Actuarial Assessment definition

Actuarial Assessment means an additional contract amount assessed by the State Treasurer to preserve the actuarial soundness of the Trust Fund. For an unpaid or partially paid lump sum account, this amount will be a percentage of the outstanding balance per month determined by the actuary. For the reinstatement of a Monthly Payment Plan the actuarial assessment is the difference between the present value of the prescribed monthly payments and the present value of the payments actually made by the purchaser. The actuarial assessment for a change in length of a monthly payment contract is the difference between the present values of the contract payments of the old and new payment schedules.
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Actuarial Assessment means either an amount which accrues on any payment that is not received by the scheduled due date listed on the Enrollment Confirmation, or an amount that may be charged when the Account Owner makes a change to the Account such as changing the Designated Beneficiary. Actuarial Assessments are charged to ensure the actuarial soundness of the Trust Fund. Actuarial Assessments may be deducted from your Prepaid Tuition Plan Benefits.
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Actuarial Assessment means the periodic valuation of a Scheme, made in accordance with actuarial methods;
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Examples of Actuarial Assessment in a sentence

  • HeilbrunImproving Testimony About Actuarial Assessment of Risk for Sexual Vio- lence, Stephen D.

  • Actuarial Assessment of Chapter 258 of the Acts of 2014: “An Act to increase opportunities for long-term substance abuse recovery”.

  • At the end of 2021, Towers Watson was engaged to conduct an actuarial assessment of the pension benefit plan and issued the Actuarial Assessment Report for PICC Group as at 31 December 2021.

  • The report on Actuarial Assessment of Pension and General Provident Fund as at 30.06.2009 provided various funding options for the Govt.

  • Postal Retiree Health Benefits – Unsustainable Finances Need to Be AddressedU.S. Government Accountability Office, GAO-18-602 August 2018 Need for Actuarial Assessment Congress should also commission an independent actuarial analysis to determine the best options for financing USPS retiree health benefits over the next 35 years.

  • The request for substitution includes payment of a Substitute Beneficiary Administrative Fee of twenty five dollars ($25) and any Actuarial Assessment calculated by MPACT.

  • This appointment is non-exclusive in nature and is subject to TC’s compliance with the terms of this Agreement.

  • Actuarial Assessment of Senate Bill 2195 (House 3453):An Act Relative to Establishingthe Massachusetts Childhood Vaccine Program and the Massachusetts Immunization Registry EXECUTIVE SUMMARY Senate Bill 2195, before the 2009-2010 session of the Massachusetts Legislature, modifies the manner in which vaccines and vaccinations are financed and paid for in the Commonwealth, including mandating insurance coverage for vaccinations.

  • Actuarial Assessment of Massachusetts Senate Bill No. 872: “An Act to Provide Equitable Coverage for Substance Abuse”, May 24, 2004.4 MGL, c.

  • Annual Actuarial Assessment KPMG Actuaries conducts an annual actuarial assessment of the liabilities of AICF to enable projections to be regularly updated in line with actual claims experience and the claims outlook.


More Definitions of Actuarial Assessment

Actuarial Assessment means a contract amount assessed to compensate the Trust Fund for a change from the Extended Payment Plan to the 5-Year Payment Plan and is the difference between the future values of the PACT Contract payments of each plan.
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Related to Actuarial Assessment

  • Actuarial valuation means a mathematical determination of

  • Actuarial Receivable means any Receivable under which the portion of a payment with respect thereto allocable to interest and the portion of a payment with respect thereto allocable to principal is determined in accordance with the Actuarial Method.

  • Actuarial certification means a written statement by a member of the American Academy of

  • Actuarial opinion means the opinion of an appointed actuary regarding the adequacy of the reserves and related actuarial items based on an asset adequacy analysis in accordance with subrule 5.34(6) and with applicable actuarial standards.

  • Actuarial method means the method of allocating a fixed level monthly payment on an obligation between principal and interest, pursuant to which the portion of such payment that is allocated to interest is equal to the product of (a) 1/12, (b) the fixed annual rate of interest on such obligation and (c) the outstanding principal balance of such obligation.

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—

  • Actuarial reserve means a method of financing a pension or

  • Phase I assessment as described in, and meeting the criteria of, (i) Chapter 5 of the FNMA Multifamily Guide or any successor provisions covering the same subject matter in the case of a Specially Serviced Mortgage Loan as to which the related Mortgaged Property is multifamily property or (ii) the American Society for Testing and Materials in the case of Specially Serviced Mortgage Loan as to which the related Mortgaged Property is not multifamily property.

  • Initial assessment means an assessment conducted prior to or at admission to determine whether the individual meets the service's admission criteria; what the individual's immediate service, health, and safety needs are; and whether the provider has the capability and staffing to provide the needed services.

  • Actuarial Standards Board means the board established by the American Academy of Actuaries to develop and promulgate standards of actuarial practice.

  • Net Benefits Test means a calculation to determine whether the benefits of a reduction in price resulting from the dispatch of Economic Load Response exceeds the cost to other loads resulting from the billing unit effects of the load reduction, as specified in Operating Agreement, Schedule 1, section 3.3A.4 and the parallel provisions of Tariff, Attachment K-Appendix, section 3.3A.4.

  • Adverse Benefit Determination means any of the following:

  • Special Assessment means an assessment against real property calculated on a benefit or ad valorem basis for curb and gutter, sidewalk, sewer, water, or street paving; a drain; a connection fee or similar charge for a sewer or water system; or the land contract on a parcel of property acquired under the circumstances set forth in section 3(2). Special assessment does not include charges for current service.

  • Assessment Report : means the assessment report referred to in Articles 32(2) and 33(3) of Regulation (EC) No 834/2007 drawn up by an independent third party fulfilling the requirements of ISO Standard 17011 or by a relevant competent authority, which includes information on document reviews, including the descriptions referred to in Articles 4(3)(b) and 11(3)(b) of this Regulation, on office audits, including critical locations and on risk-oriented witness audits conducted in representative third countries.

  • Restoration Retainage as used in this Subsection 7.4(b) shall mean an amount equal to 10% of the costs actually incurred for work in place as part of the Restoration, as certified by the Casualty Consultant, until such time as the Casualty Consultant certifies to Lender that Net Proceeds representing 50% of the required Restoration have been disbursed. There shall be no Restoration Retainage with respect to costs actually incurred by Borrower for work in place in completing the last 50% of the required Restoration. The Restoration Retainage shall in no event, and notwithstanding anything to the contrary set forth above in this Subsection 7.4(b), be less than the amount actually held back by Borrower from contractors, subcontractors and materialmen engaged in the Restoration. The Restoration Retainage shall not be released until the Casualty Consultant certifies to Lender that the Restoration has been completed in accordance with the provisions of this Subsection 7.4(b) and that all approvals necessary for the re-occupancy and use of the Property have been obtained from all appropriate governmental and quasi-governmental authorities, and Lender receives evidence satisfactory to Lender that the costs of the Restoration have been paid in full or will be paid in full out of the Restoration Retainage, provided, however, that Lender will release the portion of the Restoration Retainage being held with respect to any contractor, subcontractor or materialman engaged in the Restoration as of the date upon which the Casualty Consultant certifies to Lender that the contractor, subcontractor or materialman has satisfactorily completed all work and has supplied all materials in accordance with the provisions of the contractor’s, subcontractor’s or materialman’s contract, and the contractor, subcontractor or materialman delivers the lien waivers and evidence of payment in full of all sums due to the contractor, subcontractor or materialman as may be reasonably requested by Lender or by the title company insuring the lien of the Security Instrument. If required by Lender, the release of any such portion of the Restoration Retainage shall be approved by the surety company, if any, which has issued a payment or performance bond with respect to the contractor, subcontractor or materialman.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Acoustic Assessment Report means the report, prepared in accordance with Publication NPC-233 and Appendix A of the Basic Comprehensive User Guide,by HGC Engineering and dated August 22, 2008 submitted in support of the application, that documents all sources of noise emissions and Noise Control Measures present at the Facility and includes all up-dated Acoustic Assessment Reports as required by the Documentation Requirements conditions of this Certificate to demonstrate continued compliance with the Performance Limits following the implementation of any Modification.

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Phase I Environmental Assessment A “Phase I assessment” as described in, and meeting the criteria of, the ASTM, plus a radon and asbestos inspection.

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

  • C/D Assessment Rate for any day as applied to any Base Rate Loan, the annual assessment rate in effect on such day which is payable by a member of the Bank Insurance Fund maintained by the Federal Deposit Insurance Corporation (the "FDIC") classified as well-capitalized and within supervisory subgroup "B" (or a comparable successor assessment risk classification) within the meaning of 12 C.F.R. ss. 327.4 (or any successor provision) to the FDIC (or any successor) for the FDIC's (or such successor's) insuring time deposits at offices of such institution in the United States.

  • Actuarial equivalent means a benefit of equal value when

  • Lump Sum means the total sum which will have become payable to the Contractor by the Principal upon completion of the Works.

  • Basic Plan means as to any Member or Vested Former Member the defined benefit pension plan of the Company or an Affiliated Employer intended to meet the requirements of Code Section 401(a) pursuant to which retirement benefits are payable to such Member or Vested Former Member or to the Surviving Spouse or designated beneficiary of a deceased Member or Vested Former Member.

  • Primary Social Security Benefit means, with respect to any member, the primary insurance amount