Actuarial Equivalency definition

Actuarial Equivalency or “Actuarially Equivalent” means a benefit of equivalent value to the benefit it replaces, as further provided in section 1:585.
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Actuarial Equivalency or “Actuarially Equivalent” means a benefit of equivalent value to the benefit it replaces based upon the following actuarial assumptions to be used by the Retirement System's actuary in determinations hereunder:
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Actuarial Equivalency means the Accrued Benefit payable at the Director’s Benefits Age which differs in time of payment from the specific benefit provided under the Director’s Joinder Agreement but having the same value when computed using pre-retirement and post-retirement interest of 5.75%.
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Examples of Actuarial Equivalency in a sentence

  • The Retirement Plan's Actuarial Equivalency factors shall be used to make this comparison.

  • Any change in the Actuarial Equivalency factors shall not become effective until the first day of the calendar year which follows the adoption of the amendment and providing at least thirty (30) days’ written notice of the amendment to the Executive.

  • The single sum amount shall be the present value of the benefit under this paragraph, determined by using the interest rate used in this Plan for determining Actuarial Equivalency.

  • Any change in the Actuarial Equivalency factors shall not become effective until the first day of the calendar year which follows the adoption of the amendment and providing at least thirty (30) days’ written notice of the amendment to the Director.

  • No amendment to the Plan (including a change in the Actuarial Equivalency for determining optional or early retirement benefits) will be effective to the extent that it has the effect of decreasing a Participant's accrued benefit.

  • The Actuarial Equivalency is defined in the same manner as the HMPP.

  • To determine the top heavy ratio, the Advisory Committee will use the following interest rate and mortality assumptions to value accrued benefits under a defined benefit plan: The actuarial assumption used for Actuarial Equivalency under the Farm Bureau Pension Plan.

  • The following assumptions shall be used to determine Actuarial Equivalency of benefits payable under the Plan with respect to Participants who are not credited with at least one Hour of Service after December 31, 1997, and Warehouse Participants: Interest: Six and one-half percent (6-1/2%).

  • The mortality table and interest rate in effect on that date shall be used in determining the Actuarial Equivalency of benefits payable in the form of an annuity; provided, that if a variable interest rate is used for purposes of converting a Retirement Account to any annuity form hereunder, the interest rate shall, to the extent required under Section 411(b)(5)(B)(vi)(II) of the Code, be equal to the average of such rates used under the Plan during the five-year period ending on the Plan termination date.

  • Any change in the Actuarial Equivalency factors shall not become effective until the first day of the calendar year which follows.


More Definitions of Actuarial Equivalency

Actuarial Equivalency means the Accrued Benefit payable at the Executive’s Benefits Age which differs in time of payment from the specific benefit provided under the Executive’s Joinder Agreement but having the same value when computed using pre-retirement and post-retirement interest of 5.75%.
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Actuarial Equivalency or "Actuarial Equivalent" means a benefit under which the present value of the expected payments is equal to the present value of the expected benefit otherwise payable under the Plan, determined on the basis of the following mortality and interest assumptions:
Sample 1
Actuarial Equivalency means an equivalent value or benefit determined by an actuary selected by Employer using the actuarial tables and assumptions being used to determine Actuarial Equivalency in the Qualified Retirement Plan at the time the determination is made.
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Related to Actuarial Equivalency

  • Actuarial equivalent means a benefit of equal value when

  • Actuarially Equivalent or "of equal actuarial value" means a benefit of equal value

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Lump Sum means the total sum which will have become payable to the Contractor by the Principal upon completion of the Works.

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • Normal Retirement Benefit means an annual benefit equal to One Hundred Fifty Thousand Dollars and No/100 ($150,000.00) per year, payable in accordance with the terms of this Agreement. Beginning on the thirteenth month that the Normal Retirement Benefit is paid, and continuing thereafter until paid in full, the Normal Retirement Benefit shall be increased annually by three percent (3%) from the previous year’s Normal Retirement Benefit amount to account for cost of living increases.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Actuarial method means the method of allocating a fixed level monthly payment on an obligation between principal and interest, pursuant to which the portion of such payment that is allocated to interest is equal to the product of (a) 1/12, (b) the fixed annual rate of interest on such obligation and (c) the outstanding principal balance of such obligation.

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Single Life Annuity means a Participant’s Grandfathered Benefit and/or 409A Benefit, as applicable, payable as an annuity in equal monthly installments over the life of the Participant, commencing as of the Payment Date and terminating in the month in which the Participant dies, with no further payments thereafter.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • life annuity means an annuity payable under a policy issued to an SRS member for a term ending with, or at a time ascertainable only by reference to, the end of his life;

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Actuarial valuation means a mathematical determination of

  • Termination Benefit means the benefit set forth in Article 7.

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—

  • Change in Control Benefit means the benefit described in Section 2.4.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Maximum Benefit means the maximum benefit amount of each of the benefits covered under this Policy as stated in the Schedule of Benefits.

  • relevant benefit means any benefit specified in paragraph 21(2); and

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.