Prior Service Pension Cost
Barron's Accounting Dictionary:
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Prior Service Pension Cost
Retroactive benefits cost for services rendered in periods prior to the initiation of a pension plan or an amendment to a plan. The cost of these retroactive benefits is the resulting increase in the projected benefit obligation. It involves the allocation of equal amounts to future years of service for active employees.
See also normal pension cost.
See also normal pension cost.
| Prior Period Adjustment, Principal, Prime Rate | |
| Private Accountant, Private Companies Practice Section (PCPS), Private Equity |
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Barron's Accounting Dictionary
Dictionary of Accounting Terms. Copyright © 2010 by Barron's Educational Series, Inc. All rights reserved.
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