Resumption Of Operations Clause
Definition of "Resumption of operations clause"
Plan under the employee retirement income security act of 1974 (ERISA) for employees who are less than 50% vested. An employee must be permitted to buy back retirement benefits lost because of the withdrawal of his or her contributions. The employee pays back to the pension plan the withdrawal contributions, plus 5% interest compounded annually.
Popular Insurance Terms
Standards set by the various state regulatory authorities that determine how financial statements must be prepared for regulators. The states are responsible for making certain that ...
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Payments in a defined benefit plan. Benefits are allocated to the pension plan participants as premiums are received by the insurance company. Since the benefits purchased are paid up, the ...
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Court that presides over estate distribution settlements, documentation of wills, and the appointment of legal guardians. ...
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Membership organization of individuals especially trained in the application of property and casualty insurance to personal and business situations. Membership is achieved by passing a ...
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