actuarially equivalent amount definition

actuarially equivalent amount means the portion of the participant's benefit transferred to an alternate payee and actuarially adjusted to provide a benefit payable for the alternate payee's lifetime;
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actuarially equivalent amount means for purposes of converting from one form of annuity to another or when changing from one Annuity Starting Date to another an amount equal in value under the assumptions that (i) money increases at the rate of 7.0% per year, compounded annually, and (ii) mortality will occur in accordance with the 1984 Unisex Pension Mortality Table . Notwithstanding the foregoing, (i) for purposes of the limitations of subsection 6(a), the mortality table and interest rate specified therein shall apply; (ii) the present value of a single sum or lump sum distribution shall be determined using the mortality table and interest rate specified in subsection 9(f); and (iii) the amount of any optional form of settlement may not be less than the amount determined under subsection 5(a)(iv).
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Examples of actuarially equivalent amount in a sentence

  • Notwithstanding subsection 9(d)(i), the Committee shall direct that any Member who has terminated employment with all Participating Companies and Related Entities with a nonforfeitable Accrued Benefit having a present value of $3,500 or less on the date the amount is paid receive the Actuarially Equivalent Amount thereof in a single lump sum in cash.

  • His Accrued Benefit upon subsequent termination of service shall be reduced by the Actuarially Equivalent Amount of his previously distributed Accrued Benefit.

  • The preceding subsection shall be exclusively effective with respect to converting an Accrued Benefit to an Actuarially Equivalent Amount lump sum distributed on or after February 28, 2002.

  • Option D (Small Lump Sum): A Member may elect to receive benefits in one lump sum if the Actuarially Equivalent Amount of his Accrued Benefit is $10,000 or less.

Related to actuarially equivalent amount

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

  • Actuarial equivalent means a benefit of equal value when

  • Equivalent Amount of any currency with respect to any amount of Dollars at any date shall mean the equivalent in such currency of such amount of Dollars, calculated on the basis of the Exchange Rate for such other currency at 11:00 a.m., London time, on the date on or as of which such amount is to be determined.

  • Lump Sum means the total sum which will have become payable to the Contractor by the Principal upon completion of the Works.

  • SPS AER Value means the Underlying Reference Value.

  • Recovered tax increment value means, except as otherwise

  • Aggregate Industry Equivalent Unit Score is then calculated for each S&P Industry Classification, shown on Schedule 2, and is equal to the sum of the Equivalent Unit Scores for each issuer in such industry classification group.

  • Interest Equivalent means a yield on a 360-day basis of a discount basis security which is equal to the yield on an equivalent interest-bearing security.

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Lump Sum Payment means, collectively, the lump-sum payments that may be payable to Executive pursuant to the first sentence of Subsection 6(b)(iii) and pursuant to Subsection 6(c)(ii)(B).

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Actuarial valuation means a mathematical determination of

  • Therapeutically equivalent means a drug product with the same efficacy and toxicity when administered to an individual as the originally prescribed drug as provided for in Section 39‑24‑40.

  • Dollar Equivalent Amount means (i) with respect to any amount of Alternate Currency on any day, the equivalent amount in Dollars of such amount of Alternate Currency as determined by the Administrative Agent using the applicable Exchange Rate on such day and (ii) with respect to any amount of Dollars, such amount.

  • Present Value means the amount as of a date certain of one or more sums payable in the future, discounted to the date certain. The discount is determined by the interest rate specified by the parties if the rate was not manifestly unreasonable at the time the transaction was entered into; otherwise, the discount is determined by a commercially reasonable rate that takes into account the facts and circumstances of each case at the time the transaction was entered into.

  • FR Value means, in respect of a ST FR Valuation Date, Worst Value.

  • Deferred Amount With respect to any Distribution Date and each Class of the Subordinate Certificates, the amount by which (x) the aggregate of Applied Loss Amounts previously applied in reduction of the Class Principal Amount thereof exceeds (y) the sum of (1) the aggregate of amounts previously reimbursed in respect thereof and (2) the amount by which the Class Principal Amount of such Class has been increased due to any Subsequent Recovery.

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

  • SAR Value means the excess of the Fair Market Value (on the exercise date) over the exercise price that the participant would have otherwise had to pay to exercise the related Stock Option, multiplied by the number of shares for which the Stock Appreciation Right is exercised.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Spousal equivalent means a cohabitant occupying a relationship generally equivalent to that of a spouse.

  • Normal Retirement Benefit means an annual benefit equal to One Hundred Fifty Thousand Dollars and No/100 ($150,000.00) per year, payable in accordance with the terms of this Agreement. Beginning on the thirteenth month that the Normal Retirement Benefit is paid, and continuing thereafter until paid in full, the Normal Retirement Benefit shall be increased annually by three percent (3%) from the previous year’s Normal Retirement Benefit amount to account for cost of living increases.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • Early Retirement Benefit means the retirement benefit payable to a member following early