Actuarial Equivalent. The term “Actuarial Equivalent” means equivalence in value between two (2) or more forms and/or times of payment based on a determination by an actuary chosen by the Committee, utilizing the “applicable interest rate” specified by Internal Revenue Code Section 417(e)(3)(C) as of the date of Executive’s Separation of Service or Disability, and the “applicable mortality table” specified in Code Section 417(e)(3)(B).
Appears in 6 contracts
Samples: Supplemental Executive Retirement Plan Agreement (Columbia Banking System Inc), Supplemental Executive Retirement Plan Agreement (Columbia Banking System Inc), Supplemental Executive Retirement Plan Agreement (Columbia Banking System Inc)
Actuarial Equivalent. The term “Actuarial Equivalent” means equivalence in value between two (2) or more forms and/or times of payment based on a determination by an actuary chosen by the Committee, utilizing the “applicable interest rate” specified by Internal Revenue Code Section 417(e)(3)(C) as of the date of Executive’s Separation of Service or Disability, and the “applicable mortality table” table specified in Code Section 417(e)(3)(B).
Appears in 1 contract
Samples: Supplemental Executive Retirement Plan Agreement (Columbia Banking System Inc)
