Accrued Benefits


Accrued Benefits
Coverage earned by an employee on a pension plan, based on years of service with an employer. Accrued benefits may include vacation, sick or personal time off, or other related benefits. Employees who are laid off, retire or are fired must receive all unpaid accrued benefits.

Accrued benefits are another form of income employees receive, but this income is not paid immediately. For example, a worker will accrue vacation time and still receive a regular salary when off on vacation. Other accrued benefits can include a profit-sharing plan, a stock bonus plan, an employee stock ownership plan (ESOP), a thrift plan, a target benefit plan or a money purchase pension plan.


Investment dictionary. . 2012.

Look at other dictionaries:

  • accrued benefits — Benefits due under a defined benefit pension scheme in respect of service up to a given time. Accrued benefits may be calculated in relation to current earnings or protected final earnings. Statement of Standard Accounting Practice 24 and… …   Accounting dictionary

  • accrued benefits — Benefits due under a defined benefit pension scheme in respect of service up to a given time. Accrued benefits may be calculated in relation to current earnings or protected final earnings. Statement of Standard Accounting Practice 24 and… …   Big dictionary of business and management

  • accrued benefits — The pension benefits earned by an employee according to the years of the employee s service. Bloomberg Financial Dictionary * * * accrued benefits UK US noun [plural] HR ► the money that an employer owes to an employee as a pension, which is… …   Financial and business terms

  • accrued benefits method — An actuarial method used in accounting for pension costs in which the actuarial value of liabilities relates at a given date to: • the benefits, including future increases promised by the rules, for current and deferred pensioners and their… …   Accounting dictionary

  • accrued benefits method — An actuarial method used in accounting for pension costs in which the actuarial value of liabilities relates at a given date to: • the benefits, including future increases promised by the rules, for the current and deferred pensioners and their… …   Big dictionary of business and management

  • Accrued Monthly Benefit — The earned pension benefit that will be paid to an employee at regular retirement age. The accrued monthly benefit is based on the employee s years of service through the accrual date, and is paid to pension holders each month following… …   Investment dictionary

  • post-retirement benefits — Benefits provided by an employer to employees who have retired. For example, some employers provide health care and other benefits in addition to pensions, particularly in the USA. In the USA, Statement of Financial Accounting Standards 106… …   Accounting dictionary

  • Portable Benefits — Benefits that have been paid into or accrued in an employer sponsored plan and that can be transferred to a new employer s plan or to an individual who is leaving the workforce. Applies to benefits from health plans, retirement plans and most… …   Investment dictionary

  • Retirement Insurance Benefits — (abbreviated RIB [ [http://www.ssa.gov/glossary.htm#R http://www.ssa.gov/glossary.htm#R] ] ) or Old age Insurance Benefits [ [http://www.ssa.gov/OP Home/ssact/title02/0202.htm Social Security Act Title II § 202] ] are a form of social insurance… …   Wikipedia

  • Employee Retirement Income Security Act — The Employee Retirement Income Security Act of 1974 (ERISA) (USStatute|93|406|88|829|1974|09|02) is an American federal statute that establishes minimum standards for pension plans in private industry and provides for extensive rules on the… …   Wikipedia


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.