What does actuarial accrued liability mean?

actuarial accrued liability meaning in Law Dictionary

significantly more than is expected for present value of a pension's future advantages or investment administration costs. Refer to unfunded actuarial obligation.

actuarial accrued liability meaning in Business Dictionary

Excess of the present value of a pension investment's total of future advantages (payable towards the retirement program individuals) and fund management costs throughout the current value of the long term regular price of those advantages. See also unfunded actuarial liability.