Actuarial Equivalency Sample Clauses

Actuarial Equivalency. Whenever an actuarial equivalent must be determined under this Agreement, it shall be determined in the same manner, and with the same interest and mortality factors, as such equivalent would be determined under the provisions of the pension plan in effect at the time such determination is to be made, or, if no pension plan is in effect on such date, using reasonable actuarial factors selected by the Administrator.
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
Actuarial Equivalency. With respect to Article XIII, when referring to amounts developed under Article IV, "actuarial value", "remaining value", "actuarial equivalent" and "value of the accrued benefit" shall be determined using GAM71 Male mortality table and interest at the rate of 5.5% per annum. However, the value so determined for any Participant or Former Participant to whom this Article XIII applies shall not be less than the actuarial value of the accrued benefit for that Participant or Former Participant as of July 31, 1983, determined using the GAM71 Male and Female (as appropriate) mortality table and interest at the rate of 5.5% per annum. When referring to amounts developed from Schedule A, Column 2, the amount of accrued benefits and actuarial equivalents shall be determined as described, using interest at the rate of 5% per annum. Effective with respect to any lump sum distribution or the value of amounts developed pursuant to this Article XIII with respect to any Participant whose employment Terminates on or after January 1, 1998, the value of such benefit shall be determined in accordance with the foregoing assumptions; provided, however, that in no event shall the amount be less than the amount determined using the assumptions set forth in paragraph (b) of the definition of Actuarial Equivalence. -------------------------------------------------------------------------------- Appendix A --------------------------------------------------------------------------------
Sample 1
Actuarial Equivalency. For purposes of this Subsection, all determinations of actuarial equivalency shall based on the following mortality and interest assumptions: Mortality: 1994 GAR Unisex Mortality Table Interest: 4.90% per annum, compounded annually”
Sample 1

Related to Actuarial Equivalency

  • Actuarial Equivalent The Actuarial Equivalent of the payments from the SERP determined under that Plan and this subsection shall be determined by taking into account the reduction for early commencement of benefits imposed by that Plan and by using reasonable actuarial assumptions. For purposes of determining the lump sum actuarial equivalent, the corresponding actuarial assumptions provided in the Retirement Plan (or, to the extent not provided in that Plan, as provided under GATT) shall be used.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Lump Sum Deferral Benefits may be paid to the Beneficiary in a single, lump-sum payment.

  • Net Benefit A Net Benefit for a particular fund or, in the case of a multi-class fund, a class results when aggregate Benefits exceed aggregate Losses (i.e., net redemptions on a day the fund’s or class’s NAV is understated or net subscriptions on a day the fund’s or class’s NAV is overstated) during the Error Period.

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • 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.

  • Supplemental Retirement Benefit In addition to the foregoing, Executive shall be eligible to participate in the Supplemental Executive Retirement Plan maintained by Cleco Utility Group Inc. or such other supplemental retirement benefit plans which the Company or its Affiliates may adopt, from time to time, for similarly situated executives (the "Supplemental Plan").

  • Life Annuity The monthly annuity shall be payable to the annuitant for as long as the annuitant lives, and shall end with the last monthly payment before the death of the annuitant.

  • Accrued Benefit 1.05 1.16 Nonforfeitable ............................................. 1.05 1.17 Plan Year/Limitation Year .................................. 1.05 1.18 Effective Date ............................................. 1.05 1.19 Plan Entry Date ............................................ 1.05 1.20

Time is Money Join Law Insider Premium to draft better contracts faster.