The corridor is defined as 10% of the greater of the beginning of the year projected benefit obligation or the end of the year fair value of the plan. 4. The vested benefit obligation is the benefits employees are entitled to receive even if they are no longer employed by the company.
A pension plan provides for future retirement income based on the employee's earnings and length of service with the company. This type of pension plan is termed a A. contributory plan B. defined contribution plan C. noncontributory plan D. defined benefit plan 14.