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LSDefine

Simple English definitions for legal terms

actuarially sound retirement system

Read a random definition: servitii praestatio

A quick definition of actuarially sound retirement system:

An actuarially sound retirement system is a plan that has enough money to pay for future retirement benefits. This is achieved by collecting contributions from both employees and employers, which are then invested in accounts to ensure that there is enough money to pay for future benefits. A retirement system that is not actuarially sound may not have enough funds to pay for future benefits.

A more thorough explanation:

An actuarially sound retirement system is a retirement plan that has enough funds to pay for future obligations. This is achieved by receiving contributions from both employees and employers, which are then invested in accounts to pay for future benefits.

For example, a company may offer a 401(k) plan to its employees. The employees contribute a portion of their salary to the plan, and the employer may also contribute a matching amount. These funds are then invested in various accounts, such as stocks and bonds, to grow over time. When the employee retires, they can withdraw the funds as a source of income.

Another example is a pension plan offered by a government agency. The agency sets aside funds to pay for future retirement benefits for its employees. These funds are invested in various accounts to grow over time. When the employee retires, they receive a monthly pension payment based on their years of service and salary.

Overall, an actuarially sound retirement system is important to ensure that retirees receive the benefits they were promised and that the retirement plan remains financially stable.

actuarial equivalent | actuarial method

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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