Actuarial Equivalency definition

Actuarial Equivalency or “Actuarially Equivalent” means a benefit of equivalent value to the benefit it replaces, as further provided in section 1:585.
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Actuarial Equivalency or “Actuarially Equivalent” means a benefit of equivalent value to the benefit it replaces based upon the following actuarial assumptions to be used by the Retirement System’s actuary in determinations hereunder:
Sample 1
Actuarial Equivalency means the Accrued Benefit payable at the Executive’s Benefits Age which differs in time of payment from the specific benefit provided under the Executive’s Joinder Agreement but having the same value when computed using pre-retirement and post-retirement interest of 5.75%.
Sample 1

Examples of Actuarial Equivalency in a sentence

  • Effective as of February 1, 2011, the interest rate used for Actuarial Equivalency purposes, including (without limitation) calculating the effect of an annuity withdrawal under section 1:566(2) on a Member’s Retirement Allowance, which is currently 7% per annum.

  • The single sum amount shall be the present value of the benefit under this paragraph, determined by using the interest rate used in this Plan for determining Actuarial Equivalency.

  • Tier 2 members receive market returns in both accounts.PERS calculates DC benefits using the following formula:DC = 2 × Member’s Account Balance × Actuarial Equivalency Factor.The member’s account balance depends on how her employee contributions are allocated across the regular and variable accounts and on the annual returns credited to each account.

  • Any change in the Actuarial Equivalency factors shall not become effective until the first day of the calendar year which follows the adoption of the amendment and providing at least thirty (30) days’ written notice of the amendment to the Director.

  • Any change in the Actuarial Equivalency factors shall not become effective until the first day of the calendar year which follows the adoption of the amendment and providing at least thirty (30) days’ written notice of the amendment to the Executive.

  • The 25 second video was produced in-house, using volunteers as models and for the voiceover.

  • For purposes of Actuarial Equivalency between the standard form of payment (straight life pension) described in section 1:564 and the optional forms of payment described in section 1:566(1): the Actuarial Equivalency Interest Rate set forth in section 1:552(4).

  • Effective as of February 1, 2011, the interest rate used for Actuarial Equivalency purposes, including (without limitation) calculating the effect of an annuity withdrawal under section 1:566(2) on a Member's Retirement Allowance, which is currently 7% per annum.

  • Please note that for employers with more than one physical location, the QCEW reports each work site as a separate establishment, and therefore, the total number of business establishments receiving services should be counted this way.

  • The following assumptions shall be used to determine Actuarial Equivalency of benefits payable under the Plan with respect to Participants, other than Warehouse Participants, who are credited with at least one Hour of Service on or after January 1, 1998: Interest: The rate specified in Section 12.2(a)(i).


More Definitions of Actuarial Equivalency

Actuarial Equivalency means an equivalent value or benefit determined by an actuary selected by Employer using the actuarial tables and assumptions being used to determine Actuarial Equivalency in the Qualified Retirement Plan at the time the determination is made.
Sample 1
Actuarial Equivalency means the Accrued Benefit payable at the Director’s Benefits Age which differs in time of payment from the specific benefit provided under the Director’s Joinder Agreement but having the same value when computed using pre-retirement and post-retirement interest of 5.75%.
Sample 1
Actuarial Equivalency or "Actuarial Equivalent" means a benefit under which the present value of the expected payments is equal to the present value of the expected benefit otherwise payable under the Plan, determined on the basis of the following mortality and interest assumptions:
Sample 1

Related to Actuarial Equivalency

  • Actuarial equivalent means a benefit of equal value when

  • Actuarially Equivalent or "of equal actuarial value" means a benefit of equal value

  • SERP Benefit means the benefit described in Section 5.1.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • 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.

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

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

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

  • 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.

  • Early Retirement Benefit means the retirement benefit payable to a member following early

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

  • Single Life Annuity means a Participant’s Grandfathered Benefit and/or 409A Benefit, as applicable, payable as an annuity in equal monthly installments over the life of the Participant, commencing as of the Payment Date and terminating in the month in which the Participant dies, with no further payments thereafter.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • life annuity means “life annuity contract” as defined in Pension Legislation that conforms with the Act and Pension Legislation;

  • Accrued Benefit have the meanings specified in ERISA.

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Actuarial valuation means a mathematical determination of

  • Termination Benefit means the benefit set forth in Article 7.

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

  • Change in Control Benefit means the benefit set forth in Section 4.1 below.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Maximum Benefit means the maximum benefit amount of each of the benefits covered under this Policy as stated in the Schedule of Benefits.

  • relevant benefit means any benefit specified in paragraph 21(2); and