Member Surplus definition
Member Surplus means the amount by which the Member’s net premium exceeds the sum of the Member’s incurred claims plus the Member’s pro-rata share (based upon the Member’s share of aggregate net premium paid by all members of the Group) of the administration expenses.
Examples of Member Surplus in a sentence
To that end, the employer contribution will be deducted from the Member Surplus in the 1959 Survivor Benefits Account until such time as that account is exhausted.