Actuarial Equivalence definition

Actuarial Equivalence means two benefits of equal actuarial present value based on the actuarial factors and assumptions specified in the provision in which that phrase is used or, if not otherwise specified, based on the assumptions described in this Section.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Actuarial Equivalence means that two or more benefit plans provide the same expected value of benefits in total (as determined through generally accepted actuarial principles), though the specific benefits within those plans may differ. The actuarial analysis to determine actuarial equivalence shall take into account the net value of all benefits including deductibles, coinsurance, and out-of-pocket maximums.

Actuarial Equivalence. ’ means a state of equivalent values demonstrated through the use of generally accepted actuarial principles and in accordance with section 1860D–11(c) of the Act and

Examples of Actuarial Equivalence in a sentence

• The assumptions used for the calculation shall be the interest and post-retirement mortality assumptions used in determining Actuarial Equivalence.

• Not Included Included subject to the following limits: (Select all that apply) -- A maximum percent ( %) of such Limited Credited Service -- A maximum ( ) years of such Limited Credited Service Not permitted to purchase such Credited Service Member is permitted to purchase such Credited Service as follows: (Select one) -- percent ( %) of the Actuarial Equivalence of the Service to be purchased.

• Any change in the insurance or annuity contract, including the substitution of a different contract, that results in a change in the interest and mortality assumptions used to determine Actuarial Equivalence under the Plan shall be treated as an amendment of the Plan for purposes of Section 1.4 of the Plan.

• The actuarial reductions and adjustments describe above will be based on the Pension Plan’s definition of Actuarial Equivalence.

• For any purpose other than described in Section 1.1(b)(iii) above, Actuarial Equivalence shall be determined under Section 1.1(b)(i) above.

More Definitions of Actuarial Equivalence

Actuarial Equivalence means an actuarially equivalent amount determined using the 1983 Group Annuity Mortality (GAM) table blended 50% Male and 50% Female, and interest rate of 7% per annum.

Actuarial Equivalence means, for the purposes of establishing the present value of a stated benefit, the present value determined by discounting all future payments for interest and mortality on the following:

Actuarial Equivalence means an amount of equivalent value determined by reference to a specified set of conversion or reduction factors. In determining either the amount of any reduction in benefit amount or the amount of a benefit payable under the Plan in an optional form, actuarial equivalence shall be determined by applying the conversion factors set forth in the Wyeth Retirement Plan.

Actuarial Equivalence or “Actuarial Equivalent” means equality in value of the aggregate amounts expected to be received under different forms of payment computed on the following bases:

Actuarial Equivalence means present values calculated using the interest rate on 30-year treasury securities for the month prior to the first day of the plan year, as prescribed by the Retirement Protection Act of 1994, and the 1983 Group Annuity Mortality Tables used for lump sum purposes under the Retirement Protection Act of 1994.

Actuarial Equivalence means two benefits of equal Actuarial Present Value based on the actuarial factors and assumptions specified in the provision in which “Actuarial Equivalence” is used, or if not otherwise specified, based on the assumptions described in Section 1.2.

Actuarial Equivalence means