Pension Plan Funding: Group Immediate Participation Guaranteed (IPG) Contract Annuity
Modification of the group deposit administration annuity under which an employer participates in the investment (which may prove to be adverse as well as favorable), mortality, and expense experience of the plan on an immediate basis. Under the IPG, contributions are paid into a fund to which interest is credited. At retirement, an immediate annuity is purchased for the employee. The size of the benefit will depend on the benefit formula used and the investment, mortality, and expense experience of the plan.
Popular Insurance Terms
Coverage outside an insured's home for personal items usually carried or worn while traveling. Protection is for personal property (apparel and jewelry), not for real property or property ...
Fund established to pay specified losses, usually the low severity property losses. This type of account is an excellent device in conjunction with a self-insurance plan, in which the fund ...
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Organization formed to encourage research in insurance and to foster an exchange of ideas and research methodology among the society members. ...
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difference between the face value of a permanent life insurance policy and its accrued cash value. The pure cost of protection is based on this difference. For example, if the face value ...
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