Actuarial Work definition

Actuarial Work means any actuarial investigation, valuation, consulting or audit services, review or analysis of any nature whatsoever, for or without compensation.
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Actuarial Work. Work undertaken by a Member, or for which a Member is responsible, or in which a Member is involved, in their capacity as a person with actuarial skills on which the intended recipient of that work is entitled to rely. This may include carrying out calculations, modelling or the rendering of advice, recommendations, findings, or opinions.
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Actuarial Work. In accordance with Applicable Requirements, including in particular TAS, the rendering or receipt of actuarial analysis and advice as to –  any Flood Risk, and  the management or mitigation of Flood Risks as further particularised in SOR section 5.5
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Examples of Actuarial Work in a sentence

  • This report and the work involved in the actuarial valuation are within the scope of and comply with the Financial Reporting Council’s Technical Actuarial Standards 100: Principles for Technical Actuarial Work and 300: Pensions.

  • The Required Contribution rate shown on page 1 may be considered as a minimum contribution rate that complies with Minnesota Statutes and the requirements of the Standards for Actuarial Work published by the LCPR.

  • Asset Valuation MethodThe method used to develop the Fund’s Actuarial Value of Assets, as set out in the LCPR Standards for Actuarial Work, is as follows: In years when Fund assets earn above the assumed rate (i.e., experience gain) or below the assumed rate (i.e., experience loss) the gain (or loss) will be recognized over five years.

  • Our Actuary, Gabriel Roeder Smith & Company, developed its actuarial assumptions in accordance with the Standards for Actuarial Work established by the Minnesota Legislative Commission on Pensions and Retirement.

  • It is to be implemented from 2023.The final terms of the India-US agreement will lay down a mechanism for taxpayers (US-based digital firms) to claim credit on the tax paid during the interim period.

  • The bill removes the assumptions for payroll growth and salary increases and adds a reference to an appendix to the Standards for Actuarial Work, published by the Commission, where these assumptions will be reported and updated.Reduction of investment ROR to 7.5%.

  • However, the approval of the Executive Meeting is required for certain duties stipulated in the Investment Trusts Act, such as providing consent for cancelling the asset management services agreement originating from the Asset Management Company, convening of the General Unitholders’ Meeting, entrusting administrative work to general administrative service providers, concluding asset management services agreements and asset custody entrustment agreements, and other duties.

  • In addition, we recommend the Minnesota Standards for Actuarial Work be modified to remove the requirement that members currently over age 70 delay retirement one year and instead assume these members retire mid-year after the valuation date, the same as members younger than age 70.

  • The report has also been subject to peer review in line with the Actuarial Profession Standards documents APS L1: Duties and responsibilities of life assurance actuaries, and APS X2: Review of Actuarial Work.

  • The actuarial elements of this report fall under the definition of technical actuarial work as defined by the Financial Reporting Council, and as such would be required to comply with Technical Actuarial Standards 100 (Principles for Technical Actuarial Work) and 200 (Insurance).


More Definitions of Actuarial Work

Actuarial Work means the work of an actuary within the field of actuarial practice and includes acquisition of knowledge of the circumstances of the case, obtaining sufficient and reliable data, selection of assumptions and methods, calculations and examination of the reasonableness of their result, use of other persons’ work, formulation of opinion and advice, reporting, and documentation;
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Related to Actuarial Work

  • 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 valuation means a mathematical determination of

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

  • Actuarial reserve means a method of financing a pension or

  • 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 equivalent means a benefit of equal value when

  • 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 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.

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

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

  • Annual Benefit Limit means the maximum amount of benefits paid by the Company to the Policy Holder in a Policy Year irrespective of whether any limits of any benefit items stated in the Benefit Schedule have been reached. The Annual Benefit Limit is counted afresh in a new Policy Year.

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

  • 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.

  • 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.

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

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

  • 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.

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

  • 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.

  • SERP Benefit means the benefit described in Section 5.1.

  • Annual Work Plan means each work plan approved by the Association under Section I.C of Schedule 2 to this Agreement for inclusion in the Project.

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

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

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

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