For-Benefit

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Also found in: Idioms.

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.
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References in periodicals archive ?
* Specifies the presentation requirements for benefit obligations information.
A buyer's existing employees might not experience "separation from service" (a trigger for benefit payments), unless the buyer purchased at least 85% of a new company's assets.
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.
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.
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.
* Allow plan sponsors to plan effectively for benefit programs.
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.
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.
Once the taxpayer reaches full retirement age, he or she simply files for benefits and then makes another filing to suspend these benefits.
Financial challenges, lack of retirement funds and the need for benefits are some of the reasons older individuals are remaining on the job.
An actuarial valuation is required biennially for employers with membership of 200 or more employees, terminated employees who will be eligible for benefits, and retired employees and beneficiaries receiving benefits.
What is this country coming to when some in Congress say veterans might need to pay for legal assistance in filing claims with the Department of Veterans Affairs for benefits they have earned as a result of their service and sacrifice for our nation?