Actuarial Method Sample Clauses

Actuarial Method. The method of allocating a Scheduled Payment with respect to any Contract between principal and interest, pursuant to which the portion of such payment that is allocated to interest is the product of (a) the Payment Interval Adjusted Applicable Discount Rate with respect to such Contract multiplied by (b) the applicable Contract Principal Balance (before giving effect to such principal payment).
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Actuarial Method. (describe): The actuarial method is the “projected unit credit actuarial cost” method. Under this method, the transfer amount is the actuarial present value of the pension in respect of service accrued to the date of termination, assuming an annual increase in pensionable earnings between the year of termination and the retirement assumptions specified below.
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Actuarial Method. The past service liabilities will be calculated for the Transferring Members in accordance with the actuarial assumptions set out in section 2 below using pensionable service to and Salary or Pensionable Salary (as the case requires) over the year to the Completion Date, and adjusted to the Actual Payment Date in accordance with the provisions in sections 3 and 4 below. The past service liabilities will be based on the benefit structure applying for and in respect of such Transferring Member immediately prior to the Completion Date. For this purpose pensionable services includes any additional service resulting from a previous transfer in or the accrued part of any added years secured by additional member contributions. In the event that a Transferring Member's Salary or Pensionable Salary represents less than a full year, it should be grossed up to the annual equivalent. For the avoidance of doubt the past service liabilities shall include the accrued element of the Transferring Member's ill health pension and death in service pensions. It shall take no account of benefits for service after the Completion Date.
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Actuarial Method. The actuarial method is the “projected unit credit actuarial cost” method.
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Actuarial Method. The method used is generally called “projected benefit method pro rated on service” adjusted to take into account the fact that the value of the benefits accrued during the applicant’s career is not necessarily uniform.
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Related to Actuarial Method

  • Actuarial Equivalent The Actuarial Equivalent of the payments from the SERP determined under that Plan and this subsection shall be determined by taking into account the reduction for early commencement of benefits imposed by that Plan and by using reasonable actuarial assumptions. For purposes of determining the lump sum actuarial equivalent, the corresponding actuarial assumptions provided in the Retirement Plan (or, to the extent not provided in that Plan, as provided under GATT) shall be used.

  • ACCRUAL OF BENEFIT The Advisory Committee will determine the accrual of benefit (Employer contributions and Participant forfeitures) on the basis of the Plan Year in accordance with the Employer's elections in its Adoption Agreement.

  • Actuarial Reports Promptly upon receipt thereof by any Loan Party or any ERISA Affiliate, a copy of the annual actuarial valuation report for each Plan the funded current liability percentage (as defined in Section 302(d)(8) of ERISA) of which is less than 90% or the unfunded current liability of which exceeds $5,000,000.

  • Net Benefit A Net Benefit for a particular fund or, in the case of a multi-class fund, a class results when aggregate Benefits exceed aggregate Losses (i.e., net redemptions on a day the fund’s or class’s NAV is understated or net subscriptions on a day the fund’s or class’s NAV is overstated) during the Error Period.

  • Lump Sum The Change Order cost is determined by mutual agreement as a lump sum amount changing the Contract Sum allowed for completion of the Work. The Change Order shall be substantiated by documentation itemizing the estimated quantities and costs of all labor, materials and equipment required as well as any xxxx-up used. The price change shall include the cost percent allowed for the Contractor's overhead and profit and, if eligible, Time Dependent Overhead Costs.

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Early Retirement Benefit If the Executive terminates employment after the Early Retirement Date but before the Normal Retirement Date, and for reasons other than death or Disability, the Bank shall pay to the Executive the benefit described in this Section 2.2.

  • Life Annuity The monthly annuity shall be payable to the annuitant for as long as the annuitant lives, and shall end with the last monthly payment before the death of the annuitant.

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  • VALUE OF PARTICIPANT'S ACCRUED BENEFIT If a distribution (other than a distribution from a segregated Account) occurs more than 90 days after the most recent valuation date, the distribution will include interest at: (Choose (a), (b) or (c))

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