Actuarial Cost Method Clause Samples
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Actuarial Cost Method. The Unit Credit Cost Actuarial Method shall be the actuarial cost method used to calculate Participant Liabilities under the Plan. The Unit Credit Cost Actuarial Method is an actuarial cost method wherein the actuarial liability is the present value of the pension benefit accrued from the date of entry into the Plan to the date of the valuation. This actuarial cost method shall be applied to the following employee data as at May 31, 2011: Member Date of Birth Spouse Date of Birth Continuous Service1 Average Earnings1 2008 CRA DB Limit YMPE1 ▇▇▇▇▇▇▇ 11/15/1951 12/30/1953 13.71 years 477,500 $ 2,333.33 44,900 1 Earnings and service were frozen as at September 16, 2008. YMPE and CRA DB limit assumed to be frozen as at September 16, 2008. The SERP Agreement calls for the use of calendar year periods in determining average earnings. However as only fiscal year data was available, we have used fiscal year periods to determine average earnings. Based on the above employee data, the accrued annual benefits payable to ▇▇▇▇▇▇▇ under the Plan at June 1, 2011 (age 59.54) are as follows: Accrued monthly Lifetime Pension Accrued monthly Bridge Pension (paid from retirement to age 65) ▇▇▇▇▇▇▇ $ 6,363 $ 253
Actuarial Cost Method. To determine the employer contribution rate for 16 the State of Rhode Island for fiscal year 2002 and for all fiscal years subsequent, the actuary shall 17 compute the costs under chapter 10 of title 36 using the entry age normal cost method. Effective 18 July 1, 2012, the entry age normal cost method shall be as defined in Accounting Standard No. 27 19 of the Governmental Accounting Standards Board as in effect from time to time.
Actuarial Cost Method. The Committee or its authorized delegatee shall determine the actuarial cost method to be used in determining costs and liabilities under the Plan pursuant to Section 301 et seq., of ERISA and Section 412 of the Code. The Committee or its authorized delegatee shall review such actuarial cost method from time to time, and if it determines from review that such method is no longer appropriate, then it shall petition the Secretary of the Treasury for approval of a change of actuarial cost method.
Actuarial Cost Method. (a) Projected unit credit pro-rated over service to the earlier of the date of decrement or date of maximum credited service.
(b) Gender neutral based on 80% of the liability determined assuming the member is female plus 20% of the liability determined assuming the member is a male.
Actuarial Cost Method. (a) Projected unit credit pro-rated over service to the earlier of the date of decrement or date of maximum credited service.
(b) Gender neutral based on 80% of the liability determined assuming the member is female plus 20% of the liability determined assuming the member is a male.