The first dialog box displayed after clicking the Asset & Funding Policies command is the library of all entries previously defined, if any. To edit an entry, click its name, or click New to create a new Asset & Funding Policy. You are urged to name each entry as descriptively as possible, to facilitate its subsequent review and use. The next (Asset & Funding Policy) dialog box contains the following parameters:
Name is a descriptive phrase to use when saving this Asset & Funding Policy set.
The Update button accesses parameters used to roll amortization schedules forward one year. See Updating an Asset & Funding Policy for details.
For Asset & Funding Policy library entries in the U.S. qualified mode, ProVal needs to know whether, and how, to reflect the Pension Protection Act of 2006 (PPA). Therefore, select the Applicable law:
| Multiemployer | for multiemployer plans (as defined under ERISA) |
| PPA | for single-employer plans (as defined under ERISA), to apply PPA only |
| Pre-PPA | for single-employer plans, to apply the law as in effect prior to PPA only |
| Pre-PPA and PPA | for single-employer plan forecasts, to apply both PPA and the law as in effect prior to PPA, with the transition occurring at the effective date you indicate for PPA |
Note: The underlying Valuation(s) (or, in a forecast, Core Projection(s)) must produce the necessary liabilities for your choice of Applicable law. Therefore, be sure that your selection here is consistent with the law selection of the Valuation Assumptions set for each Valuation (or Core Projection) to be included in the Valuation Set (or Deterministic Forecast or Stochastic Forecast) referencing this Asset & Funding Policy. For example, you may use a “pre-PPA” Asset & Funding Policy with either a “pre-PPA” Valuation (or Core Projection) or a “pre-PPA and PPA” Core Projection but not with a “PPA” Valuation (or Core Projection).
If the law selection is "Pre-PPA", to indicate a cooperative and small employer charity (CSEC) plan permanently exempted from PPA funding standards, check the Apply Cooperative and Small Employer Charity (CSEC) rules box. If this box is checked, plan amendments (plan changes for both active and inactive plan participants), such as ad hoc COLAs, will be amortized over 15 years (instead of 30) and the additional funding charge will not be applied. Additionally, the maximum tax deductible contribution, if the plan is not tax-exempt, and PBGC premiums will not be calculated. To determine them, run separate Valuation(s) / Core Projection(s) and a separate Valuation Set / forecast, under the "PPA" law type. See also PBGC Premium and Administrative Expenses and, especially if PBGC premiums are paid from plan assets, PBGC premiums for plans or plan years not subject to PPA funding standards.
In Public mode, check Vary by group and specify a coded field that represents the funding groups. If checked, certain parameters throughout the Asset & Funding policy can be entered by group. The parameters to enter by group will be ghosted and a spreadsheet icon 
will appear. Click on the spreadsheet icon to enter information by group. All information can be copied and pasted from an outside source. In a Valuation Set or Deterministic Forecast, an Asset & Funding policy that varies by group can be combined with Valuations or Core Projections that are subtotaled by the same coded field to produce results by group.
Select a topic to edit contains entries for each category of information (topic) found under the Asset & Funding Policy command. The available topics differ by ProVal mode of operation (U.S. qualified pension, universal pension, U.S. public sector pension, OPEB, Canadian registered pension, German pension and U.K. pension plan). Click the name of a topic to access its parameters:
ERISA Asset Valuation Method (U.S. qualified mode) or Funding Asset Valuation Method (all modes except U.S. qualified)
Solvency Asset Valuation Method (Canadian registered mode)
Accounting Asset Valuation Method (all modes except U.S. public, German and U.K.)
ERISA Amortization (U.S. qualified mode, “Pre-PPA” or “Multiemployer” law) or Pre-PPA ERISA Amortization (U.S. qualified mode, “Pre-PPA and PPA” law) – heading is for descriptive purposes only; click indented subtopic name:
Minimum Funding Amortization Bases
Bases Supporting Maximum Contribution
Additional Funding Requirements (except “Multiemployer” law)
Minimum Funding (U.S. qualified mode, “PPA” law) or PPA Minimum Funding (U.S. qualified mode, “Pre-PPA and PPA” law) – heading is for descriptive purposes only; click indented subtopic name:
Credit Balances and Waivers (“PPA” law)
Shortfall Amortization (“PPA” law)
At-Risk Status (“PPA” law)
Transition (“Pre-PPA and PPA” law)
Credit Balances (“Pre-PPA and PPA” law)
Minimum Funding Amortization Bases (Canadian registered mode)
Funding Amortization Bases (universal, U.S. public, OPEB, German and U.K. modes)
Accounting Methodology (all modes except U.S. public)
GASB Accounting (U.S. public mode)
PBGC Premium and Administrative Expenses (U.S. Qualified Mode) or Administrative Expenses (all modes except U.S. qualified)