Entry age actuarial cost method definition

Entry age actuarial cost method means an actuarial cost method under which the actuarial present value of the projected benefits of each individual currently covered by the benefit plan and included in the actuarial valuation is allocated on a level basis over the service of the individual, if the benefit plan is governed by section 69.773, or over the earnings of the individual, if the benefit plan is governed by any other law, between the entry age and the assumed exit age, with the portion of the actuarial present value which is allocated to the valuation year to be the normal cost and the portion of the actuarial present value not provided for at the valuation date by the actuarial present value of future normal costs to be the actuarial accrued liability, with aggregation in the calculation process to be the sum of the calculated result for each covered individual and with recognition given to any different benefit formulas which may apply to various periods of service.
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Entry age actuarial cost method means a method of determining the normal cost and is determined as a level percentage of pay that, if paid from entry age to the assumed
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Entry age actuarial cost method means an actuarial cost method under which the actuarial present value of the projected benefits of each
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Examples of Entry age actuarial cost method in a sentence

  • The following provides additional information regarding the actuarial methods and assumptions.ACTUARIAL METHODSActuarial Cost Method — Entry age actuarial cost method, level percent of payroll.Plan Funding — The change in the unfunded actuarial accrued liability (UAAL) attributable to each year is amortized over a closed 20-year period as a level percent of covered payroll, except for the following situations.

  • Actuarial cost method – Entry age actuarial cost method of funding.

  • The operational areas of LEUNA-Harze GmbH are subject to the application of the Accident Regulation.

  • The following provides additional information regarding the actuarial methods and assumptions.ACTUARIAL METHODSActuarial Cost Method — Entry age actuarial cost method, level percent of payroll.Plan tfunding — The change in the unfunded actuarial accrued liability (UAAL) attributable to each year is amortized over a closed 20-year period as a level percent of covered payroll, except for the following situations.

  • See page XII-10 for additional explanation, and ii) Entry age actuarial cost method reflecting additional future normal cost savings anticipated to occur as Group A and Group B members are replaced by new hires subject to Group C benefit provisions.

  • When OHCHR was given opportunities and financial resources to work directly in-country, closer to the realities on the ground, trust and reliance on its expertise developed very quickly, as the Board had observed from the discussions with national actors.

  • Total Employer Contribution Rate14.00%14.00%14.00%18.10%18.10%18.10%14.17%14.18%14.18% Based on i) schedule of employer and member contribution rates shown on page III-4 and ii) Entry age actuarial cost method reflecting additional future normal cost savings anticipated to occur as Traditional and Combined Plan Group A, B and C members are replaced by new hires subject to Traditional Plan Group C benefit provisions.

  • Total Employer Contribution Rate14.00% 14.00% 14.00% 14.00% * Based on i) schedule of employer and member contribution rates shown on page III-4 and ii) Entry age actuarial cost method reflecting additional future normal cost savings anticipated to occur as Group A and Group B members are replaced by new hires subject to Group C benefit provisions.

  • Total Employer Contribution Rate14.00% 14.00% 14.00% 18.10% 18.10% 18.10% 14.18% 14.17% * Based on i) schedule of employer and member contribution rates shown on page III-4 and ii) Entry age actuarial cost method reflecting additional future normal cost savings anticipated to occur as Group A and Group B members are replaced by new hires subject to Group C benefit provisions.

  • See page XII-10 for additional explanation, and ii) Entry age actuarial cost method reflecting additional future normal cost savings anticipated to occur as Group A and Group B members are replaced by new hires subject to Group C benefit provisions.# 2016 and 2017 results reflect 0% for Combined Plan members.

Related to Entry age actuarial cost method

  • Actuarial method means the method of allocating a fixed level payment on a Receivable between principal and interest, pursuant to which the portion of such payment that is allocated to interest is the product of one-twelfth (1/12) of the APR on the Receivable multiplied by the scheduled principal balance of the Receivable.

  • Actuarial valuation means a mathematical determination of

  • Net Benefits Test means a calculation to determine whether the benefits of a reduction in price resulting from the dispatch of Economic Load Response exceeds the cost to other loads resulting from the billing unit effects of the load reduction, as specified in Operating Agreement, Schedule 1, section 3.3A.4 and the parallel provisions of Tariff, Attachment K-Appendix, section 3.3A.4.

  • qualifying age for state pension credit means (in accordance with section 1(2)(b) and (6) of the State Pension Credit Act 2002)—

  • MBA Delinquency Method Under the MBA Delinquency Method, a loan due on the first of the month is considered 30 days delinquent when all or part of one or more payments remains unpaid as of close of business on the last Business Day of such month.

  • Actuarial Standards Board means the board established by the American Academy of Actuaries to develop and promulgate standards of actuarial practice.

  • Basic Plan means as to any Member or Vested Former Member the defined benefit pension plan of the Company or an Affiliated Employer intended to meet the requirements of Code Section 401(a) pursuant to which retirement benefits are payable to such Member or Vested Former Member or to the Surviving Spouse or designated beneficiary of a deceased Member or Vested Former Member.

  • Actuarial certification means a written statement by a member of the American Academy of

  • Reference method means any direct test method of sampling and analyzing for an air pollutant as specified in 40 CFR 60, Appendix A*.

  • Applicable Mortality Table means the 1983 Group Annuity Mortality Table; and

  • Actuarial equivalent means a benefit of equal value when

  • Single Life Annuity means an annuity payable for the life of a Participant.

  • Certified Remanufacture System or Verified Engine Upgrade means engine upgrades certified or verified by EPA or CARB to achieve a reduction in emissions.

  • Yearly (1/Year) sampling frequency means the sampling shall be done in the month of September, unless specifically identified otherwise in the effluent limitations and monitoring requirements table.

  • Actuarial Receivable means any Receivable under which the portion of a payment with respect thereto allocable to interest and the portion of a payment with respect thereto allocable to principal is determined in accordance with the Actuarial Method.

  • Method Detection Level or “MDL” means the minimum concentration of an analyte (substance) that can be measured and reported with a ninety- nine percent (99%) confidence that the analyte concentration is greater than zero (0) as determined by procedure set forth in 40 CFR 136, Appendix B. The method detection level or MDL is equivalent to the LOD.

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

  • Average Actual Deferral Percentage means the average (expressed as a percentage) of the Actual Deferral Percentages of the Eligible Participants in a group.

  • Disability Support Pension means the Commonwealth pension scheme to provide income security for persons with a disability as provided under the Social Security Act 1991, as amended from time to time, or any successor to that scheme.

  • 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

  • Qualified Plan means a Pension Plan that is intended to be tax-qualified under Section 401(a) of the IRC.

  • Small employer carrier means any carrier that offers health benefit plans covering eligible employees of one or more small employers in this state.

  • Baseline actual emissions means the rate of emissions, in tons per year, of a regulated NSR pollutant, as determined in accordance with paragraphs (i) through (iv) of this definition.

  • Average Monthly Compensation means the quotient determined by dividing the sum of the Employee’s then current Base Salary (as defined in Section 4.1 hereof) and the greater of the most recently paid Incentive Compensation (as defined in Section 4.2 hereof) or the average of Incentive Compensation paid over the three most recent years by twelve.

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—