Pensions
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Terms in Pensions
412(i) Plan
A 412(i) plan was a defined-benefit pension plan that was designed for small business owners in the United States. read more
Actuarial Valuation
An actuarial valuation is an appraisal of a pension fund's assets versus liabilities, using investment, economic, and demographic assumptions. read more
Advance Funded Pension Plan
An advance funded pension plan is funded concurrently with the employee's accrued benefits, and are set aside well before the employee's retirement. read more
Aggregate Level Cost Method
Aggregate level cost method is an actuarial accounting method to match and allocate the cost and benefit of a pension plan over the span of its life. read more
Allocated Benefits
Allocated benefits are a type of payment that comes from a defined-benefit retirement plan to provide guaranteed income to plan participants. read more
Benefit Allocation Method
The benefit allocation method is one of several funding companies may adopt in order to maintain an employee pension plan. read more
Cash Balance Pension Plan
A cash balance pension plan is a type of retirement savings account that has an option for payment as a lifetime annuity. read more
Central Provident Fund (CPF)
The Central Provident Fund is a mandatory benefit account set up to provide Singaporeans with a comprehensive retirement plan. read more
Corporate Pension Plan
A corporate pension plan is an employee benefit that provides regular income in retirement based on length of service and salary history. read more
Canada Pension Plan (CPP)
The Canada Pension Plan is one of three levels of Canada's retirement income system, which is responsible for paying retirement or disability benefits. read more