Actuarial Value definition
Actuarial Value means the equivalent cash value of a benefit (including, where appropriate, provision for any revaluation of such benefit) under a scheme calculated by reference to appropriate financial assumptions and making due allowance for the probability of survival to normal pensionable age and thereafter in accordance with normal life expectancy on the assumption that the member concerned of the scheme, at the effective date of calculation, is in a normal state of health having regard to his or her age;
Actuarial Value means the percentage of the total expected
Actuarial Value means the value of a benefit, when computed on the date of such determination, on the basis of the actuarial assumptions used to determine Actuarial Equivalence.
Examples of Actuarial Value in a sentence
Actuarial value shall be calculated in accordance with generally accepted actuarial principles and methodologies.
More Definitions of Actuarial Value
Actuarial Value means the expected financial value for the average member of a particular benefit plan.
Actuarial Value or “AV” means the percentage paid by a health benefit plan of the total allowed costs of benefits.
Actuarial Value means the level of coverage of a plan, determined on the basis that
Actuarial Value means the single sum value of a benefit under the Plan determined by the same actuarial adjustments as those specified in the Pension Plan with respect to the determination of the single sum value of a benefit payable under the Pension Plan on the date for commencement of payment of the benefit under this Plan.
Actuarial Value means an equivalent lump sum value as of the Benefit Commencement Date using the average 30-year Treasury Rate for the month of August immediately preceding the calendar year the determination is made and the GAR 94 mortality table (50% male, 50% female).
Actuarial Value means the percentage of total average costs for covered benefits
Actuarial Value means the level of coverage provided by an issuer of a health insurance plan's benefits, as further defined in 42 U.S.C. § 18022(d) and regulations adopted thereunder.