Actuarial Cost Method Sample Clauses

Actuarial Cost Method. The Unit Credit Cost Actuarial Method shall be the actuarial cost method used to calculate Participant Liabilities under the Plan. The Unit Credit Cost Actuarial Method is an actuarial cost method wherein the actuarial liability is the present value of the pension benefit accrued from the date of entry into the Plan to the date of the valuation. This actuarial cost method shall be applied to the following employee data as at May 31, 2011: Member Date of Birth Spouse Date of Birth Continuous Service1 Average Earnings1 YMPE1 Xxxxx 12/27/1961 03/21/1962 9.71 years 662,300 44,900 1 Earnings and service were frozen as at September 16, 2008. YMPE assumed to be frozen as at September 16, 2008. The SERP Agreement calls for the use of calendar year periods in determining average earnings. However as only fiscal year data was available, we have used fiscal year periods to determine average earnings. Based on the above employee data, the accrued annual benefits payable to Xxxxx under the Plan at age 60 are as follows: Accrued monthly Lifetime Pension Accrued monthly Bridge Pension (paid from retirement to age 65) Xxxxx $ 9,592.44 $ 181.66
Sample 1
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Actuarial Cost Method. (a) To determine the employer contribution rate for 16 the State of Rhode Island for fiscal year 2002 and for all fiscal years subsequent, the actuary shall 17 compute the costs under chapter 10 of title 36 using the entry age normal cost method. Effective 18 July 1, 2012, the entry age normal cost method shall be as defined in Accounting Standard No. 27 19 of the Governmental Accounting Standards Board as in effect from time to time.
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Actuarial Cost Method. The Committee or its authorized delegatee shall determine the actuarial cost method to be used in determining costs and liabilities under the Plan pursuant to Section 301 et seq., of ERISA and Section 412 of the Code. The Committee or its authorized delegatee shall review such actuarial cost method from time to time, and if it determines from review that such method is no longer appropriate, then it shall petition the Secretary of the Treasury for approval of a change of actuarial cost method.
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Actuarial Cost Method. (a) Projected unit credit pro-rated over service to the earlier of the date of decrement or date of maximum credited service.
Sample 1

Related to Actuarial Cost Method

  • Payment Methodology The Contractor shall be compensated based on the Service Rates in Attachment for units of service authorized by the Institution in a total amount not to exceed the Contract Maximum Liability established in Section C.1. The Contractor’s compensation shall be contingent upon the satisfactory completion of units of service or project milestones identified in Attachment B. The Contractor shall submit invoices, in form and substance acceptable to the Institution with all of the necessary supporting documentation, prior to any payment. Such invoices shall be submitted for completed units of service or project milestones for the amount stipulated.

  • Civil Penalty Payment Method Xxxxxx shall pay the civil penalty by check, credit card, wire transfer, or portal, payable to CARB, using instructions provided separately by CARB in a Payment Transmittal Form. Xxxxxx is responsible for all payment processing fees. Payments shall be accompanied by the Payment Transmittal Form to ensure proper application. CARB shall deposit the civil penalty amount into the Air Pollution Control Fund for the purpose of carrying out CARB’s duties and functions to ensure the integrity of its air pollution control programs. Should payment instructions change, CARB will provide notice to Xxxxxx in accordance with Paragraph 12 (Notices).

  • Lump Sum The Change Order cost is determined by mutual agreement as a lump sum amount changing the Contract Sum allowed for completion of the Work. The Change Order shall be substantiated by documentation itemizing the estimated quantities and costs of all labor, materials and equipment required as well as any xxxx-up used. The price change shall include the cost percent allowed for the Contractor's overhead and profit and, if eligible, Time Dependent Overhead Costs.

  • Measurement method An isolation resistance test instrument is connected between the live parts and the electrical chassis. The isolation resistance is subsequently measured by applying a DC voltage at least half of the working voltage of the high voltage bus. If the system has several voltage ranges (e.g. because of boost converter) in conductively connected circuit and some of the components cannot withstand the working voltage of the entire circuit, the isolation resistance between those components and the electrical chassis can be measured separately by applying at least half of their own working voltage with those components disconnected.

  • Test method 3.3.1. The method used shall be that described in Annex 3, paragraph 3.1.

  • Payment Method Payment shall be made by the Contractor to the Subcontractor as follows: (choose one) ☐ - Immediately upon completion of the Services to the satisfaction of the Contractor. ☐ - Within business days after completion of the Services to the satisfaction of the Contractor. ☐ - Shall be paid on a ☐ weekly ☐ monthly ☐ quarterly ☐ other

  • Least-cost Selection Services for assignments which the Association agrees meet the requirements of paragraph 3.6 of the Consultant Guidelines may be procured under contracts awarded on the basis of Least-cost Selection in accordance with the provisions of paragraphs 3.1 and 3.6 of the Consultant Guidelines.

  • Early Retirement Benefit If the Executive terminates employment after the Early Retirement Date but before the Normal Retirement Date, and for reasons other than death or Disability, the Bank shall pay to the Executive the benefit described in this Section 2.2.

  • Automatic Renewal Limitation for TIPS Sales No TIPS Sale may incorporate an automatic renewal clause that exceeds month to month terms with which the TIPS Member must comply. All renewal terms incorporated into a TIPS Sale Supplemental Agreement shall only be valid and enforceable when Vendor received written confirmation of acceptance of the renewal term from the TIPS Member for the specific renewal term. The purpose of this clause is to avoid a TIPS Member inadvertently renewing an Agreement during a period in which the governing body of the TIPS Member has not properly appropriated and budgeted the funds to satisfy the Agreement renewal. Any TIPS Sale Supplemental Agreement containing an “Automatic Renewal” clause that conflicts with these terms is rendered void and unenforceable.

  • Balance Computation Method For all dividend-bearing Accounts, dividends are calculated by the average daily balance method which applies a daily periodic rate to the average daily balance for the average daily balance calculation period. The average daily balance is determined by adding the full amount of the principal in Your Account for each day of the period and dividing that figure by the number of days in the period. Accrual on Noncash Deposits. For dividend-bearing Accounts, dividends will begin to accrue on the business day that You deposit noncash items (e.g. checks) into Your Account.

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