1. Period from the date a transaction is received to the date completed. 2. For insurance claims, the number of days from the date a claim is received by the insurance company to the date it is paid.

Number of times employees terminate employment other than by death (i.e., they’re fired, they resign, or they retire) and are replaced. This is a factor that affects the cost of a retirement plan.
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US: The rate at which employees terminate covered service other than by death or retirement. Expected future turnover can be taken into account in translating contributions into benefits.