current service cost definition
current service cost means the actuarial present value of benefits earned under the provisions of the plan with respect to a plan year, determined in accordance with the actuarial methods and assumptions used in the valuation on an ongoing basis adopted by the administrator, on the advice of the actuary, and applying to the plan year.
current service cost means the present value of the benefits expected to be earned by all Active Members in the Pension Plan in the year subsequent to the valuation date, determined on the basis of a going concern actuarial valuation as reported in an Actuarial Valuation Report;