A pension in which an employee (or employee’s estate) has rights to benefits purchased with the employer’s contributions to the plan, even if the employee is no longer employed by this employer at the time of retirement. • The vesting of qualified pension plans is governed by ERISA. See EMPLOYEE RETIREMENT INCOME SECURITY ACT. [Cases: […]
vested pension 〈美〉既定的养老金 养老金的一种，僱员(或其继承人)据此可以对僱主根据计划而出资购买的养老金利益主张权利，即使该僱员退休时已不再受雇于该僱主。有关该养老金计划由《僱员退休收入保障法》〔Employees Retirement Income Security Act/ERISA〕调整。
pension. A fixed sum paid regularly to a person (or to the person’s beneficiaries), esp. by an employer as a retirement benefit. Cf. ANNUITY (3). [Cases: Pensions 2, 24–27. C.J.S. Pensions and Retirement Plans and Benefits §§ 7, 16–17, 19.] vested pension. A pension in which an employee (or employee’s estate) has rights to benefits
investment contract. 1. A contract in which money is invested in a common enterprise with profits to come solely from the efforts of others; an agreement or transaction in which a party invests money in expectation of profits derived from the efforts of a promoter or other third party. 2. A transaction in which an
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A pension voluntarily granted by a public entity. • The gratuitous (rather than contractual) nature of this type of allowance gives the pensioner no vested rights in the allowance. [Cases: Pensions 2.]
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actuarially sound retirement system. A retirement plan that contains sufficient funds to pay future obligations, as by receiving contributions from employees and the employer to be invested in accounts to pay future benefits. Cf. NONACTUARIALLY SOUND RETIREMENT SYSTEM. [Cases: Pensions 48. C.J.S. Pensions and Retirement Plans and Benefits §§ 23–25, 27.]
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abeyance ([schwa]-bay-[schwa]nts), n. 1. Temporary inactivity; suspension. 2. Property. A lapse in suc-cession during which no person is vested with title. — abeyant, adj. “Abeyance, from the French bayer, to expect, is that which is in expectation, remembrance, and intendment of law. By a principle of law, in every land there is a fee simple