Liability of pension plans in ABO
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saunderson
Apprentice
Joined: 26 Jan 2006
Posts: 4
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 Posted: 09/10/08 - 04:49 Post subject: |
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| Good morning people. I was wondering if you could tell me something about liability of pension plans in ABO. The thing is that I wanted to withdraw earlier from my pension plan, but a friend of mine told be to ask about ABO. Can any of you explain to me what ABO is? Thank you in advance. |
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claudell
Apprentice
Joined: 12 Feb 2005
Posts: 2
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| Posted: 10/10/08 - 03:05 Post subject: |
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| Hello there. Well, here is the thing. Terminating a pension plan, insurance policy or something else of that kind cannot go without consequences. The thing is that you signed a contract by which you are obliged to invest in the plan until a certain date. If you withdraw, you are leaving the company without some sum which they expected to get. That is why you would have to pay accumulated benefit obligation. It is a charge for early withdrawal calculated in a special way. ABO is estimated liability exactly when the calculation is made. Basically, that’s it. I hope that you’ll be satisfied with this post. Good bye! |
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