Definitions for "accrued benefit"
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.
The accumulated amount in a member's account at a point in time.