll forward object are "regular" scenarios and function in the exact
same manner as they had been manually created by a user i.e., they can be subsequently unlocked, edited, relaunched,
copied, built upon. The primary function of the roll forward object is to provide client teams with an efficient process for
generating a series of future year disclosure and NPBC scenarios (on a zero experience gain/loss basis) to automate what
would otherwise be a time consuming and error prone task for a large number of clients (predominantly in Asia Pacific).
167
Quantify Financial Reporting – Liability Roll Forward
LIABILITY ROLLFORWARD IN QUANTIFY FR

Overview
Quantify FR has been enhanced to allow client teams to generate liability results within IAS 19 Rev 2011, FAS Pension, and
FAS OPRB disclosure scenarios. This feature was primarily designed to support client teams with triennial valuation cycles in
Canada but can be used by any client team with similar needs for rolled liabilities.
The Liability RollForward functionality in Quantify FR mirrors existing functionality in FAStrack.
High level summary of how the feature works
1. User creates Disclosure scenario, where the beginning of year NPBC includes various Liability Results on the
Basic Information and Sensitivities tabs.
2. Users creates and populates the Asset Scenario in the normal manner (as benefit payments and other
transactions will be needed for roll forward calculations). No events need to be added or liabilities selected in
the Events Grid on the Basic Info tab at this stage.
3. On the Liability RollForward tab, user selects the checkbox to “Use rolled liability results generated from FR
instead of Liability Results from Quantify Liabilities, then defines the Calculation Policies and selects the
rolled liabilities to be generated by the launch.
4. User clicks the Launch button on the Liability RollForward tab and the system generates the selected rolled
Liability Results.
5. User reviews and confirms the Generated Liability Results tab, which displays all generated liability results,
and the Summary Report tab, which includes a report with the calculations for the rolling of liabilities.
6. User selects the rolled liabilities (and all rolled sensitivities) on the Basic Information and Sensitivities tabs
and launches the Disclosure scenario (or uses the One Stop Launch button to generate the disclosure and
following NPBC scenario.
Underlying calculation methodology

When the User generates the "mini liability launch" in step 4 above, the system will automatically calculate a set of rolled
liabilities as at the fiscal year end date. The system uses all the available amounts, sensitivities, assumptions and membership
data from the beginning of year prior NPBC scenario, along with the cashflows from the Asset Scenario and user defined roll
forward inputs to roll forward the main results and also all sensitivity runs from the beginning of the year to the end of the year.
These calculations mirror the corresponding roll forward calculations in FAStrack. In particular, the interpolation / extrapolation
methodology which FR uses to calculate the effect of year-end assumption changes mirrors that used in FAStrack.
Full details of the calculation formulae, including more details on the interpolation / extrapolation methodology, can be found in
the detailed calculation worksheet on the Summary Report sub-tab of the Liability Rollforward tab. This output is automatically
generated every time a "mini liability launch" is generated.
Important items to note:
➢ This is an optional feature. This feature is not expected to have any impact on client teams who do full annual liability
valuations in Quantify Liabilities (QLI) each year. This functionality is a new optional workflow for clients teams who do
not have "regular" liability results available each year from QLI. Client teams can switch between using "rolled" FR
generated liabilities or "regular" QLI generated liabilities as and when needed.
➢ Year-end assumptions changes can only be made for those assumptions where corresponding sensitivity results were
included in the beginning of year NPBC scenario. If no sensitivity liabilities were provided in the prior NPBC for a
particular assumption e.g. salary increases, then the corresponding year-end assumption update field on the Liability
Rollforward tab will not be editable.
168
Quantify Financial Reporting – Cost Allocation
COST ALLOCATION
Overview
There is a need in many offices and countries for cost allocation work i.e. a single plan exists, with a single aggregated set of
accounting results – but the client asks for the plan results to be split in some agreed manner to allocate the costs across
various business segments or subsidiaries.
The table below highlights the wide variety of different approaches adopted by WTW clients globally for these purposes.
Teams are encouraged to leverage Quantify to the fullest extent to support their client specific allocation process. This
summary highlights the system functionality available to support allocations.
PBO / DBO Based on actual split from the most recent underlying full liability valuation
Service Cost Based on members' actual divisions

Aggregate amount split by salary
Aggregate amount split by salary weighted by future service
Average salary or average PBO/DBO weightings might alternatively be used.
Interest Cost Calculated based on division of PBO/DBO/BP/SC

Aggregate amount split by share of PBO/DBO
Member Contributions Based on actual member making contribution

If % of salary based, split by member and their salary
If fixed $ amounts, split by salary
Benefit Payments Based on members' actual divisions

Aggregate amount split by share of PBO/DBO
Assets Based on stand-alone split of assets maintained

Based on applying overall asset coverage proportionately across each division's PBO/DBO
Based on proportion of PVFB for each division
MRVA based on FVA split
EROA Based on share of assets

Based on share of PBO/DBO
Gain/Loss Aggregate amount split by share of PBO/DBO

Based on proportion of PVFB for each division
Based on unfunded PBO/DBO of each division
Based on the unrecognized gain/loss of each division
Based on average life expectancy of each division
Expenses Based on division assets as % of total

Based on division's total salary or other participant statistic, such as head count
Based on division's PBO/DBO as % of total
Average salary or average PBO/DBO weightings might alternatively be used
Additional complications and considerations occur where a full liability run at the effective date is not available and instead
liabilities have been rolled up from an earlier full valuation.
Support for Cost Allocations within Quantify FR

The lack of any widely used common approach(es) in relation to cost allocations across WTW clients globally has meant that
none of WTW's global accounting systems currently have an automated system solution for producing full cost allocation
reporting. Client teams doing cost allocations are currently using their locally designed Excel spreadsheets for these
calculations.
Quantify FR does, however, have a number of features and functionality that may be of interest to client teams looking to
automate elements of this work or to refine their current process to integrate more efficiently with Quantify FR.
169
Quantify Financial Reporting - Cost Allocation
"Top-down" cost allocation

For client teams doing "top down" cost allocations, i.e., using Quantify FR to calculate the results for the overall plan and then
looking to split those numbers based on the client's preferred policy, the Quantify FR Excel-based output generated
automatically by the system for all US GAAP & IAS rev valuations should be used as the starting point for the allocations.
The Excel exhibits produced by FR are formatted with layout and presentation mirroring the exhibits in Section 2 of the main
global client report and all key disclosure results (and following year benefit cost for one-stop clients).
The suggested workflow is for client teams to download this file to Excel and copy/add a column for each required cost
allocation unit / subsidiary and apply the relevant allocation calculations. Alternatively, client teams may want to reference
these total plan results in their custom spreadsheets using formulas.
For more details on the Excel-based exhibits, see the separate "Disclosure exhibits and cover letter" section earlier in this
guide.
There are a number of features in Quantify Liabilities that may be helpful in extracting the required underlying liability
breakdowns by group. Refer to the Quantify-Liability-Results-Sources which can be found on the Quantify page under
Liabilities, Product Advice, User Guides, Supplemental Documentation.
"Bottom-up" cost allocation (may be of particular interest to client teams with unfunded plans)
A number of client teams, particularly in the Western Europe and Asia Pacific regions, adopt an alternative approach in order
to fully automate their cost allocation processes within Quantify FR. Typically many of these clients have unfunded plans so do
not have the additional complexity of asset allocations, but as noted below, funded plans may also utilize this process.
These client teams typically identify their subsidiaries at the start of the process and
• set up a “plan” within Quantify for each entity / subsidiary / cost allocation unit
• each member is allocated to the relevant “plan” during the data process stages
• a single liability run can still be used to generate underlying liability results for each “plan” in a single pass. Note FR
cannot read results by plan where the plans are defined using split structures.
• ELS, HLS and liability result for FR are automatically generated giving the normal cost, interest cost, benefit
payments separately for each “plan”
• In FR complete the year-end disclosures for all the “plans” on a bulk processing basis (which gives them all the
“bottom-up” breakdowns needed for financial reporting)
• use the consolidation functionality in FR to group together whichever aggregate results are needed by the client.
Client teams wishing to follow this approach for funded plans would need to split assets and cashflows by cost allocation unit
outside the system but could then use the bulk Asset Scenario functionality in FR to automatically upload (via copy/paste)
these amounts into the system before launching their disclosure valuations.
The separate "Bulk Processing" section earlier in this guide provides more details on how to efficiently generate results for
multiple "plans" (entity / subsidiary).
Quantify FR will then do full subdivision or cost allocation where the results are built in this manner from the bottom up. A full
set of disclosure results is created and maintained for each subsidiary in Quantify FR
170

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Quantify Financial Reporting February 2022 – Release 2.

Quantify FR User Guide

This guide provides a basic introduction to the Financial

Retirement Systems Group

What does it produce?

▪ IAS 19/FRS 102 valuation reports containing year-end disclosure information

Why use it?

Getting Help with Normal Use of Quantify FR

Getting Help with Application Crashes and Reporting Bugs

• The application generated a system error message

Then follow these steps:

Getting Help with Linking to Local Printers and Network Drives

CLIENTS & PLANS

Client Basic Info and Plan Sponsor Tabs

• The formal name will be used as text in the client report.

The following section provides guidelines to the relevant subtabs:

Plan Classification Identifies whether the plan is any of the following:

Description Optionally enter a brief description of the plan.

Trustee Optionally enter any Trustee details.

Canadian Pension Plans - Basic Info tab

Plan Classification Identifies whether the plan is any of the following:

Description Optionally enter a brief description of the plan.

Primary Benefit Formula • Traditional final average pay • Unrelated to Pay

Selecting “cash balance,” “pension equity,” or “cash value” will

Plan is Pay-Related • Select yes or no

Plans - Key Dates Tab

Report Documents Tab

File Locations Tab

Creating File Locations

Using File Locations

• Report Documents tab in Clients

PREPARING YOUR LIABILITIES FOR USE IN QUANTIFY

The overall intention of the Global Practice is that:

1. Using a customized Quantify Accounting Input tool (primarily UK users)

For Canadian funding functionality, liabilities must come from Quantify.

Creating Liability Results using the Quantify Accounting Input Tool

The utility contains 4 tabs:

Importing Liability Results into Quantify (single import)

iv. Pass Description

Importing Multiple Liability Results into Quantify in a single process

US PENSION FUNDING WORKFLOW GUIDES

Guide 2 - Performing Calculations

Guide 3: Scatter charts for active participants

Initializing Quantify FR for first-time use

Guide 1 – Initialization using prior year funding results

1. Plan your work

2. Manually input initialization data

Using Quantify FR for ongoing reporting purposes

1. Asset scenario for funding results calculations

3. Funding Results for the plan year

a. Create a new Funding Valuation Report Scenario

c. Enter Funding Scenario Details – Overrides Tab

Guide 3 – Scatter charts for active participants

Scatter Chart Comparison

Details on how specific data fields are defined follow.

# Element Client Report Schedule SB Line 26 Attachment

Pay chart includes actives included in the

7 Location of Under each cell count Same