Normal Service Cost Law and Legal Definition
According to 29 USCS § 1002 (Title 29; Chapter 18; Employee Retirement Income Security Program; Protection of Employee Benefit Rights; General Provisions), the term "normal service cost" or "normal cost" means “the annual cost of future pension benefits and administrative expenses assigned, under an actuarial cost method, to years subsequent to a particular valuation date of a pension plan. The Secretary of the Treasury may prescribe regulations to carry out this paragraph.”
Legal Definition list
Related Legal Terms
- Abnormal Loss
- Abnormal Profits
- Abnormal Spoilage
- Abnormally Dangerous Activity
- Above the Line Costs (Entertainment Law)
- Absent Uniformed Services Voter
- Absorption Costing
- Accelerated Cost Recovery System
- Acceptable Identification of Goods and Services Manual
- Acceptable Quality Level [Agricultural Marketing Service]
