What does inchoate refer to generally? The term inchoate is a formal word that can describe many things in various fields of life. An inchoate act defines something at an early stage, imperfectly developed, incoherent, or at the beginning of progress. It still needs to build up or form properly.&nbs...

Transaction by a tax-exempt organization with a person from inside the organization (disqualified person) that provides an economic benefit to that person that is in excess of the value of the consideration received. Compensation that is deemed to be unreasonable comprises an excess benefit and is s...

Ratio of the company's investment in noninvestment grade bonds dividend to its adjusted surplus. This ratio shows how vulnerable the company's surplus is to the market fluctuations in noninvestment grade bonds. The lower this ratio, the more financially sound the insurance company....

Scheme to recapture excess pension assets by splitting a qualified plan in two, and terminating one of them. In the mid-1980s, many pension plans became "overfunded" because their investments had performed so well. In order to recapture the "extra" money, some business firms split the pension plan i...