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Glossary of terms

 Current Assets
Those assets of a company that are reasonably expected to be realized in cash or sold or consumed during the normal operating cycle of the business. These include cash U.S. government bonds receivables money due (usually within one year) and inventories.-
 Current Liability
Money owed and payable by a company usually within one year.-
 Current Service Benefit
The annuity payable for each year of participation in the plan after its adoption. That portion of a participant’s retirement benefit that relates to his or her credited service in a contemporary period (usually a year).-
 Current Value
Fair market value where available. Otherwise it is the fair value as determined in good faith by a trustee or a named fiduciary pursuant to the terms of the plan and in accordance with regulations of the secretary of labour assuming an orderly liquidation at the time of such determination.-
 Current Yield
Annual bond interest divided by market price per bond.-
A reduction of future benefits or augmenting of eligibility requirements in a qualified plan that causes a partial termination of the plan.-
 Custodial Care
General assistance in performing the activities of daily living as well as board room and other services generally provided on a long-term basis and that do not include a medical component.-

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