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Benefit Offset
(redirected from Benefit Offsets)

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Benefit Offset
A reduction of benefits that a retiree receives when he/she has not made sufficient contributions to a retirement plan. Many retirement plans and government programs allow benefit offsets when the beneficiary has overdue payments and/or has not contributed for a certain period of time. A benefit offset exists to protect the company or government from abuse by beneficiaries.


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Large benefit offsets would make personal accounts less costly for the trust fund but riskier for the worker.
Missing components that will have to be added relate to payment and taxation of benefits, benefit offsets with other income sources, individual reserve valuation and general plan benefit calculation.
The ICIP tax benefit offsets the physical increase in a building's AV [assessed valuation] that will ordinarily result from a subtantial rehabilitation.
 
 
 
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