Examlex
Encoding refers to the process of:
Pension Benefits
Retirement plan benefits, either in lump sum or recurring payments, provided to employees as part of their compensation package.
Employee Pension Plan
An employee pension plan is a retirement plan funded by an employer that provides a fixed payout to retirees, usually based on factors such as salary history and length of employment.
Vested
Having an absolute right to an asset, benefit, or privilege, which is not contingent upon fulfilling any condition or the occurrence of a specific event.
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