Restoration Of Plan
Definition of "Restoration of plan"
Authority of the pension benefit guaranty corporation (pbgc) to stop the termination of a pension plan and restore it to its previous status by returning a portion or all of the plan's assets and liabilities. For example, such an action could be taken by the PBGC when a company whose pension plan is being terminated has experienced a reversal in the adverse conditions that originally caused the termination.
Popular Insurance Terms
Professional designation awarded by the American College. In addition to professional business experience in financial planning, recipients are required to pass national examinations in ...
Termination of a plan. Under federal tax law, a plan can only be terminated for reasons of business necessity. Otherwise, prior employer tax deductible contributions under the plan are ...
Amount of required capital that the insurance company must maintain based on the inherent risks in the insurer's operations. These risks include asset depreciation risk, credit receivables ...
Right that has a limited time in duration for an individual to receive the income generated by assets owned by another individual. ...
Section of the Internal Revenue Code that provides for SIMPLIFIED EMPLOYEE PENSIONS (SEP). ...
Requiring assets and liabilities of an insurance company to go up or down together on a proportional basis. The duration of the asset and liability should be approximately the same. For ...
Wording in life insurance policies to determine the order of deaths when the insured and the beneficiary die in the same accident. For example, if the insured is deemed to have died first, ...
The term pro rata comes from Latin and translates to in proportion, proportionally, the proportion of, proportionately determined, or according to a specific rate. It is often used in legal ...
Coverage in which the investment features, mortality element, and cost factors of a life insurance policy are separated, permitting each part to be independently analyzed. The savings ...
Have a question or comment?
We're here to help.