Past Service

Past Service
Service to an employer that is recognized for the defined benefit pension plan purposes, but either occurred before the employee was a member in the plan, or before the plans inception. Employees have the option to purchase past service, by cash or by qualified retirement plan roll-over, to increase their years of service in the calculation of their retirement pension.

In cases where employees are considering rolling over the assets from their qualified retirement plan, it is often wise to first consult a financial planner. Depending on a number of factors, such as employee life expectancy, marital status and quality of the pension plan, it may or may not be beneficial to make the roll-over.


Investment dictionary. . 2012.

Игры ⚽ Поможем написать реферат

Look at other dictionaries:

  • past service reserve — England, Scotland, Wales An actuarial method for calculating the value of a member s benefits in a defined benefit pension scheme (defined benefit scheme). The method uses the value of the member s accrued benefits based on his pensionable… …   Law dictionary

  • past service — noun Etymology: past (I) : the period of a worker s employment prior to the effective date of a pension plan for which credit is given in determining the amount of his pension …   Useful english dictionary

  • Service of process — is the procedure employed to give legal notice to a person (such as a defendant) of a court or administrative body s exercise of its jurisdiction over that person so as to enable that person to respond to the proceeding before the court, body or… …   Wikipedia

  • Service-learning — is a method of teaching, learning and reflecting that combines academic classroom curriculum with meaningful service, frequently youth service, throughout the community. As a teaching methodology, it falls under the philosophy of experiential… …   Wikipedia

  • Service-oriented modeling — cite book |last=Bell |first=Michael|title=Service Oriented Modeling: Service Analysis, Design, and Architecture|year= 2008 |publisher=Wiley Sons|isbn=978 0 470 14111 3 |chapter=Introduction to Service Oriented Modeling] is a software development… …   Wikipedia

  • Service federal de securite de la Federation de Russie — Service fédéral de sécurité de la Fédération de Russie Blason du FSB Le FSB (ФСБ) ou « Service fédéral de sécurité de la Fédération de Russie », en russe Federalnaïa Sloujba Bezopasnosti Rossiyskoï Federatsii (Федеральная служба… …   Wikipédia en Français

  • Service fédéral de sécurité — de la Fédération de Russie Blason du FSB Le FSB (ФСБ) ou « Service fédéral de sécurité de la Fédération de Russie », en russe Federalnaïa Sloujba Bezopasnosti Rossiyskoï Federatsii (Федеральная служба безопасности Российской Федерации)… …   Wikipédia en Français

  • Service fédéral de sécurité de la fédération de russie — Blason du FSB Le FSB (ФСБ) ou « Service fédéral de sécurité de la Fédération de Russie », en russe Federalnaïa Sloujba Bezopasnosti Rossiyskoï Federatsii (Федеральная служба безопасности Российской Федерации) est un service secret de la …   Wikipédia en Français

  • PAST Foundation — The PAST Foundation Formation 2000 Headquarters Columbus, OH, U.S. Website …   Wikipedia

  • Service-learning in Engineering Education — Many engineering educators see service learning as the solution to several prevalent problems in engineering education today. In the past, engineering curriculum has fluctuated between emphasizing engineering science to focusing more on practical …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”