Postretirement Funding
Definition of "Postretirement funding"
Method of funding a pension plan after a worker retires. An employer purchases an annuity or sets aside a sum when an employee retires that will pay monthly lifetime benefits. Postretirement funding is no longer permitted under the employee retirement income security act Of 1974 (erisa), which requires current funding of future pension liabilities.
Popular Insurance Terms
Actuarial evaluation of the assets of a pension plan according to the fair market value of the assets. ...
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Plan under which an employee authorizes his or her employer to deduct from each paycheck premiums due on an insurance plan. ...
Coverage for an employer in the event of dishonesty of any employee. ...
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