Deferred Retirement Credit
Definition of "Deferred retirement credit"
Former arrangement under which retirement benefits payable to an employee who continued to work beyond normal retirement age were frozen, and not increased in recognition of added work time. This was eliminated by the federal Omnibus Budget Reconciliation Act of 1986.
Popular Insurance Terms
Option in a participating policy under which dividends are used to purchase fully paid-up units of whole life insurance. This option deserves careful consideration by young families since ...
Former arrangement under which retirement benefits payable to an employee who continued to work beyond normal retirement age were frozen, and not increased in recognition of added work ...
Cost computation form that assumes retirement and commencement of annuity payments on the first day of the month nearest the birthday when a retiree reaches normal retirement age. Most ...
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Date at which insurance protection begins. ...
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