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
Same as term Automobile Assigned Risk Insurance Plan: coverage in which individuals who cannot obtain conventional automobile liability insurance, usually because of adverse driving ...
Section of an insurance company that evaluates claims for their subsequent payment. ...
Common exclusion in life and accidental death insurance (double indemnity) policies, indicating that coverage does not apply unless an insured is a passenger on a regularly scheduled ...
Method of reducing an employee pension according to IRS procedures: Offset method restricted to a DEFINED BENEFIT PLAN under which a mandatory percentage of the monthly Social Security ...
Provision of a reinsurance contract that states that the reinsurance company remains liable for its predetermined share of a claim submitted by an insured, even though the primary insurance ...
Employee benefit program that emphasizes the pursuit of a lifestyle that minimizes the occurrence of sickness through an organized program of preventive medicine. Such a program includes ...
Type of pension in which benefits may vary depending on the investment performance of the pension plan assets. Contributions are made to fund a target benefit, such as 35% of compensation, ...
Type of livestock insurance that covers for cattle and sheep on the range from October 1 to May 1 in the Western states. Perils insured against are the weather, including freezing; most ...
12-month period from the date of issue of a policy as stated in its declarations section. ...
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