Actuarially Sound Retirement System Law and Legal Definition
Actuarially sound retirement system means a retirement plan that pays for future obligations from its fund. The contributions to the system are made by both the employer and the employees. The contribution so received will be invested in accounts to pay future benefits.
In Stone v. State, 191 N.C. App. 402 (N.C. Ct. App. 2008), an actuarially sound retirement system is defined as “a retirement plan that contains sufficient funds to pay future obligations, as by receiving contributions from employees and the employer to be invested in accounts to pay future benefits”.
Legal Definition list
- Actuarially Appropriate [Federal Crop Insurance Corporation]
- Actuarial Value
- Actuarial Table
- Actuarial Surplus
- Actuarial Services [Employee Retirement]
- Actuarially Sound Retirement System
- Actuary
- Actus Curiae Neminem Gravabit
- Actus Dei Nemini Facit Injuriam
- Actus Fictus In Fraudem Legis
- Actus Inceptus Cujus Perfectio Pendet Ex Voluntate Partium Revocari Potest, Si Autem Pendet Ex Voluntate Tertiae Personae, Vel Ex Contingenti, Revocar
Related Legal Terms
- 9-1-1 System
- Accelerated Cost Recovery System
- Active Solar System
- Actuarial Experience [Employee Retirement]
- Actuarial Services [Employee Retirement]
- Actuarially Appropriate [Federal Crop Insurance Corporation]
- Adaptive Ecosystem Management
- Administrative Governor [Federal Reserve System]
- Adoption and Foster Care Analysis and Reporting System (AFCARS)
- Advanced Automobile Propulsion System
