Self-administered Plan
Definition of "Self-administered plan"
Qualified pension or other employee benefit where responsibility rests with an employer rather than an insurer. A trust fund plan, where assets are deposited with and invested by a trustee, is the most common self-administered plan. A trust agreement governs the plan administration and retirees are paid benefits from the trust or the trustee buys annuities for them. The self-administered, or trust fund plan, contrasts with the insured (insurance company) pension plan.
Popular Insurance Terms
Same as term Excess of Loss reinsurance: method whereby an insurer pays the amount of each claim for each risk up to a limit determined in advance and the reinsurer pays the amount of the ...
List of the values of specific medical procedures in comparison with other medical procedures. ...
Tax assessed by the states as a payroll tax on employers to pay for unemployment compensation ...
Coverage in the event that, while practicing the profession of druggist, an act or omission is committed resulting in bodily injury, personal injury, and/or property damage to a customer. ...
Report showing sources of income and expenses of an individual. ...
Coverage for fire and explosion, against fire and any damage caused by explosion whether or not fire ensues, and whether or not an explosion occurs on- or off-board; sinking from floating ...
Payments due to an insurance company but not yet paid. ...
Payment under a state-sponsored program for victims of crimes. ...
Provision commonly found in fire insurance contracts. If the insured knows that a hazard is increased, most property contracts permit the insurance company to suspend or terminate coverage. ...
Have a question or comment?
We're here to help.