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Service Cost Component
The element of pension expense that represents the present value of benefits attributed by the pension plan formula to employee service during the period.
Defined Benefit Pension Plan
A type of pension plan where an employer promises a specified pension payment upon retirement, based on the employee's earnings history and tenure.
Return On Plan Assets
A measure of the earnings generated from the investments within a pension fund, indicating the efficiency and performance of the asset management.
Pension Expense
The cost recognized in an employer's financial statements for the benefits provided to employees during a period.
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