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
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Measure of policyholder interest in a variable annuity policy prior to the annuity date. This measure is similar to a unit in a mutual fund. ...
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Payment of premiums and benefits as they come due. In pension plans, known as the "pay as you go basis." The plan depends on new employees coming into the work force so that their ...
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