Nondiscrimination Rules
Definition of "Nondiscrimination rules"
Rules stating that, under the tax EQUITY AND RESPONSIBILITY ACTS OF 1982 AND 1983 (TEFRA), a plan can not discriminate in favor of key employees regarding contributions and benefits if favorable tax treatment is to be retained. For example, the premiums the employer pays on behalf of the employee for the first $50,000 of group term life insurance are not considered taxable income to the employee if the plan does not discriminate.
Popular Insurance Terms
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Date of issue of the policy. ...
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Important 1944 U.S. Supreme Court ruling that the insurance business constituted interstate commerce and was thus subject to the SHERMAN antitrust act. This decision came in U.S. v. ...
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