Individual Level Cost Method
Definition of "Individual level cost method"
Means, in pension plans, by which a projection is made of benefits credited to each employee's account at retirement age. Costs are then allocated on a level basis over a specified future period of time. This cost method can be classified according to whether there is or is not a supplemental liability.
Popular Insurance Terms
Type of pension plan in which the employer (if noncontributory plan) or the employer and employee (if contributory plan) make level annual premium payments to fund the future retirement ...
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