United States Government Glossary of Interagency and Associated Terms/accrued liability
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| accrued liability - the excess of the present value, as of a particular valuation date of a pension plan, of the projected future benefit costs and administrative expenses for all plan participants and beneficiaries over the present value of future contributions for the normal cost of all applicable plan participants and beneficiaries. The Secretary of the Treasury may prescribe regulations to carry out this paragraph. | (SOURCE - DOL, US Code 29, §1002) |