Examlex
____ are the actions to which an object can respond.
Retroactive Benefits
Retroactive benefits refer to payments or compensations provided for a period before the benefits were approved or a claim was settled.
Actuarial Present Value
Actuarial Present Value is the calculation of the current value of future cash flows or payments, taking into account factors such as mortality rates and interest.
Accumulated Benefit Obligation
The present value of future retirement benefits earned up to a certain point in time, under a defined benefit pension plan.
Prior Service Cost
Costs recognized when a pension plan initiates or changes, relating to services provided by employees in prior periods.
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