Offset Approach
Method of integrating an employee's Social Security or other retirement benefits with a qualified retirement plan. Some employers offset (reduce) retirement or disability income benefits from an employee's Social Security income, reasoning that since Social Security taxes are a business expense for them, they should reduce or offset employee pension benefits by a percentage of the Social Security money. An employer with a 100% offset would subtract the entire Social Security payment from the earned pension and pay only the difference as the employee pension. A 50% offset means the employer subtracts half of the Social Security benefit from the pension benefit and pays the difference.
Popular Insurance Terms
Section of the code that qualifies that the death benefit paid under a life insurance policy is received by the beneficiary income-tax free. These tax consequences apply regardless of the ...
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Classification of ships according to their construction material, age, physical condition, propulsion type, stress tests of structure, and owners. Marine insurance rates for a particular ...
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