Pension benefit that an employee has earned based on his or her years of service...
In a defined benefit pension plan, the amount of pension benefit which has accumulated in a pension plan on behalf of an individual plan participant at any particular time.
A benefit that an employee has earned (or accrued) through his participation in the plan. In a defined contribution plan (i.e. a profit sharing/401(k) plan), the accrued benefit of a participant is the balance in his individual account at a given time. The accrued benefit should not be confused, however, with the benefit that a participant has a “vested” right (non-forfeitable) to receive if he leaves prior to retirement. This benefit is determined by referring to the plan's vesting schedule and the years of service credited to the participant.
For any retirement plan that is not a defined benefit pension plan, a participant’s accrued benefit is the balance in his or her plan account, whether vested or not. In the case of a defined benefit pension plan, a participant’s accrued benefit is his or her benefit as determined under the terms of the plan expressed in the form of an annual benefit commencing at normal retirement age.
The benefit the participant has earned under the plan.
a benefit earned by an employee through participation in a plan. In a defined contribution plan, it is the balance in the individual account at a particular time.
A benefit that has accumulated up to a particular point in the participant's employment.
The accumulated pension credits for years of credited service, expressed in the form of an annual benefit to begin payment at normal retirement age.
A benefit that an employee has earned (or accrued) through participation in the plan. In a defined contribution plan, the participant's accrued benefit is the balance in his individual account at a given time. In a defined benefit plan, the accrued benefit is determined as specified by the plan.
A benefit that an employee has earned through participation in a retirement plan. In a 401(k) plan, this is the value of the participant's account at a given time. The participant may not have an absolute nonforfeitable right to this benefit, however.
The amount of retirement benefit that has been accumulated on behalf of a participating employee. In the case of a defined benefit plan, an employee's accrued benefit would be expressed as the amount he or she could expect to receive at normal retirement if no future funds were contributed to the plan. In the case of a money-purchase plan or profit-sharing plan, a participant's accrued benefit means the balance presently accrued in his or her individual account.
Pension benefits earned (vested) based on years of service at a company and credited to the employee using an actuarial method.