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 the periodic valuation of a Scheme, made in accordance with actuarial methods;
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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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Examples of Actuarial Assessment in a sentence

  • An Actuarial Assessment of 1% per month will automatically be assessed on each lump-sum payment received more than fifteen (15) days past the payment due date.

  • A Purchaser may reinstate his or her good standing provided that all delinquent amounts, including an Actuarial Assessment, and all Administrative Fees, including late payment fees, have been paid.

  • Any Purchaser who delays payment beyond the payment due date, until a coupon book has been issued or until payroll deduction or automatic bank deduction has been implemented, may be assessed late payment fees and an Actuarial Assessment.

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

  • A Pensions Actuarial Assessment will need to be undertaken to ensure that the new provider is aware of their pension liability.

  • Actuarial Assessment - An additional Contract amount assessed by MPACT to preserve the actuarial soundness of the Trust Fund.

  • Eke, An Indepth Actuarial Assessment for Wife Assault Recidivism: The Domestic Violence Risk Appraisal Guide, 32 LAW & HUM.

  • Proof of age, death, or disability, or receipt of Scholarship by the original Qualified Beneficiary should be furnished in such form as required by the State Treasurer at the time the request for substitution of the Qualified Beneficiary is submitted.If the request for Beneficiary substitution is approved, an additional Actuarial Assessment determined to be necessary to insure the actuarial soundness of the Trust Fund may be assessed.

  • Actuarial Assessment of Massachusetts House Bill No. 3024 Defining Eating Disorders as Biologically-Based Illnesses Prepared for Division of Health Care Finance and Policy Commonwealth of Massachusetts Prepared by Compass Health Analytics, Inc.

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

Related to Actuarial Assessment

  • Actuarial valuation means a mathematical determination of

  • Actuarial Receivable means any Receivable which provides for the allocation of payments according to 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—

  • 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 levied against property to pay all or a portion of the costs of making improvements that benefit the property.

  • 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.

  • 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 ABR 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. Section 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

  • Environmental Assessment Act means the Environmental Assessment Act, R.S.O. 1990, c.E.18.

  • Medical assessment means an assessment of a patient’s medical condition secured by our Assistance Company working in conjunction with the Medical Evacuation Provider’s medical director and in collaboration with the attending physician. The Assistance Company in collaboration with the Medical Evacuation Provider, will utilize the assessment to determine at its sole discretion whether a Plan Holder is fit to fly; the most appropriate means to provide medical evacuation; the medical personnel who will be accompanying the patient on the transport; and to confirm the medical facility closest to one’s home can meet their medical needs. If the patient’s medical facility of choice is unable to provide the high level of medical care required by the patient, arrangements will be made to transport the patient to the appropriate medical facility closest to their home, or closest to patient's preferred medical facility in the US when possible.