Actuarial accrued liability definition
Actuarial accrued liability means that portion, as determined by a particular actuarial cost method, of the actuarial present value of fund obligations and administrative expenses which is not provided for by future normal costs.
Actuarial accrued liability means the portion of the actuarial present value of projected benefits attributed to past periods of member service based on the cost method used in the risk sharing valuation study prepared under Section 9A or 9B of this article, as applicable; and
Actuarial accrued liability means pension cost attributable, under the actuarial cost method in use, to years prior to the current period considered by a particular actuarial valuation. As of such date, the actuarial accrued liability represents the excess of the present value of future benefits and administrative expenses over the present value of future normal costs for all plan participants and beneficiaries. The excess of the actuarial accrued liability over the actuarial value of the assets of a pension plan is the unfunded actuarial liability. The excess of the actuarial value of the assets of a pension plan over the actuarial accrued liability is an actuarial surplus and is treated as a negative unfunded actuarial liability.
More Definitions of Actuarial accrued liability
Actuarial accrued liability as used in this section, means "Actuarial Accrued Liability" as that term is defined under GASB No. 45.
Actuarial accrued liability means the portion of
Actuarial accrued liability as used in this section, means “Actuarial Accrued Liability” as that term is defined under GASB No. 45 as may be amended from time to time.
Actuarial accrued liability. (AAL) means the actuarial accrued liability determined in accordance with the Actuarial Cost Method outlined this Policy.
Actuarial accrued liability means that portion, as determined by a particular actuarial cost method, of the actuarial present value of Trust obligations and administrative expenses which is not provided by future normal costs.
Actuarial accrued liability means the portion of the present value of projected retirement benefits which is not provided for by future Normal Costs, as determined by LACERA's actuary
Actuarial accrued liability means the portion of the actuarial present value of projected benefits attributed to past periods of member service based on the cost method used in the risk sharing valuation study; and