Pension Plans: Distributions

Definition of "Pension plans: distributions"

Glenda Janczewski real estate agent

Written by

Glenda Janczewskielite badge icon

EXP Realty LLC

Prior to 1988, right to withdraw retirement assets before age 59 1/2 without having to pay a 10% penalty under the following circumstances:

  1. medical expenses are incurred.
  2. the plan participant becomes disabled. With the passage of the TECHNICAL AND MISCELLANEOUS REVENUE ACT OF 1988 (TAMRA): EMPLOYEE BENEFITS a third option is available to the plan participant:
  3. distribution must be a part of a scheduled series of substantially equal periodic payments. The distributions must be made in such amanner that they will continue for the lifetime of the plan participant or the joint lifetime of the plan participant and his or her beneficiary.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Same as term Cancel: termination of a policy. Contract may be terminated by an insured or insurer as stated in the policy. If the insurance company cancels a policy, any unearned premiums ...

Coverage on fur coats as well as other clothes that have, fur trim. Protection is provided at any location on an all risks basis subject to the exclusions of wear and tear, war, and nuclear ...

Insurance salesperson who markets and services policies in one or more states and holds a supervisory position. ...

The definition of special acceptance explains how two insurance institutions work together for the benefit of the masses. In order to define what special acceptance means, we must ...

One of the major underwriting organizations for insurance company pools insuring commercial aircraft liability exposure. ...

Life insurance policy (individual or employee group basis) providing protection for a passenger on a regularly scheduled airline. ...

Form of substandard ratings that shows additions to standard premiums to reflect physical impairments of applicants for life or health insurance. The additions reflect the greater ...

Reinsurance broker for a primary company (the re-insured). This broker is paid commissions by the reinsurance company, just as an agent is paid commissions by an insurance company for ...

Table used by the Internal Revenue Service (IRS) in evaluating split dollar life insurance plans as to the extent of the economic benefit that is considered taxable ordinary income to the ...

Popular Insurance Questions