Section 926 - Employee Pensions and BenefitsA. This account shall include pensions paid to or on behalf of retired employees, or accruals to provide for pensions, or payments for the purchase of annuities for this purpose, when the utility has definitely, by contract, committed itself to a pension plan under which the pension funds are irrevocably devoted to pension purposes, and payments for employee accident, sickness, hospital, and death benefits, or insurance therefor. Include, also, expenses incurred in medical, educational or recreational activities for the benefit of employees, and administrative expenses in connection with employee pensions and benefits.B. The utility shall maintain a complete record of accruals or payments for pensions and be prepared to furnish full information to the Department of the plan under which it has created or proposes to create a pension fund and a copy of the declaration of trust or resolution under which the pension plan is established.C. There shall be credited to this account the portion of pensions and benefits expenses which is applicable to nonutility operations or which is charged to construction unless such amounts are distributed directly to the accounts involved and are not included herein in the first instance.D. Records in support of this account shall be so kept that the total pensions expense, the total benefits expense, the administrative expenses included herein, and the amounts of pensions and benefits expenses transferred to construction or other accounts will be readily available.ITEMS
1. Payment of pensions under a nonaccrual or nonfunded basis.2. Accruals for or payments to pension funds or to insurance companies for pension purposes.3. Group and life insurance premiums (credit dividends received).4. Payments for medical and hospital services and expenses of employees when not the result of occupational injuries.5. Payments for accident, sickness, hospital, and death benefits or insurance.6. Payments to employees incapacitated for service or on leave of absence beyond periods normally allowed, when not the result of occupational injuries, or in excess of statutory awards.7. Expenses in connection with educational and recreational activities for the benefit of employees.NOTE A. - The cost of labor and related supplies and expenses of administrative and general employees who are only incidentally engaged in employee pension and benefit activities, may be included in accounts 920, Administrative and General Salaries, and 921, Office Supplies and Expenses, as appropriate.
NOTE B. - Salaries paid to employees during periods of non occupational sickness may be charged to the appropriate labor account rather than to employee benefits.