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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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The legislation
stated that premium charges "shall not be excessive, inadequate,
nor unfairly discriminatory, and shall be actuarily sound so as not to
result in a subsidy of the plan. Since then,
the only change in the social security retirement age has been to lower
it; actuarily reduced benefits have been made available as early as age
62. |
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