Nominal Account

Nominal Account

A business account in which the balance is closed out after the end of the fiscal year. See also: Real account.
References in periodicals archive ?
Interest is credited on an employee's nominal account at a fixed rate (or may be based on an index rate or other variable rate).
Some plans offer partial lump:-sum distributions Disability and Provided based on plan formula Preretirement Death Benefits Postemployment Often the plan provides COLA a COLA Defined Contribution Plan Basis of Benefit Account balance based on employer and employee contributions plus actual investment eaminAs Benefit Lump-sum payment, with ability Distribution to rollover to other qualified retirement ,Ians Disability and Provided as a lump-sum Preretirement distribution of the individual's Death Benefits account balance Postemployment Not offered COLA Cash Balance Plan Basis of Benefit Nominal account balance based on employee contributions and employer pay credits plus credited interest Benefit Lifetime annuity with optional Distribution forms of payment.
DSAT was built with a grant from the Department of Energy and the standard version of the tool is free to use, with more advanced features available for a nominal account upgrade fee.