Unit benefit formula

(redirected from Unit Benefits)

Unit benefit formula

Method used to determine a participant's benefits in a defined benefit plan. Involves multiplying years of service by the percentage of salary.

Unit Benefit Formula

In a defined-benefit plan, a method used to determine how much money the beneficiary receives each month. A defined-benefit plan is a retirement plan or other annuity in which the annuitant knows in advance how much he/she will be entitled to when he/she begins receiving payments. The unit benefit formula is thus stated in the annuity contract and is usually some function of the amount the annuitant contributed combined with the number of years he/she contributed.
References in periodicals archive ?
0-litre fourcylinder Ingenium petrol unit benefits from the latest Jaguar Land Rover engine technology, including twin-scroll turbochargers with new ceramic ball bearings that reduce friction and a high-flow compressor wheel to deliver enhanced performance.
With its predecessors naturally aspirated, the new unit benefits from a turbocharger, boosting low-end power delivery.
As well as enjoying synergies across fleet planning, IT and finance departments, the low-cost unit benefits from its parent's pre-existing web of commercial partnerships.
While its predecessors were naturally aspirated, the new unit benefits from a turbocharger, boosting low-end power delivery.
When volunteer resources is placed within a specific client service, program, or unit, that particular unit benefits from a strong volunteer component, but the VRM can end up buried in that one unit with little opportunity for widespread engagement throughout the organization.
As a combination, every bowling unit benefits from each other's success and bowling strengths," the off-spinner said.
Under this definition, each unit benefits only tangentially from the activities of the other two, and those benefits that do accrue to Caremark or MinuteClinic from their alliance with CVS can more accurately be attributed to chance than to planning or perspicacious thinking.
Hay & Kilner's family unit benefits from collaboratively trained solicitor Nicola Matthews, who is rated by The Legal 500 as "one of Newcastle's best financial relief lawyers", and higher rights advocate Robert Hart, who is "one of the top practitioners in children work".
67-acre site on Pool Road Industrial Estate, the two-bay unit benefits from gasfired central heating and an excellent yard.
Our unit benefits from all the heart and soul Elaine shares.