Accumulated Benefit Obligation definition

Accumulated Benefit Obligation or “ABO” means the present value of a member’s benefit in the FRS Pension Plan, which is the defined benefit program of the Florida Retirement System, to which the member would be entitled if the member retired from the FRS Pension Plan. This present value shall be calculated in accordance with the formula set out in Section 121.4501(3)(b)1., F.S., by the Division of Retirement within the Department of Management Services. The ABO changes on a monthly basis based on the following factors: age, service, salary level, and membership class.
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Accumulated Benefit Obligation means the actuarial present value of benefits attributed by the Foreign Plan’s benefit formula to employee service rendered prior to the valuation date based upon current and past compensation levels.
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Accumulated Benefit Obligation means such term as defined under Statement of Financial Accounting Standards No. 87.
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Examples of Accumulated Benefit Obligation in a sentence

  • The Accumulated Benefit Obligation (ABO) is determined based on each member’s accrued benefit, that is, the benefit based on employee service performed and compensation earned up to the valuation date.

  • Note when the word “always” appears in an answer choice, one exception defeats its accuracy.

  • There are four different liability concepts that we consider: Accumulated Benefit Obligation (ABO), Projected Benefit Obligation (PBO), Entry Age Normal (EAN), and Projected Value of Benefits (PVB).

  • This clarification resolves the issue of whether measurement of the liability is based on the Accumulated Benefit Obligation (an ABO calculation) or the Projected Benefit Obligation (PBO).

  • With respect to a plan, the ABO Funded Ratio shall equal the fair market value of assets of that plan divided by the Accumulated Benefit Obligation of that plan, as determined under FAS 87.

  • Parent shall have made a contribution to each Spunoff Pension Plan, and each such Spunoff Pension Plan shall be fully funded on an Accumulated Benefit Obligation basis as described in Section 11.4.2.1.

  • At the end of 2002, the Gannett Retirement Plan and the company’s plans in the U.K. were fully funded on an Accumulated Benefit Obligation measurement basis.

  • The amount of assets and Liabilities subject to the transfer shall be calculated on an Accumulated Benefit Obligation basis, as determined under FAS 87, by the trustees of those plans, in consultation with Xxxxxx Human Resources Consulting LTD, and the amount of the transfer and the terms and conditions of the transfer shall be approved by Xxxxxx'x Vice President, Compensation and Development and Hospira's Vice President of Compensation & Benefits.

  • The portion of the proration that is attributable to past service is called the Accumulated Benefit Obligation.

  • October 31 October 31 Accumulated Benefit Obligation at the End of the Period....................................................


More Definitions of Accumulated Benefit Obligation

Accumulated Benefit Obligation shall have the meaning given to that term in paragraph 18 of Statement of Financial Accounting Standards No. 87.
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Accumulated Benefit Obligation and "Plan Assets" have the meaning specified in accordance with SFAS 87.
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Accumulated Benefit Obligation of such Plan, as determined for purposes of GAAP, using methods and assumptions required under GAAP.
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Accumulated Benefit Obligation shall be given the meanings assigned to them in FAS 87 and the "Projected Benefit Obligation" and the "Accumulated Benefit Obligation" shall be calculated in accordance with FAS 87 and on the basis of the actuarial assumptions and methods set forth in Schedule 2.7.
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Accumulated Benefit Obligation has the meaning given in Section 2.7(ii).
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Related to Accumulated Benefit Obligation

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Unfunded Benefit Liabilities means with respect to any Plan at any time, the amount (if any) by which (i) the present value of all benefit liabilities under such Plan as defined in Section 4001(a)(16) of ERISA, exceeds (ii) the fair market value of all Plan assets allocable to such benefits, all determined as of the then most recent valuation date for such Plan (on the basis of assumptions prescribed by the PBGC for the purpose of Section 4044 of ERISA).

  • Other Benefit Obligations means all obligations, arrangements, or customary practices, whether or not legally enforceable, to provide benefits, other than salary, as compensation for services rendered, to present or former directors, employees, or agents, other than obligations, arrangements, and practices that are Plans. Other Benefit Obligations include consulting agreements under which the compensation paid does not depend upon the amount of service rendered, sabbatical policies, severance payment policies, and fringe benefits within the meaning of IRC Section 132.

  • Vested Benefits means amounts which are vested or which Executive is otherwise entitled to receive under the terms of or in accordance with any plan, policy, practice or program of, or any contract or agreement with, the Company or any of its subsidiaries, at or subsequent to the date of his termination without regard to the performance by Executive of further services or the resolution of a contingency.

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

  • Extended benefit period means a period which:

  • Average final compensation means the average annual creditable compensation of a member during

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Final compensation of a member means:

  • SERP Benefit means the benefit described in Section 5.1.

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Accumulated contributions means the sum of all

  • Retirement Benefit means the benefit set forth in Article 5.

  • Benefit Amount shall have the meaning set forth in Section 20.12 hereof.

  • Excess Earnings means the difference, if any, between reported compensation and the limits

  • Account Balance means, with respect to a Participant, an entry on the records of the Employer equal to the sum of (i) the Deferral Account balance, (ii) the Company Contribution Account balance, and (iii) the Company Restoration Matching Account balance. The Account Balance shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant, or his or her designated Beneficiary, pursuant to this Plan.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Defined Benefit Fraction means a fraction, the numerator of which is the sum of a Participant’s Projected Annual Benefits under all the qualified defined benefit plans (whether or not terminated) maintained by the Employer determined at the end of the Limitation Year, and the denominator of which is the lesser of 125% of the dollar limitation determined for the Limitation Year under Sections 415(b) and (d) of the Code or 140% of the highest average Limitation Compensation, including any adjustments under Section 415(b) of the Code. Notwithstanding the above, if the Participant was a Participant as of the first day of the first Limitation Year beginning after December 31, 1986, in one or more defined benefit plans maintained by the Employer which were in existence on May 6, 1986, the denominator of this fraction will not be less than 125% of the sum of the annual benefits under such plans which the Participant had accrued as of the close of the last Limitation Year beginning before January 1, 1987, disregarding any changes in the terms and conditions of the Plan after May 5, 1986. The preceding sentence applies only if the defined benefit plans individually and in the aggregate satisfied the requirements of Section 415 of the Code for all Limitation Years beginning before January 1, 1987.

  • Disability Benefit means the benefit set forth in Article 8.

  • Termination Benefit means the benefit set forth in Article 7.

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—

  • Defined Benefit Plan Fraction means a fraction, the numerator of which is the projected annual benefit (determined as of the close of the relevant Plan Year) of the Participant under all Defined Benefit Plans maintained by one or more Related Companies, and the denominator of which is the lesser of (i) the product of 1.25 multiplied by the dollar limitation in effect under Section 415(b)(1)(A) of the Code for the Plan Year, or (ii) the product of 1.4 multiplied by the amount which may be taken into account under Section 415(b)(1)(B) of the Code with respect to the Participant for the Plan Year.

  • Benefit Distribution Date means the date upon which all or an objectively determinable portion of a Participant’s vested benefits will become eligible for distribution. Except as otherwise provided in the Plan, a Participant’s Benefit Distribution Date shall be determined based on the earliest to occur of an event or scheduled date set forth in Articles 4 through 9, as applicable.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Disability retirement for plan 1 members, means the period