curtailment in pension plan Definition | Business Dictionaries from
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Business Glossary


Business Definition for: curtailment in pension plan
curtailment in pension plan

materially reducingthe expected years of future services of current employees or eliminating for a significant number of employees the accrual of defined benefits for some or all of their future services. Immediate recognition is given to the gain or loss upon curtailment. The components of the gain or loss include (1) unamortized prior service pension cost applicable to employee service no longer needed and (2) change in projected benefit obligation occurring from the curtailment.

See also settlement in pension plan , termination in pension plan
Copyright © 2005, 2000, 1995, 1987 by Barron's Educational Series, Inc., Reprinted by arrangement with Publisher.


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