Cost Allocation Method
Method of funding a pension plan through: an individual level cost basis, where future benefits for the employee are estimated and contributions are made periodically while the employee is working to fund these future benefits; or an aggregate level cost basis, where future benefits for all current employees are estimated and aggregate contributions are made periodically while the current employees are working to fund these future benefits.
Popular Insurance Terms
number of serious injuries per 1,000,000 employee-hours worked. ...
Written statement by an insurance company attesting to the powers it has vested in an agent. ...
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