Actuarial Valuation. A complete valuation shall be made periodically (but at least biannually) by a qualified actuary in order to determine the amount of the reserve prescribed in Section 9 of this Article and the City's contributions prescribed in Sections 2 and 4 of this Article.
Actuarial Valuation. An actuarial valuation of the fund is undertaken every three years by the funds actuary. The actuary balances the fund’s assets and liabilities in respect of each employer and assesses the appropriate contribution rate and deficit payment if appropriate for each employer for the subsequent three years. Administration Charge The cost of running the Nottinghamshire pension fund is charged directly to the fund, the actuary takes these costs into account in assessing employer’s contribution rates. Employer activities Communication Requirements – task Timescale Provide and publish policies in relation to all areas where the employing authority may exercise discretion within the scheme. A copy of the policy to be provided to the administrating authority Within 30 working days of policy being formally agreed by the employer. To be reviewed annually. Provide details of employer and employee contributions 17 of the month following deduction Respond to enquiries from administering authority Within 10 working days Provide year end information for the purposes of annual benefit statements, annual allowance, and lifetime allowance calculations By 30 April following the year end in the required format. (following the implementation of the employer portal information may be provided through the portal by April 2017) Provide year end information in a valuation year. By 30 April following the year end Distribute information provided by the Admin Authority to scheme members/potential scheme members which is provided either direct from Pensions Office or where notified through the website. Within 20 days of receipt or notification Provide new scheme members with scheme information and new xxxxxx forms At appointment of employee or change in contractual conditions. Inform the Pension Fund of all cases where prospective new employer or admitted body may join the fund. Notify the Pension Fund at least 3 months before the date of transfer. Payment of additional fund payments in relation to early payment of benefits. Within 30 working days of receipt of invoice from the pension fund/ within timescales specified in each case. Employer Responsibilities-Task Timescale New starters must be notified to the Pensions Office. 10 working days of the scheme member joining. Arrange for the correct deduction of employee contributions from scheme members pensionable pay on becoming a scheme member. Immediately upon commencing scheme membership either through auto enrolment opting in or change...
Actuarial Valuation. A statement setting forth the actuarial liabilities and contribution requirements for a defined benefit pension plan using a set of actuarial assumptions, demographic data and assets; all determined as of a specific date, certified by an Enrolled Actuary.
Actuarial Valuation. The GASB 45 valuation is a liability and expense study and is the focus of this proposal. Even though the GASB standardized accounting is for retiree welfare benefit costs, employers maintain certain flexibility in recognizing these liabilities and reflecting their substantive benefit commitments to their retirees. The postretirement health & welfare valuation process will consist of:
Actuarial Valuation. (a) The Board must have the Pension Plan reviewed, and the results of the review set out in the form of an actuarial valuation report for a going-concern valuation in the manner and at the times specified in the PBSA, the regulations under the PBSA and Appendix B.
Actuarial Valuation. As soon as practicable after the one hundred eightieth (180th) day following the Closing Date, Buyer shall cause an actuarial firm of national recognition (the "Buyer's Actuary") to perform a valuation (the "Actuarial Valuation") to compute the aggregate reported but unpaid and aggregate incurred but not reported claims of PCA-AL and PCA-GA as of the Closing Date (the "Actuarial IBNR"). Buyer shall deliver the results of the Actuarial Valuation to Seller immediately upon Buyer's receipt of such results. The Seller shall then have the right to have its own actuarial firm of national recognition (the "Seller's Actuary") review the results of the Actuarial Valuation. The costs associated with the procedures performed by the Buyer's Actuary shall be borne by the Buyer and those costs associated with the procedures performed by Seller's Actuary shall be borne by Seller. If Seller, within ten (10) days after its receipt of the Actuarial Valuation, disagrees with the computation of the Actuarial Valuation, Seller shall notify Buyer in writing of the details of such disagreement. If Buyer and Seller are unable to resolve such disagreement within ten (10) days after such notice to Buyer, the Buyer and the Seller shall choose an unrelated actuarial firm of national recognition within ten (10) days thereafter to resolve such dispute. Such unrelated firm shall resolve any such dispute within thirty (30) days after its engagement and its decision shall be final and binding on all parties. The fees and expenses of any such unrelated actuarial firm shall be shared equally by Seller and Buyer.
Actuarial Valuation. 8.1 The Trustees confirm that the next formal valuation of RPF is due as at 31 December 2007 and that they know of no reason why an emergency valuation should be undertaken at an earlier date, but reserve the right to call an earlier valuation if they become aware of events that have a significant impact on RPF’s funding position.
Actuarial Valuation. 2.1 This PARAGRAPH 2 applies where the Value of a Transferred Relevant Benefit or a Transferred Asset is to be determined.
Actuarial Valuation. (a) This Section 9.9 applies where the Value of a Relevant Benefit, a Transferred Relevant Benefit or a Transferred Asset is to be determined.
Actuarial Valuation. (i) Within 150 days of the start of each fiscal year, a report by an independent actuarial consulting firm of recognized national standing reviewing the adequacy of loss and loss adjustment expense reserves as at the end of the last fiscal year of each Regulated Insurance Company determined in accordance with SAP and stating an estimated amount of minimum reserves, it being agreed that in each case such independent firm will be provided access to or copies of all relevant valuations relating to the insurance business of each such Regulated Insurance Company in the possession of or available to the Borrower or its Subsidiaries and (ii) within 90 days of the start of each fiscal year a certification by an independent actuarial consulting firm of recognized national standing stating the adequacy of loss and loss adjustment expense reserves as at the end of the last fiscal year of each such Regulated Insurance Company determined in accordance with SAP.
