RSA 100-C:1 Definitions.

The following words and phrases as used in this chapter, unless a different meaning is plainly required by the context, shall have the following meanings:
I. "Accumulated contributions" means the sum of all the amounts deducted from the compensation of a member.
II. "Actuarial equivalent" means a benefit of equal value when computed at regular interest upon the basis of the mortality tables last adopted by the board of trustees. The actuarial equivalent shall be based upon an interest rate assumption of 6 percent, and the 1971 Group Annuity Mortality Table (males) for members and the 1971 Group Annuity Mortality Table (males) set back 6 years for spouses or beneficiaries. For purposes of determining the present value of a lump sum payment, the applicable interest rate is