Users Also Read
MCQ's Search Engine
Electrical Engineering
Mechanical Engineering
Civil Engineering
Automobile Engineering
Chemical Engineering
Computer Engineering
Electronics Engineering
Medical Science Engg
All Engineering Dictionary Terms
Definition of "Legacy Costs" |
Legacy costs is a term formed by analogy with the computer industry's legacy systems. Legacy costs are those incurred by an organization (whether corporation or city) in prior years under different leadership or when the entity's priorities and resources were different. While it can refer to other commitments (particularly existing infrastructure) as well, it primarily refers to obligations to pay health care costs and pensions under defined-benefit plans for current employees and retirees, usually incurred during the labor peace era after World War II. |
Please type any word or choose alphabet below... |
A
B
C
D
E
F
G
H
I
J
K
L
M N O P Q R S T U V W X Y Z 1 2 3 4 5 6 7 8 9 0 |