ACTUARIAL VALUATIONS Sample Clauses

ACTUARIAL VALUATIONS. 7.1 The Administering Authority may periodically and shall at least on a triennial basis obtain from an actuary a certificate specifying in the case of the Admission Body the percentage or amount by which in the actuary's opinion the contribution rate at the primary rate or secondary rate within the meaning regulation 62 of the Regulations should be increased or reduced. This is with a view of ensuring that as far as is reasonably possible the value of assets of the Fund in respect of current and former Eligible Employees is neither materially more or materially less than the anticipated liabilities of the Fund in respect of the said Eligible Employees at the date the Contract is due to end. For the avoidance of doubt the decision as to whether the said assets are materially more or materially less than the said liabilities shall be left to the discretion of the actuary appointed by the Administering Authority. 7.2 Upon termination of this Agreement the Administering Authority must obtain: 7.2.1 an actuarial valuation of the liabilities of the Fund in respect of current and former Eligible Employees as at the date of termination; and 7.2.2 a revision of any rates and adjustment certificate within the meaning of the Regulations showing the revised contributions due from the Admission Body. 7.3 The costs of obtaining the certificates (or revisions to them) and the actuarial valuations referred to in clause 7.1 (other than a triennial valuation) and clause 7.2 shall be paid by the Admission Body within thirty (30) calendar days of receipt of written notification of such costs from the Administering Authority.
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ACTUARIAL VALUATIONS. The Parties agree that there shall be actuarial valuations of the Plan completed in accordance with the Funding Policy and consistent with the terms of the Memorandum of Agreement between the Parties dated November 28, 2017.
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ACTUARIAL VALUATIONS. 5.1 At each and every Pre-Payment Date, XL Re's Appointed Actuary will conduct an Actuarial Valuation of the Business Covered in accordance with the provisions of the Security Agreement. 5.2 The value of the Liability Outgo shall be compared with the value of the Assets at the relevant Pre-Payment Date to determine the extent of any Surplus, if the value of the Assets exceeds the value of the Liability Outgo, or, a Further Capital Requirement, if the value of the Liability Outgo exceeds the value of the Assets. 5.3 Should there be a Further Capital Requirement at any Pre-Payment Date then the Retrocessionaire will be required to make a payment to XL Re at the Further Capital Payment Date to meet the Retrocessionaire's Share of the Further Capital Requirement. 5.4 Should there be a Surplus at any Pre-Payment Date then part or all of the Surplus may be declared as a Distributable Surplus and released From the Assets. The amount of the Distributable Surplus will be determined at the sole discretion of XL Re's Appointed Actuary save that, should the Surplus exceed the Maximum Surplus, then the Distributable Surplus will be no less than the amount by which the Surplus exceeds the Maximum Surplus. The Retrocessionaire will receive the Retrocessionaire's Share of the Distributable Surplus at the Distributable Surplus Date.
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ACTUARIAL VALUATIONS. The Trustee shall obtain actuarial valuations of the Plan from time to time from the Actuary but in any event the effective date of each such valuation shall not be later than three years after the effective date of the previous valuation. Each such valuation shall be obtained within the period prescribed by the 1995 Act. The Plan Actuary shall provide such actuarial statements and actuarial certificates as are required by the 1995 Act and by the Disclosure Regulations.
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ACTUARIAL VALUATIONS. Borrowers shall deliver to Lender, as soon as available and in any event within 120 days after the end of each fiscal year of GAINSCO, a report by an independent actuarial consulting firm of recognized national standing reviewing the adequacy of loss and loss adjustment expense reserves as at the end of the last fiscal year of each Insurance Subsidiary, determined in accordance with SAP, and stating an estimated amount of minimum reserves, it being agreed that in each case such independent firm will be provided access to or copies of all relevant valuations relating to the insurance business of each such Insurance Subsidiary in the possession of or available to the Borrowers or their Subsidiaries.
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ACTUARIAL VALUATIONS. 16 4.1 General 16 4.2 Initial Actuarial Valuation 16 4.3 Annual Actuarial Valuations 16 4.4 Terminal Actuarial Valuations 17
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ACTUARIAL VALUATIONS. The Purchaser has been provided all actuarial valuations, if any, prepared for each Employee Plan since 1998;
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Related to ACTUARIAL VALUATIONS

  • Annual Valuation The Trust shall annually, at least 30 days prior to the anniversary date of establishment of the Fund, furnish to the Grantor and to the Agency a statement confirming the value of the Trust. Any securities in the Fund shall be valued at market value as of no more than 60 days prior to the anniversary date of establishment of the fund. The failure of the Grantor or the Agency to object in writing to the Trustee within 90 days after the statement has been furnished to the Grantor and the Agency shall constitute a conclusively binding assent by the Grantor, barring the Grantor from asserting any claim or liability against the Trustee with respect to matters disclosed in the statement.

  • Benefit Level The primary care clinics available through each plan administrator are assigned a Benefit Level. The Benefit Levels are outlined in the benefit chart below. Primary care clinics may be in different Benefit Levels for different plan administrators. Family members may be enrolled in clinics that are in different Benefits Levels. Employees and their dependents may change to clinics in different Benefit Levels during the annual open enrollment. Employees and their dependents may also elect to move to a clinic in a different Benefit Level within the same plan administrator up to two (2) additional times during the plan year. Unless the individual has a referral from his/her primary care clinic, there are no benefits for services received from providers in Benefit Levels that are different from that of the primary care clinic in which the individual has enrolled.

  • Present Value Present Value shall be based only on the interest and mortality rates specified in the Adoption Agreement.

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • Benefit Limit In the event that any payments or benefits to which Employee becomes entitled in accordance with the provisions of this Agreement (or any other agreement with the Company or any other corporation or entity that directly or indirectly controls, is controlled by, or is under common control with the Company) would otherwise constitute a parachute payment under Code Section 280G(b)(2), then such payments and/or benefits will be subject to reduction to the extent necessary to assure that Employee receives only the greater of (i) the amount of those payments which would not constitute such a parachute payment or (ii) the amount which yields Employee the greatest after-tax amount of benefits after taking into account any excise tax imposed under Code Section 4999 on the payments and benefits provided Employee under this Agreement (or on any other payments or benefits to which Employee may become entitled in connection with any change in control or ownership of the Company or the subsequent termination of his employment with the Company). The benefit limits of this paragraph shall be calculated as of the date on which the event triggering any parachute payment is effected, and such calculation shall be completed within thirty (30) days after such effective date. Should the completed calculations require a reduction in benefits in order to satisfy the benefit limit of this paragraph, then the portion of any parachute payment otherwise payable in cash to Employee shall be reduced to the extent necessary to comply with such benefit limit, with each such cash payment to be reduced pro-rata but without any change in the payment dates, and with the cash severance payments detailed herein to be the first and then the benefit payments to be the next such payments so reduced. Should such benefit limit still be exceeded following such reduction, then the number of shares which would otherwise vest on an accelerated basis under each of Employee’s outstanding equity awards shall be reduced to the extent necessary to eliminate such excess, with such reduction to be applied to such equity awards in the same chronological order in which those awards were made.

  • Effect on Benefits a. Employees on Family and Medical Leave shall be covered by District Life Insurance Group Coverage and Hospital-Medical, Dental, Vision Group Coverage as though they were in active service. b. No credit is allowed for any benefits for time spent on unpaid family illness leave. c. Time on leave with pay counts for step advance, retirement, and vacation; credit in full for step advance and vacation, and full or half (½), according to the pay allowed, for retirement. d. Time on Family and Medical Leave does count as service in meeting requirements for other types of leaves.

  • Valuation Date The value of the Collateral shall be determined on the date of the Buy-In (or the payment made pursuant to Section 6.2 below).

  • Third Party Administrators for Defined Contribution Plans 2.1 The Fund may decide to make available to certain of its customers, a qualified plan program (the “Program”) pursuant to which the customers (“Employers”) may adopt certain plans of deferred compensation (“Plan or Plans”) for the benefit of the individual Plan participant (the “Plan Participant”), such Plan(s) being qualified under Section 401(a) of the Code and administered by TPAs which may be plan administrators as defined in the Employee Retirement Income Security Act of 1974, as amended. 2.2 In accordance with the procedures established in Schedule 2.1 entitled “Third Party Administrator Procedures,” as may be amended by the Transfer Agent and the Fund from time to time (“Schedule 2.1”), the Transfer Agent shall: (a) Treat Shareholder accounts established by the Plans in the name of the Trustees, Plans or TPAs, as the case may be, as omnibus accounts; (b) Maintain omnibus accounts on its records in the name of the TPA or its designee as the Trustee for the benefit of the Plan; and (c) Perform all Services under Section 1 as transfer agent of the Funds and not as a record-keeper for the Plans. 2.3 Transactions identified under Sections 1 and 2 of this Agreement shall be deemed exception services (“Exception Services”) when such transactions: (a) Require the Transfer Agent to use methods and procedures other than those usually employed by the Transfer Agent to perform transfer agency and recordkeeping services; (b) Involve the provision of information to the Transfer Agent after the commencement of the nightly processing cycle of the TA2000 System; or (c) Require more manual intervention by the Transfer Agent, either in the entry of data or in the modification or amendment of reports generated by the TA2000 System, than is normally required.

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, Executive (and his eligible spouse and dependents) shall be entitled to participate in all the welfare benefit plans and programs maintained by the Company from time-to-time for the benefit of its senior executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs. In addition, during the Employment Period, Executive shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time-to-time by the Company for the benefit of its senior executives, other than any annual cash incentive plan.

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