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Other Postretirement Benefits
Benefits, other than pension distributions, that an employee is entitled to receive after retirement, such as life insurance and medical benefits.
Cash Basis of Accounting
An accounting method where revenues and expenses are recognized only when cash is received or paid.
Accrual Basis of Accounting
Accrual basis of accounting is a method where revenue and expenses are recorded when they are earned or incurred, regardless of when the cash is actually received or paid.
Defined Benefit Pension Plan
A type of pension plan where the benefits that a retiree will receive are calculated based on factors such as salary history and duration of employment.
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