24 CAR § 20-1009. Actuarial equivalence and interest equivalence — Definitions

As used in this subpart: (1) “Actuarial equivalence” means that the amounts produce the same lump sum based on the 1983 Group Annuity Mortality Table with five percent (5%) interest; and (2) “Interest equivalence” means that the amounts produce the same lump sum based on an interest rate or rates of not less than five percent (5%).