ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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THREE PERCENT (3%) RULE Definition
THREE PERCENT (3%) RULE is a rule used in vesting pension plan benefits. The participants accrued benefit must be at least equal to 3% of the participants normal projected retirement benefit for each year of participation, with a maximum of 100% after 33 1/3 years of participation.
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OPERATING EXPENSES is all selling and general & administrative expenses. Includes depreciation, but not interest expense.
ORIGINAL EQUIPMENT MANUFACTURER (OEM) is a company that builds components or systems that are used in systems or products sold by another company using the purchasing companys brand. Sometimes referred to as "private label."