A company which offers its employees a specifically defined pension but does not have the funding to provide those funds at the time that each employee retires. Typically this occurs when investments fail to perform well. A company is responsible for independently covering an shortfall in an employee’s pension.

Previous Terms: 1031 Exchange, 1035 Exchange, AARP, Abeyance, Abstraction Principle, Accelerated Amortization, Acceptance Credit, Acceptance of a Bill of Exchange, Accommodation Bill, Accommodation Endorser