Maximum Deductible Contribution
Definition of "Maximum deductible contribution"
Limit allowed by law on employee salary reduction plans. Many pension plans, as well as the popular 401 (k) plan, allow employees to set aside pre-tax dollars in a company-sponsored retirement account, often matched by a company contribution. But the amount contributed by the employee is regulated by law. For example, the maximum annual contribution for the 401 (k) plan, which was $30,000 per year in 1986, was reduced to $7000 by the TAX REFORM ACT OF 1986.
Popular Insurance Terms
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Coverage that is excluded under commercial general liability insurance (comprehensive general liability insurance) for the loss of use of undamaged tangible real or personal property as the ...
Insurance coverage sold by a broker as contrasted with insurance coverage sold by an agent. ...
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State plans that provide health insurance coverage for those who are unable to purchase medical insurance. Coverage is provided by a specially formed nonprofit-making pool comprised of all ...
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