Actuarial Experience [Employee Retirement] Law and Legal Definition

According to 20 CFR 901.1 [Title 20. Employees' Benefits; Chapter VIII. Joint Board For The Enrollment Of Actuaries; Part 901 Regulations Governing The Performance Of Actuarial Services Under The Employee Retirement Income Security Act Of 1974; Subpart A. Definitions And Eligibility To Perform Actuarial Services], ‘actuarial experience’ means the performance of, or the direct supervision of, services involving the application of principles of probability and compound interest to determine the present value of payments to be made upon the fulfillment of certain specified conditions or the occurrence of certain specified events.