Examlex
In computing Federal taxable income, can the trust or estate use its distributable net income (DNI) as its deduction for distributions to beneficiaries? Explain.
Defined Contribution Plan
A retirement plan in which the employer, employee, or both make contributions on a regular basis, but the final amount received by the employee depends on the plan's investment performance.
Projected Benefit Obligation
An actuarial calculation of the present value of future pension benefits earned to date by employees, based on expected salary increases.
Vested Benefits
Employee benefits (such as pension plans) that are fully entitled to the employee, not contingent on further employment.
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