Experience adjustment definition

Experience adjustment means the adjustment determined by the department, consistent with its actuarial practices, to premiums for the year in which a local employer withdraws from the plan.
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Experience adjustment means the adjustment determined by the department, consistent with its generally accepted actuarial practices, to current contributions premiums for the year in which a local employer withdraws from the plan for benefits that reflects deviations in claims experience.
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Experience adjustment means the adjustment determined by the department, consistent with generally accepted its actuarial practices, to current contributions for benefits that reflects
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Examples of Experience adjustment in a sentence

  • Experience adjustment up to the category maximum shall be based upon the number of years of teaching in elementary or secondary schools in a Canadian, publicly funded, English speaking education system plus the number of full days of extended Occasional Teaching divided by the number of school days in the school year.

  • Experience adjustment up to the category maximum shall be based upon the number of years of regular teaching in secondary schools in a provincial, publicly funded, English speakingeducation system plus the number of full days of extended Occasional Teaching divided by the number of school days in the school year.

  • To determine what a Long Term Occasional Teacher is to be paid for an assignment (1 Grid Salary X Number x Factor Number in School Year Experience adjustment shall be based upon: An Occasional Teacher shall be credited with previous long term occasional and day school teaching experience which the Occasional Teacher has acquired.

  • Experience adjustment shall be based upon the number of years of regular contract teaching in Ontario or equivalent plus the number of full days of extended Occasional Teaching with the Board divided by and rounded to the nearest month.


More Definitions of Experience adjustment

Experience adjustment means the adjustment determined by the department, consistent with its actuarial practices, to
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Related to Experience adjustment

  • True-Up Adjustment means any Semi-Annual True-Up Adjustment or Interim True-Up Adjustment, as the case may be.

  • Optimal Adjustment Event With respect to any Class of Class B Certificates and any Distribution Date, an Optimal Adjustment Event will occur with respect to such Class if: (i) the Principal Balance of such Class on the Determination Date succeeding such Distribution Date would have been reduced to zero (regardless of whether such Principal Balance was reduced to zero as a result of principal distribution or the allocation of Realized Losses) and (ii) (a) the Principal Balance of any Class of Class A Certificates would be subject to further reduction as a result of the third or fifth sentences of the definition of Principal Balance or (b) the Principal Balance of a Class of Class B Certificates with a lower numerical designation would be reduced with respect to such Distribution Date as a result of the application of clause (ii) of the definition of Class B-1 Principal Balance, Class B-2 Principal Balance, Class B-3 Principal Balance, Class B-4 Principal Balance, Class B-5 Principal Balance or Class B-6 Principal Balance.

  • Adjustment Events the Partnership makes a distribution on all outstanding OP Units in Partnership Units, (B) the Partnership subdivides the outstanding OP Units into a greater number of units or combines the outstanding OP Units into a smaller number of units, or (C) the Partnership issues any Partnership Units in exchange for its outstanding OP Units by way of a reclassification or recapitalization of its OP Units. If more than one Adjustment Event occurs, the adjustment to the Class B Units need be made only once using a single formula that takes into account each and every Adjustment Event as if all Adjustment Events occurred simultaneously. For the avoidance of doubt, the following events shall not be Adjustment Events: (x) the issuance of Partnership Units in a financing, reorganization, acquisition or other similar business transaction, (y) the issuance of Partnership Units pursuant to any employee benefit or compensation plan or distribution reinvestment plan, or (z) the issuance of any Partnership Units in respect of a capital contribution to the Partnership, including a contribution by the General Partner of proceeds from the sale of securities by the General Partner. If the Partnership takes an action affecting the OP Units other than actions specifically described above as Adjustment Events and, in the opinion of the General Partner such action would require an adjustment to the Class B Units to maintain the one-to-one correspondence described above, the General Partner shall have the right to make such adjustment to the Class B Units, to the extent permitted by law, in such manner and at such time as the General Partner, in its sole discretion, may determine to be appropriate under the circumstances. If an adjustment is made to the Class B Units as herein provided, the Partnership shall promptly file in the books and records of the Partnership an officer’s certificate setting forth such adjustment and a brief statement of the facts requiring such adjustment, which certificate shall be conclusive evidence of the correctness of such adjustment absent manifest error. Promptly after the filing of such certificate, the Partnership shall mail a notice to each holder of Class B Units setting forth the adjustment to his, her or its Class B Units and the effective date of such adjustment.

  • Final Adjustment Amount has the meaning set forth in Section 2.4(c).

  • Final Adjustment has the meaning set forth in Section 10.3.B(2) hereof.