{"iri":"https://lexicon.financial/business/bls/ActuarialValue","label":"Actuarial value","definition":"Reduction formula applied to the amount of the normal retirement benefit on the basis of statistical assumptions so that, on average, the retiree receives a total lifetime payout that should be the same total amount regardless of retirement age.","license":"https://www.usa.gov/government-copyright","source":"bls","source_url":"https://www.bls.gov/bls/glossary.htm"}