Examlex
One of the primary reasons for the slow response to help the victims of Hurricane Katrina was an antiquated government system that was bogged down in bureaucratic red tape. In other words, the failure of assistance to arrive in a timely fashion was due to a lack of:
Actuarially Assumed
Refers to statistical calculations and estimates made by actuaries, often related to insurance and pension fund liabilities.
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.
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