Actuarial experience definition

Actuarial experience means the performance of, or the direct super- vision of, services involving the appli- cation of principles of probability and compound interest to determine the present value of payments to be made upon the fulfillment of certain speci- fied conditions or the occurrence of certain specified events.
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Actuarial experience means the performance of, or the direct supervision of, services involving the application of principles of probability and compound interest to determine the present value of payments to be made upon the fulfill­ ment of certain specifiéd conditions or the occurrence of certain specified events. (b) "Responsible actuarial experience”
Sample 1

Examples of Actuarial experience in a sentence

  • Actuarial experience and investment performance are also factors in this computation.

  • Skills and Qualifications: Actuarial experience; international business; investments; mergers and acquisitions; marketing; cybersecurity; management and business consulting experience.

  • Information about the University’s defined benefit pension plans is as follows: March 31, March 31, April 1,2013Plan 1 2012Plan 1 2011Plan 1 Fair value of plan assets $ 16,432,578 $15,100,342 $ 15,232,753Accrued benefit obligation22,738,760 19,462,243 16,210,804DeficitUnamortized amounts Transitional obligation6,306,182 - 4,361,901 - 978,051 -Past service costs Actuarial experience loss 6.

  • Plan assets, fair value at beginning of period+ Contributions from employer company, and employees, if applicable+ Expected return± Actual return{+ Actuarial (experience) gain on assets or— Actuarial (experience) loss on assets— Benefits paid to retirees = Plan assets, fair value at end of period Contributions The amount of an employer company’s contributions to the plan has a direct effect on the plan’s ability to pay the accrued obligation.

  • Actuarial experience studies are often performed every five years or when significant changes in the plan design occur.

  • Legislative intent -- section 112.61 (cont.):• Actuarial experience may be used to fund additional benefits, provided that the present value of such benefits does not exceed the net actuarial experience accumulated from all sources of gains and losses.• Act establishes minimum standards for the operation and funding of public employee retirement systems and plans.

  • The following actuarial assumptions were applied to all periods included in the measurement: Actuarial cost method Entry‐age normal Inflation 2.5%Salary increases (including inflation) 3.5% to 7.5% Investment rate of return 6.5%Mortality rates PubG‐2010 amount‐weighted Actuarial experience study 2001‐2006 Actuarial assumption changes.

  • The exit interview questionnaire obtained basic demographic information on the women.

Related to Actuarial experience

  • Actuarial valuation means a mathematical determination of

  • 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.

  • Actuarial equivalent means a benefit of equal value when

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

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

  • Actuarial reserve means a method of financing a pension or

  • Adverse Benefit Determination means any of the following:

  • Teaching Experience means full-time employment as a teacher in a public school, private school licensed or accredited by the State Board of Education, or institution of higher education,

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

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

  • 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.

  • Clinical experience means providing direct services to individuals with mental illness or the provision of direct geriatric services or special education services. Experience may include supervised internships, practicums, and field experience.

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

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

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

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

  • SERP Benefit means the benefit described in Section 5.1.

  • 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.

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

  • Accrued Benefit have the meanings specified in ERISA.

  • 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.

  • financial expert means an individual, company or firm who is authorised to give investment advice under the Financial Services and Markets Act 2000;

  • Actuary means a person who is a member in good standing of the American academy of actuaries.

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;