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.
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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.
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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.

Related to Actuarially Calculated

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

  • Actuarial valuation means a mathematical determination of

  • Actuarial equivalent means a benefit of equal value when

  • 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.

  • How We Will Calculate Your Balance We use a method called "average daily balance (including new purchases)." See Your Account Agreement for details.