Authority To Terminate Plan
Means of ending a pension plan only for reasons of business necessity, following IRS regulations. If the IRS determines that the plan was terminated for other reasons, employee and employer contributions become taxable. Reasons acceptable to the IRS include bankruptcy, insolvency, and the inability of a business to continue to make its contributions because of adverse financial conditions.
Popular Insurance Terms
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Security sold by the issuer of the security directly to the purchasing financial institution without the inclusion of the investment banker in this process. Insurance companies are frequent ...
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Agent who is licensed and who markets and services insurance policies in a state in which he or she is not domiciled. ...
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