The-definition.com

Definition

Past-service credits

Past-service credits mean pension benefits awarded to employees based on service with the employer prior to the inception of the plan.

Share it:  Cite

More from this Section

  • Demand deposit
    Demand deposit is bank deposit that can be withdrawn or transferred at any time without ...
  • Liquidity
    Liquidity is the ability to sell a business or other asset quickly at a price that is ...
  • Selective Credit Control (SCC)
    Selective Credit Control (SCC) is control of credit flow to borrowers dealing in some ...
  • Ultimate net loss
    Ultimate net loss is the total amount that the insurer is legally obligated to pay in ...
  • Peak season endorsement
    Peak season endorsement is an endorsement to a business income policy for a business firm ...