Actuarially Calculated definition
Actuarially Calculated means calculated on the basis of the assumptions adopted by the Board on the recommendation of the Actuary appointed by the Board, using such reasonable assumptions as are acceptable to the Minister of National Revenue and which are in accordance with generally accepted actuarial principles.
Actuarially Calculated means calculated on the basis of actuarial assumptions adopted at the valuation of the Plan last preceding the calculation, unless the Board, on the recommendation of the Actuary, has approved the use of alternative actuarial assumptions.
Examples of Actuarially Calculated in a sentence
The retirement system includes a Deferred Retirement Option Plan (DROP) and an Actuarially Calculated Deferred Retirement Option Program as set forth in City Ordinance No. C-96-59.