Assumed benefit rate definition

Assumed benefit rate means a rate of 5 percent. The assumed benefit rate shall be used for calculating reserve transfers at the time of retirement, making actuarial valuations of annuities in force, determining the amount of lump−sum death benefits pay- able from the portion of an annuity based on additional deposits and crediting interest to employee required contribution accumu- lations under s. 40.04 (4) (a) 2.
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Assumed benefit rate means a rate of 5%. The assumed benefit rate shall be used for calculating reserve transfers at the
Sample 1Sample 2
Assumed benefit rate means a rate of 5%. The assumed benefit rate shall be used for calculating reserve transfers at the time of retirement, making actuarial valuations of annuities in force, determining the amount of lump−sum death benefits pay-
Sample 1

Related to Assumed benefit rate

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

  • Average final compensation means the average annual creditable compensation of a member during

  • Covered benefits or “benefits” means those health care services to which a covered person is entitled under the terms of a health benefit plan.

  • Societal benefits charge means a charge imposed by an electric

  • 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).

  • Extended benefit period means a period which:

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

  • Final compensation of a member means:

  • Disability benefit recipient means a member who is receiving a disability benefit.