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We are entitled to accept our commonsense moral experience as trustworthy evidence unless:
Vested Benefits
Employee benefits, such as pension funds or stock options, that are fully granted and cannot be forfeited even if the employment is terminated.
Projected Benefit Obligation
A liability amount that represents an estimate of the total future pensions benefits earned by employees, adjusted for expected future salary increases.
Pension Benefit Guaranty Corporation
A U.S. government agency that protects the retirement incomes of American workers in private sector defined benefit pension plans.
Defined Benefit Pension Plans
Retirement plans promising a specific benefit at retirement, which is usually calculated through formulas involving salary and years of service.
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