Actuarially Adjusted definition

Actuarially Adjusted means, for purposes of determining the deferred retirement benefit under Section 4.3, the adjustment based on the mortality table and interest rate used to determine a lump sum benefit under the CFC Retirement Plan as of the date of a Participant’s Retirement Date. For purposes of determining the death benefit under Section 4.4, “Actuarially Adjusted” means the adjustment based on the mortality table and interest rate used by the CFC Retirement Plan to determine optional forms of benefit payments.

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Actuarially Adjusted means making one benefit of equivalent value to another benefit using the interest rate and mortality assumptions then in effect under the Company’s nonqualified pension plans. Payments of the Supplemental Retirement Benefit will be made from the Company’s general assets, and not from any trust funding the Company’s pension plans.

Actuarially Adjusted means making one benefit of equivalent value to another benefit using the interest rate and mortality assumptions then in effect under the Company's pension plans; provided, however, that in no event shall this paragraph's language requiring that such Supplemental Retirement Benefit payments be "Actuarially Adjusted" or "Actuarially Equivalent" result in the payment of less than $300,000 of combined annual pension benefits to Executive under this Agreement's Supplemental Retirement Benefit provisions and the Company's pension plans once Executive has completed the two years of continuous employment with the Company required in paragraph (a) above. If Executive dies prior to retiring or otherwise terminating his employment with the Company, his surviving spouse (if any) shall be entitled to receive payment of that portion of the Supplemental Retirement Benefit earned prior to his date of death she would have received if Executive's employment had terminated due to Disability on the day immediately preceding his date of death and he had elected to receive payment of his Supplemental Retirement Benefit in the form of an Actuarially Equivalent 50% joint and survivor annuity. Payments of the Supplemental Retirement Benefit will be made from the Company's general assets, and not from any trust funding the Company's pension plans.

Examples of Actuarially Adjusted in a sentence

• Payment of the Supplemental Retirement Benefit shall begin at the same time as and shall be made in the same form as Executive receives payment of his monthly benefits from the Company's pension plans; provided, however, that the amount of such monthly Benefit payments shall be Actuarially Adjusted in the event payment begins before Executive has attained age 60 or payment is made in a form other than an annuity payable over his lifetime.

• Payment of the Supplemental Retirement Benefit shall be made in the form of a single lump sum cash amount equal to the Actuarially Equivalent present value of the annuity described in Section 9(a); provided, however, that the amount of such monthly annuity payments shall be Actuarially Adjusted in the event payment begins before Executive has attained age 60.

• Payment of the Supplemental Retirement Benefit shall begin at the same time as and shall be made in the same form as Executive receives payment of his monthly benefits from the Company's pension plans; provided, however, that the amount of such monthly Benefit payments shall be Actuarially Adjusted in the event payment begins before Executive has attained age 62 or payment is made in a form other than an annuity payable over his lifetime.

• For purposes of the Supplemental Retirement Benefit, the terms "Actuarially Equivalent" or "Actuarially Adjusted" shall mean making one benefit of equivalent value to another benefit using the interest rate and mortality assumptions then in effect under the Company's pension plans.

More Definitions of Actuarially Adjusted

Actuarially Adjusted or "Actuarially Equivalent" result in the payment of less than $300,000 of combined annual pension benefits to Executive under this Agreement's Supplemental Retirement Benefit provisions and the Company's pension plans once Executive has completed the two years of continuous employment with the Company required in paragraph (a) above. If Executive dies prior to retiring or otherwise terminating his employment with the Company, his surviving spouse (if any) shall be entitled to receive payment of that portion of the Supplemental Retirement Benefit earned prior to his date of death she would have received if Executive's employment had terminated due to Disability on the day immediately preceding his date of death and he had elected to receive payment of his Supplemental Retirement Benefit in the form of an Actuarially Equivalent 50% joint and survivor annuity. Payments of the Supplemental Retirement Benefit will be made from the Company's general assets, and not from any trust funding the Company's pension plans.