future service benefit

noun

Definition of future service benefit

: a pension benefit based on length of prospective service between employment date and retirement age and payable out of funds contributed by the employer, the employee, or both

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“Future service benefit.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/future%20service%20benefit. Accessed 12 Aug. 2020.

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