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.
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:
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.
Examples of Actuarial Equivalency in a sentence
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 Participant.
To determine the top heavy ratio, the Advisory Committee will use the following interest rate and mortality assumptions to value accrued benefits under a defined benefit plan: The actuarial assumption used for Actuarial Equivalency under the Farm Bureau Pension Plan.
Any change in the Actuarial Equivalency factors shall not become effective until the first day of the calendar year which follows.
More Definitions of Actuarial Equivalency
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%.
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%.
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: