Section 404 (c) Of The Employee Retirement Income Security Act Of 1974
Definition of "Section 404 (c) of the employee retirement income security act of 1974"
Section of the act stating that regulation requires employers to offer plan participants at least three diversified investment choices. Each choice must have materially different risk and return characteristics. Participants must be given the opportunity to switch from one fund to another on at least a quarterly basis. Also, employers must provide sufficient information for participants to make informed investment decisions.
Popular Insurance Terms
Portion of reinsurance premium received by the reinsurer that relates to the unexpired part of the reinsured policy. ...
Income (premiums + investment earnings) minus disbursements (dividends + death claims + policies surrendered for benefits + general expenses). ...
Present value of future benefits. This type of reserve would be applicable for single premium life insurance, paid-up insurance, single premium annuity, and a paid-up annuity. ...
Legislation passed in 1988 by the U.S. Congress to facilitate movement of checks through the collection system. As the result of this Act, the Federal Reserve has established rules for the ...
Property damage coverage for a vehicle under the collision insurance and comprehensive insurance sections of the business automobile policy (BAP) and the personal AUTOMOBILE POLICY (PAP). ...
Assumption that an employer is liable for negligent acts or omissions of employees that result in bodily injury and/or property damage to third parties if those acts are in the course of ...
Model state statute that governs terms for surrender of individual deferred annuities and cash value life insurance. This model, adopted by most states in the late 1970s and early 1980s, ...
Amendment that modifies the federal flood insurance program by providing relocation and acquisition coverage for structures in imminent danger from an encroaching shoreline. This amendment ...
Federal agency that collects and analyzes numerous U.S. demographics used by government and industry. Insurance companies use the demographics to predict areas of high demand for their ...
Have a question or comment?
We're here to help.