accrued benefit

Definition

Pension benefit that an employee has earned based on his or her years of service at a company. Accrued benefits are often calculated in relation to the employee's salary scale.

Use accrued benefit in a sentence

You should try to figure out what would be the best accrued benefit that you could offer a prospective employee.

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It has always been a company policy to ensure that each employee is given a statement detailing his accrued benefits at the start of each new fiscal year.

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My mother was able to retire from her company after 25 years because her accrued benefit in her pension was sufficient to allow her to live at the lifestyle she had enjoyed before.

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pension plan Pension Benefit Guaranty Corporation