Examlex
Open-book management is most effective in decentralized organizations.
Accumulated Benefit Obligation
The actuarial present value of all benefits attributed by the pension benefit formula to employee service rendered prior to that date, whether or not the benefits are vested.
Plan Assets
Assets that are held by a retirement plan, which can include stocks, bonds, and cash, intended to fund the future benefit payments to participants.
Defined Benefit Pension Plan
A retirement plan where employer commitments are based on a formula considering factors like salary history and duration of employment, with the company bearing investment risk.
Prior Service Cost Amortization
The process of expensing the costs of retroactive benefits granted in a pension plan over a period of time.
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