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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1969 federal legislation requiring states to treat national banks, including those whose principal offices are out of state, the same way for tax purposes as they treat their own ...
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Continuing on an indefinite basis. ...
Form provided for an inspection report. ...
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