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Pension Expense
The cost recognized by an employer for maintaining a defined benefit pension plan for its employees, encompassing various components such as service cost and interest cost.
Actuarially Determined
Calculations made based on actuarial methods and assumptions, often used in determining pension liabilities and insurance premiums.
Pension Benefit Obligation
The reported estimate of the total amount due to employees in relation to pension benefits as per the terms of the pension plan.
Interest Cost
The total amount of interest that will be incurred over the lifetime of a debt.
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