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Simple English definitions for legal terms

actuarial surplus

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A quick definition of actuarial surplus:

Actuarial Surplus: This is a guess of how much extra money a pension plan has compared to how much money it needs to pay for all the benefits it promised to give in the future. It's like having more money in your piggy bank than you need to buy all the toys you want.

A more thorough explanation:

Actuarial surplus is an estimate of the excess amount of money a pension plan has in its assets compared to its expected current and future liabilities. This includes the amount of money needed to fund future benefit payments.

For example, if a pension plan has $10 million in assets and its expected liabilities are $8 million, then the actuarial surplus would be $2 million. This means that the plan has more than enough money to cover its current and future obligations.

Another example would be if a pension plan has $15 million in assets and its expected liabilities are $20 million. In this case, the plan would have an actuarial deficit of $5 million, meaning it does not have enough money to cover its future obligations.

Actuarial surplus is important because it helps pension plan administrators determine if they have enough money to cover their obligations to plan participants. If a plan has an actuarial surplus, it may be able to offer additional benefits or reduce contributions from plan participants. On the other hand, if a plan has an actuarial deficit, it may need to increase contributions or reduce benefits to ensure it can meet its obligations.

actuarial method | actuarial table

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20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
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