Actuarial Surplus

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Actuarial Surplus

A measure of the amount by which the value of a company's pension fund exceeds the amount it must pay out in benefits. This should not be confused with an actuarial gain, which occurs when a company pays out less than expected. That is, a company can have an actuarial gain (and pay out less than it estimated) without having an actuarial surplus and vice versa.
References in periodicals archive ?
During the late 1990s public pension funds across the United States accrued large actuarial surpluses. The seemingly flush conditions of the pension funds led legislators in most states to substantially improve retirement benefits for public workers, including teachers.