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Benefit offset

A partial or complete loss of retirement plan benefits which may result when an employee owes Money to his or her plan or receives benefits from another source. The Social Security Act includes a Provision for withholding up to 10% of benefits from beneficiaries who owe Money to their plan.

Related Terms: 12 Benefit, CLU, ECU, Heir, Inc., ITS, Money, Owe, Provision, Retire, SEC, Social Security
Other Related Pages: Category: Retirement Starting With: B
Additional Related Terms: 10-Q, 10-K, 12b-1 funds, 401(k) plan, 403(b) plan, 457 plan, Allowance for depreciation, Above par, Accrual of discount, Agency security