Actuarial Gain and Loss- A measure of the difference between actual Sample Clauses

Actuarial Gain and Loss- A measure of the difference between actual experience and that expected based upon a set of actuarial assumptions, during the period between two actuarial valuation dates, as determined in accordance with the frozen entry age actuarial cost method. The effect on the actuarial present value of future normal costs resulting from changes in the actuarial assumptions, the actuarial cost method, or plan provisions should be described as such, and are not treated as actuarial gains or losses. Actuarial gains and losses are recognized through a reduction or increase in future normal cost. The elements of experience generally include but are not limitedto: • Rate of investment return (based on actuarial value of assets)• Rate of salary increase• Rate of Member deaths, disabilities, withdrawals, and retirements• Expense Levels• Marital status and age of spouse