collectively bargained retiree liabilities
Defined in 1 place of the United States Code.
The term “collectively bargained retiree liabilities” means the present value, as of the beginning of a taxable year and determined in accordance with the applicable collective bargaining agreement, of all collectively bargained health benefits, and collectively bargained life insurance benefits, (including administrative expenses) for such taxable year and all subsequent taxable years during the collectively bargained cost maintenance period.
Source
- 2012–present26 U.S.C. § 420Internal Revenue Code · Transfers of excess pension assets to retiree health accounts · for purposes of this section