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
Organization formed to encourage research in insurance and to foster an exchange of ideas and research methodology among the society members. ...
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