Individual Level Cost Method With Supplemental Liability
Means of projecting the costs of pension plans on a level basis over a specified future period of time. The actuarial value of each employee's future benefits to be paid at retirement is determined (beginning with the first day an employee could have joined the pension plan, had it been in effect at that time thereby creating a supplemental liability), and their costs are spread equally over the remaining work experience of the employee.
Popular Insurance Terms
In which at least two insurance policies provide identical coverage for the same risk. ...
Arrangement of discretionary income, expenses, and investments in a way that enhances after-tax wealth. Insurance policies can be used to increase after-tax income through the tax-deferral ...
Present value computation of the accrued or projected benefits of a retirement plan. This computation is known as the actuarial valuation because it is based on probability (retirement ...
Record of losses, whether or not insured. This record is used in predicting future losses and in developing premium rates based on expectation of insured losses. ...
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