Actuarially Adjusted definition

Actuarially Adjusted means, for purposes of determining the deferred retirement benefit under Section 4.3, the adjustment based on the mortality table and interest rate used to determine a lump sum benefit under the CFC Retirement Plan as of the date of a Participant’s Retirement Date. For purposes of determining the death benefit under Section 4.4, “Actuarially Adjusted” means the adjustment based on the mortality table and interest rate used by the CFC Retirement Plan to determine optional forms of benefit payments.
Sample 1
Actuarially Adjusted means making one benefit of equivalent value to another benefit using the interest rate and mortality assumptions then in effect under the Company’s nonqualified pension plans. Payments of the Supplemental Retirement Benefit will be made from the Company’s general assets, and not from any trust funding the Company’s pension plans.
Sample 1
Actuarially Adjusted means making one benefit of equivalent value to another benefit using the interest rate and mortality assumptions then in effect under the Company's pension plans; provided, however, that in no event shall this paragraph's language requiring that such Supplemental Retirement Benefit payments be "Actuarially Adjusted" or "Actuarially Equivalent" result in the payment of less than $300,000 of combined annual pension benefits to Executive under this Agreement's Supplemental Retirement Benefit provisions and the Company's pension plans once Executive has completed the two years of continuous employment with the Company required in paragraph (a) above. If Executive dies prior to retiring or otherwise terminating his employment with the Company, his surviving spouse (if any) shall be entitled to receive payment of that portion of the Supplemental Retirement Benefit earned prior to his date of death she would have received if Executive's employment had terminated due to Disability on the day immediately preceding his date of death and he had elected to receive payment of his Supplemental Retirement Benefit in the form of an Actuarially Equivalent 50% joint and survivor annuity. Payments of the Supplemental Retirement Benefit will be made from the Company's general assets, and not from any trust funding the Company's pension plans.
Sample 1

Examples of Actuarially Adjusted in a sentence

  • The Accrued Benefit shall be Actuarially Adjusted for the form of payment and Actuarially Adjusted for any prior distribution from the Plan that is not repaid.

  • Such Account Balance shall be expressed in terms of a lump sum which shall be Actuarially Adjusted for a form of payment other than a lump sum.

  • The amount calculated under Section 4.1(a) as of the Participant’s Normal Retirement Date Actuarially Adjusted for the Participant’s deferred Retirement Date.

  • Payment of the Supplemental Retirement Benefit shall be made in the form of a single lump sum cash amount equal to the Actuarially Equivalent present value of the annuity described in Section 9(a); provided, however, that the amount of such monthly annuity payments shall be Actuarially Adjusted in the event payment begins before Executive has attained age 60.

  • Each Purchaser shall have received from the Company duly executed Notes and Warrants as required by this Agreement.

  • Payment of the Supplemental Retirement Benefit shall begin at the same time as and shall be made in the same form as Executive receives payment of his monthly benefits from the Company's pension plans; provided, however, that the amount of such monthly Benefit payments shall be Actuarially Adjusted in the event payment begins before Executive has attained age 60 or payment is made in a form other than an annuity payable over his lifetime.

  • Payment of the Supplemental Retirement Benefit shall begin at the same time as and shall be made in the same form as Executive receives payment of his monthly benefits from the Company's pension plans; provided, however, that the amount of such monthly Benefit payments shall be Actuarially Adjusted in the event payment begins before Executive has attained age 62 or payment is made in a form other than an annuity payable over his lifetime.

  • The Supplemental Benefit shall be equal to 100% of the amount of the Participant’s Supplemental Benefit determined in accordance with Article 4, Actuarially Adjusted and reduced in the same manner as is applicable under the CFC Retirement Plan, as if the Participant had terminated employment with the Employer as of his date of death and commenced benefit payments from the CFC Retirement Plan on the date on which the Beneficiary first commences benefit payments from the CFC Retirement Plan.

  • For purposes of the Supplemental Retirement Benefit, the terms "Actuarially Equivalent" or "Actuarially Adjusted" shall mean making one benefit of equivalent value to another benefit using the interest rate and mortality assumptions then in effect under the Company's pension plans.


More Definitions of Actuarially Adjusted

Actuarially Adjusted or "Actuarially Equivalent" result in the payment of less than $300,000 of combined annual pension benefits to Executive under this Agreement's Supplemental Retirement Benefit provisions and the Company's pension plans once Executive has completed the two years of continuous employment with the Company required in paragraph (a) above. If Executive dies prior to retiring or otherwise terminating his employment with the Company, his surviving spouse (if any) shall be entitled to receive payment of that portion of the Supplemental Retirement Benefit earned prior to his date of death she would have received if Executive's employment had terminated due to Disability on the day immediately preceding his date of death and he had elected to receive payment of his Supplemental Retirement Benefit in the form of an Actuarially Equivalent 50% joint and survivor annuity. Payments of the Supplemental Retirement Benefit will be made from the Company's general assets, and not from any trust funding the Company's pension plans.
Sample 1

Related to Actuarially Adjusted

  • Actuarially Equivalent or "of equal actuarial value" means a benefit of equal value

  • Actuarial equivalent means a benefit of equal value when

  • Actuarial valuation means a mathematical determination of

  • Actuarial method means the method of allocating a fixed level monthly payment on an obligation between principal and interest, pursuant to which the portion of such payment that is allocated to interest is equal to the product of (a) 1/12, (b) the fixed annual rate of interest on such obligation and (c) the outstanding principal balance of such obligation.

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

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

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Normal Retirement Benefit means an annual benefit payment in the amount of Sixty-Six Thousand Three Hundred and Seventy-Three Dollars ($66,373.00) for a period of fifteen (15) years.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Projected Annual Benefit means the annual retirement benefit (adjusted to an actuarial equivalent straight life annuity if such benefit is expressed in a form other than a straight life annuity or Qualified Joint and Survivor Annuity) to which the Participant would be entitled under the terms of the Plan assuming:

  • Maximum Benefit means the maximum benefit amount of each of the benefits covered under this Policy as stated in the Schedule of Benefits.

  • Present Value means the amount as of a date certain of one or more sums payable in the future, discounted to the date certain. The discount is determined by the interest rate specified by the parties if the rate was not manifestly unreasonable at the time the transaction was entered into; otherwise, the discount is determined by a commercially reasonable rate that takes into account the facts and circumstances of each case at the time the transaction was entered into.

  • life annuity means an annuity payable under a policy issued to an SRS member for a term ending with, or at a time ascertainable only by reference to, the end of his life;

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Actuarial Receivable means any Receivable which provides for the allocation of payments according to the "actuarial" method.

  • Inflation Factor means a number determined for each tax year by dividing the consumer price index for June of the tax year by the consumer price index for June 2005.

  • Change in Control Benefit means the benefit described in Section 2.4.

  • Benefit Amount shall have the meaning set forth in Section 20.12 hereof.