Actuarial Determinations Clause Samples

Actuarial Determinations. For purposes of this Section 5.02, actuarial determinations shall be based upon the actuarial assumptions and methodologies used in preparing the most recent audited financial statements of Pluto as of the date of the determination (except that the assumptions concerning the applicable discount rate and rate of compensation increases will be determined as of the Distribution Date by ▇▇▇▇▇▇ but consistent with the manner in which those assumptions were determined for the most recent audited financial statements of Pluto) (the “Actuarial Assumptions”). Unless otherwise agreed by the Parties, all actuarial determinations under this Agreement shall be made by ▇▇▇▇▇▇.

Actuarial Determinations. For purposes of this Section 5.03, actuarial determinations shall be based upon the Actuarial Assumptions.

Actuarial Determinations. (1) The parties agree that, for each Plan Year, the determination of the New Monthly Benefit under Section 1(b), the determinations described in Section 1(c)(3), and the determination of the New Benefit Cost Increase, the Pre-1965 Player Cost Increase, the Pre-1965 Player Excess Benefit Cost Increase, and the Pre-1965 Retiree Cost Increase under Section 1(h) shall each be made by the actuaries of the Pension Plan, in all instances using reasonable actuarial assumptions, factors, methods and projections. Any such determinations shall be binding and conclusive. (2) All relevant actuarial assumptions, factors, methods and projections used in making the determinations described in Section 1(b) shall be the same for both determining the actuarially- determined annual contributions that would have been made to the Plan for a Plan Year in order to fund for the Baseline Benefit and determining the actuarially-determined annual contributions to be made to the Pension Plan for that Plan Year in order to fund for the New Monthly Benefit.

Actuarial Determinations. LAFCO acknowledges and agrees that, pursuant to Article XVI, section 17(e) of the California Constitution, the FCERA Board has the “sole and exclusive power to provide for actuarial services in order to assure the competency of the assets of the … retirement system.” The FCERA Board’s current practice is to determine single employer contribution rates for each General and Safety member tier in the system. LAFCO acknowledges and agrees, however, that the FCERA Board may determine at a later date to charge different contribution rates to different employers, regardless of membership category and tier, if it determines that doing so is appropriate. LAFCO further acknowledges and agrees that under no circumstances will it be relieved of its obligation to pay for its share of the unfunded liabilities of FCERA, as that share of the unfunded liabilities of FCERA may be determined by the FCERA Board in its discretion.