### Question
Can you define what current liability means?


### Answer
**Current liability** is defined as the following in *29 U.S.C. § 1082*:

> given such term by subsection (d)(7) of this section (without regard to subparagraph (D) thereof), and


(II) assets shall not be reduced by any credit balance in the funding standard account.

#### Citation:
  - *29 U.S.C. § 1082*
  - Heading: **CHAPTER 18-EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM > SUBCHAPTER I-PROTECTION OF EMPLOYEE BENEFIT RIGHTS > Subtitle B-Regulatory Provisions > part 3-funding**

