Actuarial Assumptions Clause Samples

Actuarial Assumptions. To the extent interest rate, mortality and/or other assumptions are needed to determine an actuarial equivalent amount under this Agreement, the Bank shall select such reasonable actuarial assumptions as the Bank shall consider necessary or appropriate.

Actuarial Assumptions. In any case in which it is necessary to make --------------------- actuarial adjustments in order to carry out the provisions of this Plan (including, without limitation, the provisions requiring the determination of an actuarially equivalent benefit under Section 4.02 hereof), the following rules shall apply: (a) The interest/discount rate assumed in making such actuarial adjustments shall be a fixed rate equal to the Specified Rate then in effect at the time such actuarial adjustments are calculated; and, (b) The mortality table used in making such actuarial adjustments shall be the 1971 Unisex Group Annuity Table (85% of male rate and 15% of female rate).

Actuarial Assumptions. The Actuarial Assumptions agreed between the Purchaser’s Actuary and the Vendor’s Actuary for the purposes of calculating the Completion Pension Scheme Liabilities, the Longstop Pension Scheme Liabilities and the Liability Movement Value are as set out below:

Actuarial Assumptions. Investment return The annualized gross redemption yield on the FT-Actuaries 20 Year Gilt Index (at close of business on the day before the Completion Date), plus 1.75% pa prior to retirement/0.75% pa after retirement, rounded to the nearest 0.01% pa compound Increases in prices 100 x [[(1+G)/(1+I)-1]% pa where G is the annualized gross redemption yield on the FT-Actuaries 20 Year Gilt Index (at close of business on the day before the Completion Date), and I is the arithmetic average of the annualized gross redemption yields on the FT-Actuaries Over 5 Year Index-Linked Gilt Index with 0% and 5% inflation (at close of business on the day before the Completion Date), respectively. The figure shall be rounded to the nearest 0.01% pa compound Salary or Pensionable 1.0% pa (with no averaging at the Salary increases in annualized date of exit from active excess of increases in membership) plus an allowance for prices promotional increases in line with the attached table Increases in Section 1.0% pa 148 Orders in excess of increases in prices Increases to pensions In line with increases in prices plus 0.2% once in payment pa on pensions in excess of GMP's Nil on GMP's accrued before 6 April 1988 In line with increases in prices, less 0.4% pa, on GMP's accrued after 6 April 1988 Increases to pensions In line with increases in prices on and lump sums in deferment pensions in excess of GMP's BACON & WOODROW Actuaries and Consultants Withdrawals ▇▇ accordance with attached table Age basis Age nearest birthday Death in service and in In accordance with standard tables, deferment adjusted as follows: Males 75% of AM92 unrated Females 75% of AF92 unrated Retirement in normal Average age at retirement is assumed to be health 60 for all members Retirement from At the member's Normal Pension Age deferment applying under the Rules of the Scheme, with a 17% reduction for early payment of pre-17 May 1990 benefits for pre-1 April 1988 male joiners under ESPS Retirement in ill-health In accordance with attached table (for ESPS members only) Death after retirement In accordance with the standard table PMA92/PFA92 (base year 2020), related up in age as follows: Males (normal health) + 1 year Males (ill-health) + 9 years Females (normal health) + 2 years Females (ill-health) + 9 years Widows + 2 years Widowers + 2 years Family Details 90% of members are assumed to be married at retirement or death before retirement. A man is assumed to be 2 years older than his wife.

Actuarial Assumptions. Effective July 1, 1984, the 1971 group annuity mortality table (set back five (5) years for females) with an interest rate of seven percent (7%) per year, compounded annually, shall be used for all actuarial valuations and other calculations required in the operation of the system except those specifically provided to the contrary in this chapter. For purposes of determining actuarial equivalent optional forms of payment under section 1.323, unisex factors assuming ninety percent (90%) of all members are male shall be used. For purposes of adjusting any benefit or limitation under section 415 of the Internal Revenue Code, the mortality table used shall be the table prescribed by the United States Secretary of the Treasury in accordance with section 415(b)(2)(E)(v) of the Internal Revenue Code. The board may, from time to time, and upon written recommendation of the actuary, adjust and otherwise change the actuarial assumptions in order to reflect retirement system experience and trends.

Actuarial Assumptions. The liabilities set forth in this report are based on the actuarial assumptions described in this section. Valuation Date: July 1, 2014 Actuarial Cost Method: Projected Unit Credit Amortization Method: 30-year level dollar, open period Discount Rate: 4.0% per annum Return on Assets: 4.0% per annum Age Turnover (%) 25 17.4% 30 16.2 35 14.1 40 11.6 45 8.9 50 5.8

Actuarial Assumptions. The following sentence is added after the first sentence of the last paragraph of Section 4(a) of the Participation Agreement: “The preceding sentence means that to determine an actuarial equivalent lump sum, the second paragraph of the definition of Actuarial Equivalent in the Pension Plan, which provides for use of the Applicable Mortality Table and the Applicable Interest Rate, will be taken into account.”

Actuarial Assumptions. For purposes of this Appendix A and Section D.02, the interest and mortality assumptions for distributions shall be the Applicable Interest Rate and the Applicable Mortality Table, as provided in the Uruguay Round Agreements Act, Public Law 103-465. (a) The Applicable Interest Rate is the average annual rate of interest under Code section 417(e)(3)(A)(ii)(II) for the fourth month immediately preceding the first day of the stability period. (b) The stability period is the Plan Month that contains the Annuity Starting Date for the distribution. During the stability period, the applicable interest rate remains constant. (c) The Applicable Mortality Table is the mortality table described in Code section 415(b)(2)(E)(v).

Actuarial Assumptions. The actuarial assumptions and methods in respect of the Plan shall be as set out in the Memorandum on Actuarial Assumptions, and actuarial Valuations shall be in accordance with the Memorandum on Actuarial Assumptions. The actuarial assumptions and methods used in the actuarial Valuations may be changed but only upon the recommendation of the Actuary and only after notification of TUFA and, if requested by TUFA, after consultation by the Actuary with an actuary designated by TUFA.