The actuarial present value of an employer's postretirement benefits other than pensions, attributed to employee service rendered up to a specified date. These benefits often include retiree medical or retiree life insurance benefits.
The actuarial present value as of a specific date of all benefits attributed by the pension benefit formula to employee service performed before that date. It is measured using assumptions as to future compensation levels if the pension benefit formula is based on those future salary levels (e.g., pay-related, final-pay).
