Actuarial equivalent definition

Actuarial equivalent means a benefit of equal value when

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Actuarial equivalent means equality in present value of the

Actuarial equivalent means a benefit of equal value when computed upon the

Examples of Actuarial equivalent in a sentence

• Actuarial equivalent shall be determined using the applicable interest rate under Section 417(e)(3) of the Code and, for purposes of determining present value (and not the amount of the installments), the applicable mortality table under Section 417(e)(3) of the Code, in both cases prior to amendment by the Pension Protection Act of 2006 if the Applicable Date is prior to December 1, 2008, consistent with the methodology shown in the example attached hereto as Exhibit A.

• Actuarial equivalent shall be determined using the same actuarial assumptions set forth in the Cash Balance Plan; provided, however, that before the lump sum conversion is effected under subparagraph (i) above, the benefit under such subparagraphs shall be reduced by four-twelfths (4/12ths) of one (1) percent for each month that the Executive's age at the date of his employment termination precedes the Executive's attainment of age sixty-two (62).

• Actuarial equivalent of vested deferred pension payable at age 65.

More Definitions of Actuarial equivalent

Actuarial equivalent means a benefit of equal value when computed upon the basis of actuarial

Actuarial equivalent means a benefit of equal value

Actuarial equivalent means a benefit of equal value when computed upon the basis of the mortality

Actuarial equivalent means a benefit of equal value when computed upon the basis of actuarial tables adopted by the board. In cases of disability retirement, the options authorized by KRS 61.635 shall be computed by adding ten (10) years to the age of the member, unless the member has chosen the Social Security adjustment option as provided for in KRS 61.635(8), in which case the member's actual age shall be used. For members who began participating in the system prior to January 1, 2014, no disability retirement option shall be less than the same option computed under early retirement;

Actuarial equivalent means a payment or series of payments having the same value as the

Actuarial equivalent means a payment or series of payments having the same value as the payment or series of payments replaced, computed on the basis of interest rate and mortality as- sumptions adopted by the board.

Actuarial equivalent means a benefit of equal value computed upon the basis of the mortality table and interest rates as set and adopted by the retirement board in accordance with the provisions of this article: Provided, That when used in the context of compliance with the federal maximum benefit requirements of Section 415 of the Internal Revenue Code, "actuarial equivalent" shall be computed using the mortality tables and interest rates required to comply with those requirements.