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
Acts or omissions that result in suits against an individual and/or residents of the individual's household for actual or imagined bodily injury and/or property damage to a third party. ...
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Form showing notification that an insurance policy has been renewed with the same provisions, clauses, and benefits of the previous policy. ...
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Loss experience of a given insured. ...
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