Member’s period of service with the employer before joining the pension scheme or before a particular date. The benefit allowed in respect of previous service is called past service benefit.
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Past service benefit
Pension plan credit given for an employee’s past service before the establishment of the plan.
Past service benefit (Pensions)
Credit given for time an employee worked prior to a pension or other retirement plan being instituted.
Past service cost
Total value (single sum) of the past service benefits plan beginning with the effective date of the plan.
Past service liability (Pensions)
The starting value of a pension plan made up of annuity credits that are vested before the effective date.
Past service reserve
Method of calculating the value of a member’s pension scheme benefits. It takes account of reserves in a final salary scheme to cover future salary increases due to inflation and career enhancement.
past, family, and social history (PFSH)
Review and documentation of the patient’s past history, family history, and social history for the patient’s health record. When billing an evaluation and management service there must be documented review of two, or for comprehensive assessment all three areas (past, family, and/or social history) are required.
Patent
A monopoly granted by the state to an inventor of a manner of new manufacturer for a limited number of years in return for his disclosure of his invention.
Patent Insurance
Insurance against loss due to infringement of the insured’s patent, or due to claim of infringement of the other’s patent by the insured.
PATH
See: physicians at teaching hospitals (PATH).