Frozen Keogh Plan
Plan to which contributions are not being made, but which has not been formally terminated. The freezing of a keogh plan (hr-10) may occur in the following circumstances:
- self-employed person stops contributing to the plan.
- personal corporation is dissolved and stops contributing to the plan even though the employee of the personal corporation may continue in the same occupation.
- self-employed person under the original plan may form a partnership or incorporate, necessitating the freezing of the original planand the establishment of a new plan.
Popular Insurance Terms
Losses representing claims not paid. ...
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Figure used in calculating a worker's primary insurance amount (PIA) to determine Social Security benefits in the following manner: calculate the number of years between the worker's ...
Critical point in the total amount of claims paid above which the excess insurance policy pays a percentage (generally 80-100%) of the claims for any policy year experience. ...
Average earned monthly income of the insured wage earner after regular earned income has been interrupted or terminated because of illness, sickness, or accident. This income amount is ...
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Historical mortality table that replaced the group annuity table, 1951, whose statistics at that time were more current than the replaced table. This table was subsequently replaced by the ...
Coverage in which individuals who cannot obtain conventional automobile liability insurance, usually because of adverse driving records, are placed in a residual insurance market. Insurance ...
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