Louis works for Robespierre Entity. His pension benefits have not yet vested. They will vest in three years. The present value of Louis's pension benefits are included in Robespierre Entity's pension obligations.

Question

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The present value of Louis's pension benefits, even though they have not yet vested, are included in Robespierre Entity's pension obligations because they represent a future payment obligation based on current employment arrangements.

Louis Works for Robespierre Entity