Law Dictionary Definitions

actuarially  sound  retirement  system.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. Cf. NONACTUARIALLY SOUND RETIREMENT SYSTEM. [Cases: Pensions    48. C.J.S. Pensions and Retirement Plans and Benefits §§ 23–25, 27.] [Blacks Law 8th]

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.] [Blacks Law 8th]

actual value.See fair market value under VALUE(2).[Blacks Law 8th]

actual total loss.See LOSS.  [Blacks Law 8th]

actual taking.See physical taking under TAKING(2). [Blacks Law 8th]

actual service.See PERSONAL SERVICE(1). [Blacks Law 8th]

actual seisin.See seisin in deed under SEISIN. [Blacks Law 8th]

actual-risk    test.The    doctrine    that,    for    an    injured    employee    to    be    entitled    to workers’-compensation benefits, the employee must prove that the injury arose from, and occurred in  the  course  and  scope  of,  employment.  [Cases:  Workers’  Compensation    604–618.  C.J.S. Workmen’s Compensation §§ 365–373, 376–387.] [Blacks Law 8th]

actual reduction to practice.See REDUCTION TO PRACTICE. [Blacks Law 8th]

actual possession.See POSSESSION. [Blacks Law 8th]