The portion of a participant’s pension benefit that relates to his credited service in a contemporary period, usually 12 months.
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Numerical Rating
An underwriting method of determining the extra rate to be charged for a substandard insured. “Standard” is rated 100. Various impairments are assigned various numerical values. The sum of 100 plus the values of the ratings of the impairments indicates the table to use in determining the rate of the policy.