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
Same as term Automobile Assigned Risk Insurance Plan: coverage in which individuals who cannot obtain conventional automobile liability insurance, usually because of adverse driving ...
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