Actuarially Reduced definition

Actuarially Reduced means the present value of Participant's Retirement Benefit as set forth in Item 3(a) of his or her Plan Agreement at the time of Participant's Early Retirement Date (or other applicable time) using a discount rate equal to the Aa Corporate Bond Rate as published by Moody's Investors Services, Inc. or its successor as of the date of Early Retirement (or other applicable date).
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Actuarially Reduced means reduced to the actuarial equivalent.
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Actuarially Reduced means the present value of Participant's Retirement Benefit as set forth in Item 3(a) of his or her Plan Agreement at the time of Participant's Early Retirement Date using a discount rate as determined by the Committee in its sole and absolute discretion not to exceed the Monthly Average of the Composite Yield on Seasoned Corporate Bonds as published by Moody's Investors Services, Inc. or its successor as stated for the month of October preceding December 31 of the year immediately prior to the date of Early Retirement.
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Examples of Actuarially Reduced in a sentence

  • Employees may retire on or after July 1, 1992, with 25 years of credited service but less than 30 and receive an actuarially reduced pension which shall be known as the Actuarially Reduced 25 Year Option of the Retirement Plan.

  • Teachers can also, if they so wish, take advantage of either the Winding Down scheme or the Actuarially Reduced Pension scheme.

  • Employees shall first become eligible for the extended severance pay benefit in the school year the employee first meets STRS eligibility requirements for either the Actuarially Reduced Benefit or the Unreduced Benefit, for which the rules are as prescribed in the tables below: *In the event the charts are modified by STRS, such modification shall become part of this provision.

  • Teachers currently taking early retirement under the Actuarially Reduced Benefits option have their entire pension benefits reduced.

  • If a Participant who Retires on or after reaching his or her Early Retirement Date elects to have the Retirement Allowance commence prior to his or her Normal Retirement Date, the amount of the Participant's Retirement Allowance shall be Actuarially Reduced (in order to reflect early commencement of payments).

  • However, the Participant's future Retirement Allowance shall be Actuarially Reduced or offset, if and as necessary, to avoid duplication of any Retirement Allowance previously paid to the Participant.

  • Actuarially Reduced Pension (ARP) – this is voluntary early retirement whereby employees, who are members of the STPS, can retire with actuarially reduced benefits.

  • The process for identifying vacancies will take into account matters such as school roll fluctuations, applications for Actuarially Reduced Pension and Winding Down.

Related to Actuarially Reduced

  • Actuarial equivalent means a benefit of equal value when

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

  • Actuarial valuation means a mathematical determination of

  • 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.

  • 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.