Profit Sharing/money Purchase Combination Plan
Joint profit sharing and money purchase plan that is appropriate for businesses that desire the funding flexibility of the profit sharing plan and the higher tax-deductible (25% vs. 15%) contribution of the money purchase plan. This combination of the two plans provides that the profit sharing contributions remain discretionary and the money purchase contributions remain mandatory.
Popular Insurance Terms
Method of determining reimbursement from medical insurance according to diagnosis on a prospective basis. It originated with the medicare program. ...
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Modest life insurance coverage to pay burial expenses upon the death of an insured. ...
Same as term Adjuster: individual employed by a property and casualty insurance company to settle on its behalf claims brought by insureds. The adjuster evaluates the merits of each claim ...
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