past service pension
1Past Service — Service to an employer that is recognized for the defined benefit pension plan purposes, but either occurred before the employee was a member in the plan, or before the plans inception. Employees have the option to purchase past service, by cash… …
2past service reserve — England, Scotland, Wales An actuarial method for calculating the value of a member s benefits in a defined benefit pension scheme (defined benefit scheme). The method uses the value of the member s accrued benefits based on his pensionable… …
3past service — noun Etymology: past (I) : the period of a worker s employment prior to the effective date of a pension plan for which credit is given in determining the amount of his pension …
4pension — mid 14c., payment for services, especially reward, payment out of a benefice (early 14c., in Anglo L.), from O.Fr. pension payment, rent, from L. pensionem (nom. pensio) payment, rent, from pensus, pp. of pendere pay, weigh (see PENDANT (Cf.… …
5Pension Benefit Obligation - PBO — An accounting term used to describe the amount of money a company must pay into a defined benefit pension plan to satisfy all pension entitlements that have been earned by employees up to that date. The pension benefit obligation (PBO) is… …
6Pension Benefit Guaranty Corporation — (United States) Agency overview Formed September 2, 1974 …
7Pension — Pen sion, n. [F., fr. L. pensio a paying, payment, fr. pendere, pensum, to weight, to pay; akin to pend?re to hang. See {Pendant}, and cf. {Spend}.] 1. A payment; a tribute; something paid or given. [Obs.] [1913 Webster] The stomach s pension,… …
8pension — pensionable, adj. pensionably, adv. pensionless, adj. /pen sheuhn/; Fr. /pahonn syawonn / for 3, n., pl. pensions / sheuhnz/; Fr. / syawonn / for 3, v. n. 1. a fixed amount, other than wages, paid at regular intervals to a person or to the person …
9pension — 1. noun /ˈpenʃən/ a) A regularly paid gratuity paid regularly as benefit due to a person in consideration of past services; notably to one retired from service, on account of retirement age, disability or similar cause; especially, a regular… …
10pension — A gratuity paid by the government in recognition of past services in the Army or Navy. Dismukes v United States, 297 US 167, 80 L Ed 561, 56 S Ct 400, reh den 297 US 728, 80 L Ed 1011, 56 S Ct 594. A bounty or gratuity bestowed as a token of the… …
