Actuarial Equivalent definition

Actuarial Equivalent means a benefit of equal value when

Actuarial Equivalent means equality in present value of the

Actuarial Equivalent means a benefit of equal value when computed upon the

Examples of Actuarial Equivalent in a sentence

• The Defined Benefit amount determined above is adjusted by the following percentages based on attained age or years of service: Attained Age Years of OhioService Credit Percentage Actuarial equivalent of the normal retirement allowance accrued to the date of early retirement.

• Actuarial equivalent of a single life annuity which would have been paid as a retirement benefit on the date of death without regard to eligibility age for retirement benefit.

• Actuarial equivalent of a periodic benefit means the commuta- tion of the value of the periodic benefit into a lump-sum payment, taking life expectancy and interest into account.

• Actuarial equivalent" means a benefit which is of equal value when computed at regular interest, based on the mortality and service tables adopted by the board of trustees.[PL 1983, c.

• Actuarial equivalent shall equal the lesser of the amount determined by using the actuarial assumptions set forth in the definition of Actuarial Equivalent or the amount determined: (I) by substituting the Applicable Mortality Table for the mortality table in the definition of Actuarial Equivalent, if such table would otherwise be used under the Plan; and (II) except as otherwise provided in subsection (b)(iv), by applying an interest rate assumption of five percent (5%).

More Definitions of Actuarial Equivalent

Actuarial Equivalent means a benefit of equal value when computed upon the basis of actuarial

Actuarial Equivalent means a benefit of equal value when computed upon the basis of the mortality

Actuarial Equivalent means a payment or series of payments having the same value as the

Actuarial Equivalent means a benefit of equal value when computed upon the basis of actuarial tables adopted by the board. In cases of disability retirement, the options authorized by KRS 61.635 shall be computed by adding ten (10) years to the age of the member, unless the member has chosen the Social Security adjustment option as provided for in KRS 61.635(8), in which case the member's actual age shall be used. For members who began participating in the system prior to January 1, 2014, no disability retirement option shall be less than the same option computed under early retirement;

Actuarial Equivalent means a benefit of equal value

Actuarial Equivalent means a payment or series of payments having the same value as the payment or series of payments replaced, computed on the basis of interest rate and mortality as- sumptions adopted by the board.

Actuarial Equivalent means a benefit of equal value when computed upon the basis of the mortality tables adopted by the board of supervisors and regular interest thereon.