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actuary |
Also found in: Legal, Encyclopedia, Wikipedia, Hutchinson | 0.01 sec. |
actuary [ˈæktʃʊərɪ] n pl -aries (Business / Professions) a person qualified to calculate commercial risks and probabilities involving uncertain future events, esp in such contexts as life assurance [C16 (meaning: registrar): from Latin āctuārius one who keeps accounts, from actum public business, and acta documents, deeds. See act, -ary] actuarial [ˌæktʃʊˈɛərɪəl] adj actuary a statistician of an insurance company who calculates risks and premiums. See also: Finance
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Annual OPEB cost for
most employers will be based on actuarially determined amounts that, if
paid on an ongoing basis, generally would provide sufficient resources
to pay benefits as they come due. ,
cause employees to forfeit) pension benefit payments to employees who
work beyond normal retirement age, without actuarially increasing the
monthly benefit when the employee does retire (assuming the employee
retires before attaining age 70 1/2), as long as the employer provides
the suspension-of-benefits notice required by the DOL regulations when
the employee attains normal retirement age. Various reductions of attack probability illustrated the impact of
these estimates on the calculation of actuarially fair premiums. |
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