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
Assets of an insurer that are due and payable in the current year but have yet to be received by the insurer. ...
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Disability in which a wage earner is forever prevented from working because of injury or illness suffered. ...
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Difference in the amount of losses between the beginning and end of a time period. ...
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