vested liabilities
Defined in 2 dictionaries — Case Law, U.S. Code
Definitions from Case Law
United States Supreme Court
the present value of the immediate or deferred benefits available at normal retirement age for participants and their beneficiaries which are nonforfeitable.
Defined by the Supreme Court in Nachman Corporation v. Pension Benefit Guaranty Corporation, 446 U.S. 359 (1980).
United States Code
29 U.S.C. § 1002 — for purposes of this subchapter
The term “vested liabilities” means the present value of the immediate or deferred benefits available at normal retirement age for participants and their beneficiaries which are nonforfeitable.