Keogh Plan (hr-10)
Act first passed in 1962 that permits the self-employed individual to establish his or her own retirement plan. This individual can make nondeductible voluntary contributions and tax-deductible contributions subject to a maximum limit of 25% of earned income up to $30,000 for a defined contribution plan after the reduction for the contribution to the Keogh Plan. This is an equivalent rate of 20% of earned income prior to the contribution to the Keogh Plan.
Popular Insurance Terms
Method of underwriting by which one or a group of Lloyd's underwriters write business on behalf of a number of Lloyd's syndicates and other insurance companies. Among the benefits of ...
Coverage of two or more persons with the death benefit payable at the first death. Premiums are significantly higher than for policies that insure one person, since the probability of ...
Organization based in Washington, D.C., that is composed of risk and insurance managers of various public entities, to include municipalities and school boards. ...
Insurance arrangement in which all employees of a given business firm are accepted into a plan regardless of their physical condition. The employee cannot be required to take a physical ...
Use of engineering approved fire resistive construction materials exclusively within a structure. ...
Same as term Mortality Table: chart showing rate of death at each age in terms of number of deaths per thousand. ...
Coverage provided by the pension benefit guaranty corporation (pbgc) that guarantees participants a certain level of pension benefits even if the plan terminates without assets. The PBGC ...
Group arrangement in which a network of attorneys provides legal services to the participants in the plan with the attorney fees being reimbursed by the provider. The attorneys who are ...
Legal status giving an insurance company all rights to an insured's property. The abandonment clause is usually found in marine insurance and not in other property insurance policies such ...
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