Estimated Future Liability definition

Estimated Future Liability means the Income Stabilization Payments anticipated to be made from GRS or PFRS, as applicable, in the future in order for the respective Retirement System to fulfill the obligation to make Income Stabilization Payments, as determined by the respective Retirement System's board of trustees in the year 2022, provided that the State has not issued a certificate of default under the State Contribution Agreement with respect to the Retirement System at any time prior to 2022.
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Estimated Future Liability means the highest liability expected at any point during the two-year period following the valuation date of the study. Normally this will be the unpaid loss liability expected at the end of the two-year period, but it could be the liability expected at some other point during the period. If exposures decrease during the period, for example, the highest expected liability may occur at the beginning of the period. A one-year period may be used for determining estimated future liability when actuarial studies are prepared annually.
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Examples of Estimated Future Liability in a sentence

  • It is recommended that the Board review the Public Self-Insurer’s Annual Report for Fiscal Year 2014-15, and acknowledge the Estimated Future Liability as reported to the State.

  • Item 3.i: The Board received and reviewed the Public Self-Insurer’s Annual Report for Fiscal Year 2014-15, and acknowledged the Estimated Future Liability of $2,318,650 as reported to the State.

  • RECOMMENDATION: It is recommended that the Board review the Public Self-Insurer’s Annual Report for Fiscal Year 2013-2014, and acknowledge the Estimated Future Liability of $1,961,900 as reported to the State.

  • It is recommended that the Board review the Public Self-Insurer’s Annual Report for Fiscal Year 2015-16, and acknowledge the Estimated Future Liability as reported to the State.

  • It is recommended that the Board review the Public Self-Insurer’s Annual Report for Fiscal Year 2021-22 and acknowledge the Estimated Future Liability of$1,371,524 as reported to the State of California, Department of Industrial Relations, Division of Self-Insurance Plans.

  • Table 3: Estimated Future Liability by Dept – Total Incurred Estimated Future Liability by Dept The estimated future liabilities of claims are measured for the life of the claim which may last many years.

Related to Estimated Future Liability

  • Common expense liability means the liability for common

  • Excluded Liability means any liability that is excluded under the Bail-In Legislation from the scope of any Bail-In Action including, without limitation, any liability excluded pursuant to Article 44 of the Bank Recovery and Resolution Directive.

  • BRRD Liability means a liability in respect of which the relevant Write Down and Conversion Powers in the applicable Bail-in Legislation may be exercised.

  • Liability Cap has the meaning ascribed to it in paragraph 1 of Schedule 9;

  • Unpaid estimated income tax means estimated income tax due but not paid by the date the tax is required to be paid under applicable law.

  • Maximum Liability has the meaning assigned to such term in Section 10.10.

  • Indemnity Amount means the amount of any indemnification obligation payable under the Basic Documents.

  • Net operating loss means a loss incurred by a person in the operation of a trade or business. "Net operating loss" does not include unutilized losses resulting from basis limitations, at-risk limitations, or passive activity loss limitations.

  • Contingent Liability means any agreement, undertaking or arrangement by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the indebtedness, obligation or any other liability of any other Person (other than by endorsements of instruments in the course of collection), or guarantees the payment of dividends or other distributions upon the shares of any other Person. The amount of any Person’s obligation under any Contingent Liability shall (subject to any limitation set forth therein) be deemed to be the outstanding principal amount (or maximum outstanding principal amount, if larger) of the debt, obligation or other liability guaranteed thereby.

  • Defects Liability Expiry Certificate means the certificate to be issued by the Client to the Contractor, in accordance with the Contract.