For-Benefit

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For-Benefit

Describing a sector of the economy that is not opposed to making a profit but primarily exists for another purpose. A for-benefit company uses profit to promote efficiency but has statutory responsibilities beyond maximizing value for stockholders or owners.
References in periodicals archive ?
But BOC wanted to remove age as a factor for benefit accruals, emphasize length of service and pay and redistribute the pension-plan assets along those lines.
The expansion of our distribution alliance with TriZetto is an excellent opportunity for Benefit Informatics to provide our services to more leading benefit administrators," said Philip Kurtz, Benefit Informatics president and CEO.
At the same time, regulations governing Section 125 plans have become more restrictive as the need for benefit restructuring has extended beyond welfare benefits to retiree benefits, including retiree medical.
We were pleased to learn that our trademark application for Benefit Manager([R])has received approval," said Benefit Informatics President and CEO Philip Kurtz.
E[acute accent]"We were pleased to learn that our applications for Benefit Analyzer(R) and Benefit Planner(R) have been approved as trademarks," said Benefit Informatics President and CEO Philip Kurtz.
It is calculated by applying the beginning-of-the-year discount rate to the beginning-of-the-year APBO, adjusted for benefit payments to be made during the period.
Plan two was maintained for the benefit of "outside directors," providing for benefit payments to begin after retirement or following the termination within three years after a change of control.
In many respects, the accounting and financial reporting standards for benefit plans--be they defined benefit, defined contribution or health and welfare benefit plans--are dictated by ERISA and by Financial Accounting Standards Board Statement no.
Nuvosoft's Rbenefits saves time for benefit administrators and employees by replacing paper-based systems with real-time, online access to benefit information.
announced today that it has signed a multi-year agreement for benefit plan services and technology with Illinois-based Benefit Administrative Systems LLC.
Furthermore, a defined benefit plan is the most wished for benefit among employees that do not have one.
The three-year agreement, worth over $18 million, calls for Benefit Planners to provide comprehensive benefits administration services for the more than 31,000 state and local government employees covered by the State of Nevada Public Employees' Benefits Program, which includes self-funded medical, dental and vision plans for both active and retired employees.