Accrued Monthly Benefit

Meet Bob. He joined HAL 35 years ago, got the gold watch, and after 700 months at the firm, is set to retire. For each of those months, HAL contributed about $100 into his pension fund, which now stands as being worth almost a million bucks. That monthly benefit accrued over time, sitting in his pension fund, and it's payable to Bob as a benefit for his years of service parking cars. He was the best.