Rollover Individual Retirement Account
Individual retirement account (IRA) established to receive distribution of assets from a qualified pension or retirement plan. For example, if employees resign from their jobs and receive a lump sum distribution of $75,000, they may roll it over into an IRA without paying taxes. Rollover IRAs are governed by the same tax rules as other IRAs. They provide a way to maintain the tax-deferred status of distributions from pensions or other qualified plans until an age specified by law, when withdrawals must begin.
Popular Insurance Terms
Plan in which funds are currently allocated to purchase retirement benefits. An employee is thus assured of receiving retirement payments, even if the employer is no longer in business at ...
Individual who has temporary rightful possession of another's property. The bailee often furnishes a receipt in exchange for the bailor's property. For example, a dry cleaner has temporary ...
Person who engages an agent or broker for advice and possible purchase of insurance. ...
Rule concerning stock sold and then repurchased or a similar security repurchased (warrants or options) within 30 full days before or after the day of the sale. Losses established from such ...
Coverage for negligent acts or omissions of an operator of a motel or hotel resulting in bodily injury to guests and damage or destruction of a guest's property. ...
Coverage in which one premium payment is made and the policy is fully paid up with no further premiums required. ...
Insurer in a group of companies that act as subsidiaries. ...
Reinsurance marketplace modeled after Lloyd's of London. Like Lloyd's, the New York Insurance Exchange is a market for hard-to-place risks and for the placement of excess or surplus lines. ...
Net profit of a business, less dividends. Reinvestment of retained earnings enables an insurance company to write more business from a stronger capital base. Contributions to retained ...
Have a question or comment?
We're here to help.