A glossary of pension and benefits terms

|CHRR, Guide to Pensions & Benefits|Last Updated: 03/15/2001

accrued (accrual) — Accumulated, as in pension benefits or actuarial costs of liabilities, during years of employee service before a specific valuation date of a pension plan.

accumulation period — A specific period during which the insured person must incur eligible medical expenses at least equal to the deductible to establish a benefits period under an extended health, drug or similar insurance plan.

actuarial method — A procedure by which data are analyzed and actuarial assumptions are used to estimate a future cost or other actuarial item.