Secure Money Annuity Or Retirement Trust (smart)
Definition of "Secure money annuity or retirement trust (smart)"
Proposed new small business pension plan advocated in President Clinton's administration's fiscal year 1999 budget. This plan would be made available to small businesses with 100 or fewer employees that do not currently provide employees with a defined benefit plan or a defined contribution plan (money purchase plan). In order to qualify for this new pension plan, neither a defined benefit plan nor a defined contribution plan could have been offered by the business to its employees during the previous five years.
Popular Insurance Terms
Distribution of a deceased beneficiary's share of an estate among that beneficiary's children. Contrast with per capita. ...
Coverage that goes into effect when an employer who has self insurance has its total group health insurance claims attain a certain level, which is usually 125% of its annual projected ...
Individuals who inherit assets as the result of being named in a will. ...
Option clause in a disability buy-out insurance policy that permits the owner of the policy to increase the limits of coverage for the expenses associated with the buy-out process. Usually, ...
Phrase describing a form of joint tenancy ownership where property passes to the survivors when one party dies. ...
Clause in an insurance policy stipulating that the benefits under the policy will accrue to the right of the insured. For example, if the insured leaves a violin at a repair shop and that ...
Interest earned on dividends from a participating life insurance policy left on deposit with the insurance company and subject to taxation. ...
Type of judicial bond under which a plaintiff is held liable for damages in the event of a false injunction. The objective of this bond is to protect the party who has been wrongly accused ...
Compensation payable to the owner of a ship detained for reasons beyond his or her control who incurs a loss of earnings because of the delay. Detainment can be caused by a delay in the ...
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