Active employees fully eligible for benefits
(for example, those eligible active employees age 55 with at least 10 years of service and not yet retired).
This is not surprising, given the effect the FASB's OPEB project will have on the employer's accounting for benefit
However, there is no required offset for benefits
accrued under a defined-benefit plan.
Under ERISA a company can choose to define who is eligible for benefits
," Thorpe notes.
Focusing on general users and not reporting separate estimates for benefits
related to teachers will reduce the number of survey completions required for reliable statistical inference by two-thirds.
There is no nondiscrimination requirement for benefits
provided outside a section 125 cafeteria plan when employees do not have a cash alternative.
419(c)(3), the qualified cost for 1990 includes only amounts that would have been allowable as a deduction to the taxpayer for benefits
provided during 1990, if such benefits were provided directly by a cash-method taxpayer.
112 requires accrual accountig for benefits
provided former or inactive employees after employment but before retirement--including salary continuation, disability, severance and health care.
There is no similar provision for benefits
from other plans.
However, individuals in poor health or those able to produce aftertax returns higher than 5% may be better off opting for benefits
Both 106 and 87 say that the expense reflected on a company's income statement for benefits
should consist of the following components:
In June 1991, the DOL and the PBGC issued a notice of advance rulemaking(18) on the purchase of annuities for benefits
distribution and possible changes to the existing minimum standard in DOL Regs.
A Department of Labor study estimated the liability for benefits
promised to existing workers over the age of 40 at $98 billion.
Exacerbating the need for benefits
education and advice is employees' growing dependence on the workplace as a channel for purchasing protection, investment and advisory-related products.
A policy that defines disability as the inability to perform one's own occupation means the insured is considered disabled and eligible for benefits
if he is unable to engage in any and all duties of his own occupation.