Actuarially Reduced definition

Actuarially Reduced means reduced to the actuarial equivalent.
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Actuarially Reduced means the present value of Participant's Retirement Benefit as set forth in Item 3(a) of his or her Plan Agreement at the time of Participant's Early Retirement Date (or other applicable time) using a discount rate equal to the Aa Corporate Bond Rate as published by Moody's Investors Services, Inc. or its successor as of the date of Early Retirement (or other applicable date).
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Actuarially Reduced means the present value of Participant's Retirement Benefit as set forth in Item 3(a) of his or her Plan Agreement at the time of Participant's Early Retirement Date using a discount rate as determined by the Committee in its sole and absolute discretion not to exceed the Monthly Average of the Composite Yield on Seasoned Corporate Bonds as published by Moody's Investors Services, Inc. or its successor as stated for the month of October preceding December 31 of the year immediately prior to the date of Early Retirement.
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Examples of Actuarially Reduced in a sentence

  • A Member or Deferred Pensioner who does not satisfy subsections 5.3 or 5.4 may elect to retire with an Actuarially Reduced Pension at age 55.

  • Employees may retire on or after July 1, 1992, with 25 years of credited service but less than 30 and receive an actuarially reduced pension which shall be known as the Actuarially Reduced 25 Year Option of the Retirement Plan.

  • Some retirement options remain available for teachers aged 55 years and over including Actuarially Reduced Benefits, Flexible Retirement and Age Retirement.

  • Any member considering taking an Actuarially Reduced pension would need to obtain a precise calculation from their pensions’ administrator before reaching a final decision.

  • A Member or Deferred Pensioner who does not satisfy subsections 4.3 or 4.4 may elect to retire with an Actuarially Reduced Pension on or after the date they reach age 55.

  • During the Transitional Period, the determination of the Actuarially Reduced Pension will be based on the retirement provisions as shown in this section 5.

  • However, the Participant's future Retirement Allowance shall be Actuarially Reduced or offset, if and as necessary, to avoid duplication of any Retirement Allowance previously paid to the Participant.

  • Age50 Actuarially Reduced Pension Benefits (ARB)February 2008 9IRISH NATIONAL TEACHERS’ ORGANISATION SEN SURVEYINTO and UTU recently carried out a survey of special Educational Needs permission in schools.

  • Eligible toRetire on or before August 1, 2017* Eligible toRetire on or after August 1, 2017 Full Benefits Actuarially Reduced BenefitsAny age with 30 years of service credit Age 60 with 5 years of service credit Age 55 with 25 years of service creditAge 67 with 10 years of service credit; orAge 57 with 30 years of service credit Age 62 with 10 years of service credit; orAge 60 with 25 years of service credit * Members with 25 years of service credit as of August 1, 2017 will be included in this plan.

  • Retirement with Actuarially Reduced Bene%ts - Age 62 or 30 years under appointment)CYNTHIA K.

Related to Actuarially Reduced

  • Actuarial equivalent means a benefit of equal value when

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

  • 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.

  • 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.

  • Accrued Benefit have the meanings specified in ERISA.

  • Joint Annuitant means the individual specified as such in the Data Pages. The Joint Annuitant must be the spouse of the Annuitant on the Contract Date.

  • Qualified Plan means a Benefit Arrangement that is intended to be tax-qualified under Section 401(a) of the Internal Revenue Code.

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

  • SERP Benefit means the benefit described in Section 5.1.

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

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

  • Canadian Defined Benefit Pension Plan means a Canadian Pension Plan that contains or has ever contained a “defined benefit provision” as such term is defined in Section 147.1(1) of the Income Tax Act (Canada).

  • Annuitant means a person who receives a retirement allowance or a disability allowance;

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

  • 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.

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

  • Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.

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

  • Actuarial reserve means a method of financing a pension or

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

  • 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.

  • extended reduction (qualifying contributory benefits means a reduction under this scheme for which a person is eligible in accordance with paragraph 88 or 95;

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

  • 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;