Actuarially equivalent benefits definition

Actuarially equivalent benefits means benefits which are of equal value when computed upon the basis of actuarial tables adopted by the board, except that, in case of disability retirement, the options authorized by KRS 61.635 shall be computed by adding ten (10) years to the age of the member. No disability retirement option shall be less than the same option computed under early retirement;
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Examples of Actuarially equivalent benefits in a sentence

  • Actuarially equivalent benefits shall be determined under the factors set forth for determining actuarial equivalency in the Pension Plan.

  • Actuarially equivalent benefits shall be determined under the factors set forth for determining actuarial equivalency in the first paragraph of Section 2.3(k) of Part B of the Pension Plan.

  • Actuarially equivalent benefits and the monthly amount of supplemental retirement income that could be provided for a participant on a life annuity basis with the participant’s profit sharing plan employer account or with the participant’s other Bell & Howell retirement plan accumulation will be determined on the basis of such reasonable actuarial tables, factors and assumptions as the plan administrator may adopt for these purposes and apply on a uniform basis.

  • Actuarially] equivalent[ benefits]" means a benefit[benefits which are] of equal value when computed upon the basis of actuarial tables adopted by the board.

  • The Plan should also ensure that there is enough vacant developable and redevelopable land, and provide density guidelines and size thresholds to meet this need.The Committee also recommended that the Plan contain guidelines for a bal- anced jobs-to-housing ratio in each region of the State.

  • Actuarially equivalent benefits under the Plan for options other than Option I shall be determined using the UP-1984 Mortality Table with a 3-year setback and the Uniform Seniority Table and an 8% interest rate.

Related to Actuarially equivalent benefits

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

  • Actuarial equivalent means a benefit of equal value when

  • SERP Benefit means the benefit described in Section 5.1.

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

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

  • 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.

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

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

  • 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;

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

  • Accrued Benefit have the meanings specified in ERISA.

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

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

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

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

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

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

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

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

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

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

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

  • Relevant Benefits means any pension, annuity, lump sum, gratuity or other like benefit given or to be given on retirement or death, or in anticipation of retirement.

  • 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.

  • Annuity Benefit means a benefit payable by us as described in Part VII.

  • 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.