General University of Maine Publications

Document Type

Presentation

Publication Date

6-30-2008

Abstract/ Summary

The Defined Benefit Pension Plan (Pension Plan) is a closed plan which is maintained for eligible employees who chose not to join the Defined Contribution Plan established for hourly employees on July 1, 1998. This plan covers a shrinking closed group of active employees; the rest are vested terminations and pensioners. The Defined Benefit Plan is a separate trust with assets that exceed the Pension Plan actuarial accrued liability.

Version

publisher's version of the published document

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