Individual Level Cost Method With Supplemental Liability
Means of projecting the costs of pension plans on a level basis over a specified future period of time. The actuarial value of each employee's future benefits to be paid at retirement is determined (beginning with the first day an employee could have joined the pension plan, had it been in effect at that time thereby creating a supplemental liability), and their costs are spread equally over the remaining work experience of the employee.
Popular Insurance Terms
Statement issued by the insurance company denying a claim under the insurance policy on the grounds that a condition or policy provision has been breached. ...
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Coverage provided for the fiduciaries of a retirement plan as well as for the plan itself in the event negligence of the fiduciaries results in losses to the plan and/or liability suits ...
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Automatic protection for an insurer against losses that exceed a predetermined loss limit. This reinsurance may be subdivided into three primary types: excess of loss, catastrophe loss, and ...
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