Actuarially Equivalent or "of equal actuarial value" means a benefit of equal value
Actuarially Equivalent or “of equal actuarial value” 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, “actuarially equivalent” shall be computed using the mortality tables and interest rates required to comply with those requirements.
Actuarially Equivalent means a benefit of equivalent value to another benefit, determined on the following basis:
Examples of Actuarially Equivalent in a sentence
Actuarially equivalent optional benefit forms are also available.
The Court held that state law (which required both filing and service within the statutory period) governed, barring plaintiff’s action.In the federal question action, the courts of appeals have gen- erally held that Rule 3 governs, so that the filing of the com- plaint tolls a statute of limitation.
Actuarially equivalent options are available to provide post-retirement beneficiary or survivor benefits.
Actuarially equivalent life with ten-year or twenty-year certain options.
The intervening negligence of a third party will only be sufficient to break the chain of causation if the third party’s conduct was not reasonably foreseeable by the defendant at the time of its own negligence.
More Definitions of Actuarially Equivalent
Actuarially Equivalent means a benefit of equivalent value, but of different form of payment to a specified benefit, as determined on a basis of calculation adopted by the Company on the advice of the Actuary and in effect on the date such determination is being made. Notwithstanding the foregoing, the Company may adopt a basis that eases the administration of the Plan, including the use of unisex factors, provided that such basis is not precluded by Applicable Pension Laws or Revenue Rules.
Actuarially Equivalent means a benefit of equivalent value but of different form of payment to a specified benefit, as determined on a basis of calculation adopted by the University on the advice of the Actuary and which is in accordance with Applicable Pension Laws and Revenue Rules, and in effect on the date such determination is being made. Notwithstanding the foregoing, the University may adopt a basis that eases administration of the Plan, including the use of unisex factors, provided that such basis is not precluded by Applicable Pension Laws and Revenue Rules.
Actuarially Equivalent means, with respect to any distribution or payment, an actuarially equivalent amount, calculated by using the annual interest rate on 30-year Treasury securities for the second month preceding the calendar year in which such distribution is made or commences, and the mortality table prescribed for purposes of section 417(e)(3)(A)(ii)(I) of the Internal Revenue Code of 1986, as amended (the "Code"). Such annual interest rate and mortality table shall be as specified or prescribed by the Commissioner of the Internal Revenue Service for purposes of Section 417(e)(3)(A)(ii) of the Code in revenue rulings, notices or other guidance.
Actuarially Equivalent or "Actuarial Equivalence" means a benefit or an amount having the same actuarial value as another stated benefit or amount, as determined by the Actuary pursuant to the mortality tables and interest rates set forth on Schedule
Actuarially Equivalent means of equal actuarial present value determined as of a given date with each value based on the same set of actuarial assumptions. When used in this Arti- cle in reference to rates and coverage, “actuarially equivalent” means a rate or coverage that is actuarially determined to yield loss ratios of 50% for credit life insurance and 60% for credit disability insurance.
Actuarially Equivalent means a benefit of equiva‑ lent value but of different form of payment to a specified benefit, as determined on a basis of calculation adopted by the Company on the advice of the Actuary and in effect on the date such determination is being made, provided that such basis is in accordance with Applicable Pension Laws and provided further that the basis used for purposes of de‑ termining the commuted value of a benefit shall be the fair market value of such benefit on the date such determination is being made.
Actuarially Equivalent when used with respect to a specified benefit shall mean the amount of benefit of a different type or payable at a different age that can be provided at the same cost as such specified benefit, as computed by the Actuary. The actuarial assumptions used to determine equivalencies between different forms of annuities under the Plan shall be the 1984 Unisex Pensioners Mortality 50% male, 50% female calculation (with males set back one year and females set back five years), with interest at an annual rate of 7%. The term "Actuary" shall mean the individual actuary or actuarial firm selected by Company to service its pension plans generally or if no such individual or firm has been selected, an individual actuary or actuarial firm appointed by Company and reasonably satisfactory to Executive and/or his spouse.