Section 401 (h) Pension Plan Trust
Definition of "Section 401 (h) pension plan trust"
Trust established under the auspices of the Internal Revenue Code that permits the maintenance of a separate account within the employer's defined benefit pension plan from which to pay the employee's life insurance and medical expense costs. Contributions to this account are tax deductible, and the investment's earnings accumulate on a tax deferred basis.
Popular Insurance Terms
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Insurance coverage purchased on the same item from two or more insurance companies. ...
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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 ...
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