Equivalent Actuarial Value definition

Equivalent Actuarial Value means equivalent value of a benefit under the Plan determined on the basis of the applicable factors set forth in Appendix A, except as otherwise specified in the Plan. In any other event, Equivalent Actuarial Value shall be determined on the same actuarial basis utilized to compute the factors set forth in Appendix A.

Equivalent Actuarial Value means equality in value of the aggregate amounts expected to be received under different forms of payment based on the same mortality and interest rate assumptions. For this purpose, the mortality and interest rate assumptions used in computing benefits under the Pension Plan will be used.

Equivalent Actuarial Value means equivalent value determined on the basis of the applicable factors set forth in Appendix A, except as otherwise specified in the Plan.

Examples of Equivalent Actuarial Value in a sentence

• If the vested Pension commences after the Member’s Normal Retirement Date, the Pension shall be of Equivalent Actuarial Value to the Pension otherwise payable at the Member’s Normal Retirement Date.

• If the Beneficiary also dies before the expiration of the period certain, a single sum payment of Equivalent Actuarial Value to the remaining guaranteed payments shall be paid to the estate of the last to survive of the Participant and his Beneficiary.

• Any Participant may, by written notice received by the Plan Administrator during the election period specified in Section 5.3, elect to convert the Retirement Income otherwise payable to him into an optional benefit of Equivalent Actuarial Value, as provided in one of the options named below.

• Such lump sum shall be of Equivalent Actuarial Value to the benefit calculated under Sections 4.1, 4.2, 4.3, 4.4, and 4.5 above that would have been provided commencing as of the Participant’s Normal Retirement Date, or the first day of the month following the Participant’s Separation from Service, if later.

• Upon his subsequent retirement or termination, his retirement allowance or vested benefit shall be recomputed in accordance with the provisions of Section 4.12 of the Retirement Plan and any benefits then payable hereunder shall be reduced by the Equivalent Actuarial Value (as defined in the Retirement Plan) of any benefit previously paid under the Plan.

More Definitions of Equivalent Actuarial Value

Equivalent Actuarial Value means benefits which have equal

Equivalent Actuarial Value means equivalent actuarial value determined using an interest rate of 5 percent and the mortality table prescribed in IRS Revenue Ruling 2001- 62, except that in determining the amount of a lump sum distribution under Section 3.07(b), equivalent actuarial value shall be determined on the basis of the applicable mortality table specified in Section 417(e)(3)(B) of the Code and the applicable interest rate specified in Section 417(e)(3)(C) of the Code for the second calendar month preceding the first day of the calendar year during which the Benefit Commencement Date occurs.

Equivalent Actuarial Value means, unless otherwise specified in ----------------------------- the Plan Agreement, a benefit of equivalent value to another form of benefit, computed on the basis of an interest rate factor of 7 percent per annum. Notwithstanding the foregoing, the Equivalent Actuarial Value of any payment made on account of a Change in Control shall be determined by using the discount rate under Treasury Regulation Section 1.280G-1, Q&A 32, or the successor regulation thereto on the date of the payment (i.e., as of the effective date of the Plan, 120 percent of the applicable Federal rate as determined under Section 1274(d) and the regulations thereunder, compounded semiannually). For purposes of Section 3.2 (regarding death benefits), Equivalent Actuarial Value shall be determined using the applicable long-term Federal rate under Section 1274(d) and the regulations thereunder, compounded semiannually, as in effect on the date of the Participant's death.

Equivalent Actuarial Value means, unless otherwise specified in the Plan Agreement, a benefit of equivalent value to another form of benefit, computed on the basis of an interest rate factor of 7 percent per annum.

Equivalent Actuarial Value means the equivalent value when computed on the basis of the interest rate determined as of such date under the regulations of the Pension Benefit Guaranty Corporation for determining the present value of a lump sum distribution on plan termination that were in effect on September 1, 1993 and the 1994 Group Annuity Reserving mortality table. Notwithstanding the foregoing, effective January 1, 2006, Equivalent Actuarial Value shall be determined by using the market yield on U.S. Treasury securities at 10-year constant maturities (non-inflation issues adjusted to constant maturities), as set forth in Federal Reserve Statistical Release H.15 for the first business day of the month in which the Participant’s Separation from Service occurs and the mortality table used to determine automatic lump sum cash outs under the Retirement Plan.

Equivalent Actuarial Value means the equivalent value determined on the following bases:

Equivalent Actuarial Value means equivalent value when computed at 6 per centum per annum on the basis of the 1971 Group Annuity Mortality Table (Male) for Members, and 1971 Group Annuity Mortality Table (Female) for contingent annuitants under optional forms of Allowances.