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
Federal act composed of amendments to the Product Liability Risk Retention Act of 1981 and enacted to make the procedures more efficient for creating risk retention groups (capitalized, ...
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Care in a sanitarium, nursing home, or other facility designed to provide custodial care on behalf of the mental and physical well-being of the patient. The cost may or may not be provided ...
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Amount received by the policyholder if the policy is canceled, benefits are reduced, or the premium is reduced. ...
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