Funding Standard Account
Approach in pension plan funding under which a separate account is maintained for comparing actual contributions to the plan with the minimum contributions required to meet future employee benefit liabilities. This account acts as a reservoir in that it can store excess contributions above the minimum required. It also allows excess contributions to accumulate at interest and then applies these accrued contributions to reduce the minimum required future contributions.
Popular Insurance Terms
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tort against another person's property, designed to detain or dispose of it in a wrongful manner. For example, wrongful selling of another person's automobile without permission would ...
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Amount paid to an insurer. Determination of the actual cost (not the price paid) of a life insurance policy has been widely discussed for many years in life insurance and consumer circles. ...
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