SECTION 590:15-5-3. Construction

Latest version.

Whenever any actuarial present value or actuarial equivalency is to be determined under the Excess Benefit Plan to establish a benefit, it shall be based on such reasonable actuarial assumptions as may be approved in the sole discretion of the Board, and shall be determined in a uniform manner for all similarly situated Participants.

[Source: Added at 28 Ok Reg 100, eff 9-17-10 (emergency); Added at 28 Ok Reg 672, eff 5-12-11]

                    
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