Actuarial cost method definition

Actuarial cost method means a technique which uses actuarial assumptions to measure the present value of future pension benefits and pension plan administrative expenses, and which assigns the cost of such benefits and expenses to cost accounting periods. The actuarial cost method includes the asset valuation method used to determine the actuarial value of the assets of a pension plan.

Actuarial cost method means a method for determining the actuarial present value of the obligations and administrative expenses of the SCRHI Trust Fund or LTDI Trust Fund and for developing an actuarially equivalent allocation of such value to time periods, usually in the form of a normal cost and an actuarial‑accrued liability. Acceptable actuarial methods are the aggregate, attained age, individual entry age, frozen attained age, frozen entry age, and projected unit credit methods.

Actuarial cost method means a technique which uses actuarial assumptions to measure the present value of future pension benefits and pension fund administrative expenses, and which assigns the cost of such benefits and expenses to cost accounting periods.

Examples of Actuarial cost method in a sentence

• Actuarial cost method The employer contribution rates effective July 1, 2017, through June 30, 2019, were set using the entry age normal actuarial cost method.

• Actuarial cost method: The actuarial cost method used is the entry age normal method.

• Actuarial cost method – Liabilities and contributions are computed using the Entry Age Normal Cost Method.Effective June 30, 2018, the Board adopted a layered unfunded accrued actuarial liability (UAAL) amortization method: Layer #1 equals the sum of (i) the UAAL at June 30, 2018 based on the 2017 valuation, plus (ii) the FY18 experience gain/loss.

• Actuarial cost method means a technique which uses actuarial assumptions to measure the present value of future pension benefits and pension plan administrative expenses, and that assigns the cost of such benefits and expenses to cost accounting periods.

• Actuarial cost method allocating normal costs over a period beginning no earlier than the date of employment which should not exceed the last assumed retirement age.

• Actuarial cost method: Accrued benefit obligations are computed using the projected benefit method pro rated on service, as defined in PSAB 3250 and PSAB 3255.

• Actuarial cost method – Liabilities and contributions in the report are computed using the Entry Age Normal Actuarial Cost Method, level percent of pay.

• Actuarial cost method – Entry Age Actuarial Cost method of funding.

• Actuarial cost method: Accrued benefit obligations are computed using the projected benefit method prorated on service, as defined in PSAB 3250 and PSAB 3255.

• Actuarial cost method The employer contribution rates effective July 1, 2015, through June 30, 2017, were set using the entry age normal actuarial cost method.

More Definitions of Actuarial cost method

Actuarial cost method means a mathematical process in which the cost of benefits projected to be paid after a period of active employment has ended is allocated over the period of active employment during which the benefits are earned.

Actuarial cost method means a method of determining the actuarial present value of the obligations and administrative expenses of the Trust and for developing an actuarially equivalent allocation of the value to time periods, usually in the form of a normal cost and an actuarial accrued liability. Acceptable actuarial methods are the aggregate, attained age, entry age, frozen attained age, frozen entry age, and projected unit credit methods.

Actuarial cost method means a method for determining the actuarial present value 1178 of the obligations and administrative expenses of the fund and for developing an 1179 actuarially equivalent allocation of such value to time periods, usually in the form of a 1180 normal cost and an actuarial accrued liability. Acceptable actuarial methods are the 1181 aggregate, attained age, entry age, frozen attained age, frozen entry age, and projected 1182 unit credit methods. 1183 (4) 'Actuarial valuation' means the determination, as of a valuation date, of the normal 1184 cost, actuarial accrued liability, actuarial value of assets, and related actuarial present 1185 values for the fund. 1186 (5) 'Actuarially sound' means that calculated contributions to the fund are sufficient to 1187 pay the full actuarial cost of the fund. The full actuarial cost includes both the normal 1188 cost of providing for fund obligations as they accrue in the future and the cost of 1189 amortizing the unfunded actuarial accrued liability over a period of no more than 30 1190 years. 1191 (6) 'Administrative expenses' means all expenses incurred in the operation of the fund, 1192 including all investment expenses. 1193 (7) 'Annual required contribution' means the amount determined in accordance with 1194 requirements of Governmental Accounting Standards Board Statement No. 43 or any 1195 subsequent Governmental Accounting Standards Board statements that may be applicable 1196 to the fund. 1197 (8) 'Board' means the Board of Community Health Reserved. 1198 (9) 'Commissioner' means the commissioner of community health administrative 1199 services. 1200 (10) 'Covered health care expenses' means all actual health care expenses incurred by the 1201 health plans on behalf of fund beneficiaries. Actual health care expenses include claims 1202 incurred by fund beneficiaries and providers and premiums incurred by intermediary 1203 entities and health care providers by the health plans. 1204 (11) 'Department' means the Department of Community Health Administrative Services. 1205 (12) 'Eligible to participate' means employees of employers who are participating in one 1206 of the health plans and those employees of employers who qualify to participate in the 1207 health plan but choose not to do so. 1208 (13) 'Employer' means the entity with which the fund beneficiary had the direct, in the 1209 case of employees, or indirect, in the case of dependents, employment relationship that 1210 gave rise to the fund beneficiary...

Actuarial cost method means a mathematical