Actuarial Method. (describe): The actuarial method is the “projected unit credit actuarial cost” method. Under this method, the transfer amount is the actuarial present value of the pension in respect of service accrued to the date of termination, assuming an annual increase in pensionable earnings between the year of termination and the retirement assumptions specified below.
Appears in 2 contracts
Sources: Public Service Defined Benefit Pension Plans Reciprocal Transfer Agreement, Public Service Defined Benefit Pension Plans Reciprocal Transfer Agreement