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  • noun

Synonyms for accrual

the act of accumulating

References in periodicals archive ?
In addition, if the plan is integrated with Social Security, an explanation of permitted disparity under Internal Revenue Code (IRC) Section 401(l) must be provided and, if the plan is a floor-offset arrangement, an explanation of the manner in which that will affect the participant’s accrued benefit. Alternatively, the reporting requirements can be satisfied if, at least once each year, the administrator notifies the participant of the availability of the pension benefit statement and about how he can obtain it.
Alternatively, the plan can distribute a lump sum that satisfies the rule with respect to that payment, while the remaining portion also satisfies a minimum requirement where that portion (expressed as the normal form of benefit at normal retirement age) may not be less than the excess of (1) the participant's total accrued benefit over (2) the annuity payable in that form that is actuarially equivalent to the lump sum payment, determined using the applicable interest rate and mortality table.
In the first approach, a plan could have provided for two separate portions of the accrued benefit that were determined without regard to any election of optional form of benefit and permitted a participant to select different distribution options with respect to each of those portions.
As a result, in the year a participant's interest vested, the participant was required to include in gross income the value of the vested accrued benefit. This amount was equal to the fair market value of the participant's account in the year in which the amount vested, less the participant's investment in the contract as of the end of the prior tax year.
The court recognized that during this period, "the accrued benefit payable at normal retirement age is effectively frozen," and older employees were more likely than younger employees to experience long wear-aways.
Under current standards, the unfunded accrued benefit obligation can be amortized over as many as 30 years.
(4) An employee's rights in his accrued benefit derived from his own contributions must be nonforfeitable.
For defined contribution plans, the "accrued benefit" is the balance of assets allocated to the participant's individual account.
Finally, EDHEC recommends that pension funds use the projected benefit obligation to compute pension cost but that they report the accrued benefit as the pension liability in their balance sheet, a measure that would then be consistent with the prudential measure of pension liabilitiies.
Under section 72(p)(2), a loan from a qualified retirement plan to a participant is not treated as a taxable distribution under three conditions: (1) The principal amount of the loan, when added to the outstanding balance of any other loans from the same plan, does not exceed the lesser of (a) $50,000 or (b) the greater of one-half of the present value of the nonforfeitable accrued benefit of the employee under the plan or $10,000.
A post-heart attack exercise program can lead to fast improvements in blood flow and overall health, but any accrued benefit can be lost within four weeks if the exercise regimen stops.
Generally, the unit credit (accrued benefit) method is used in determining the net periodic pension cost, regardless of the actuarial method used by the plan.
A formula would be similar to a lump sum-based formula if "the formula provides that a participant's accrued benefit payable at normal retirement age ...
In the filing, Gannett clarified the definition of change in control, provided for the payment of accrued benefit amounts in a lump sum, provided for an accelerated vesting of retirement benefits, and prohibited a termination or a benefit reducing amendment to its retirement plan.