actuarial equivalent
actuarial equivalent. The amount of accrued pension benefits to be paid monthly or at some other interval so that the total amount of benefits will be paid over the expected remaining lifetime of the recipient. [Cases: Annuities 6; Pensions 131. C.J.S. Annuities §§ 13–14, 17–20; Pensions and Retirement Plans and Benefits §§ 69, 86.]
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