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What will the actuarial valuation tell <br />me? <br />• Annual Required Contribution (ARC) <br />• The difference between the ARC and the <br />amount actually contributed will potentially <br />result in an accounting liability <br />— Underfund — liability <br />— OverFund - asset <br />The actuarial liability is NOT <br />what is being reported in the <br />government -wide financial <br />statements. <br />M <br />