Definition of "Split funded plan"

Kimberly  Bradshaw real estate agent
Kimberly Bradshaw, Real Estate Agent Coldwell Banker Smith Homes, Realtors

Retirement arrangement in which contributions are divided between allocated (insured) and unallocated funding instruments (an uninsured plan). It seeks to combine the advantages of guarantees-of-income of the allocated funding instrument with the investment flexibility (and possible higher yields) of an unallocated funding instrument. For example, 60% of contributions could be placed in a retirement income policy (or other permanent life insurance policy) and 40% in a deposit administration plan (or other fund held and invested by a trustee).

 

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