Target Benefit Pl
Definition of "Target benefit pl"
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, using acceptable mortality and interest rate assumptions. Funds are invested wholly or partially in such vehicles as variable annuities or mutual funds, and benefits may exceed or fall below target levels depending on investment performance. Target plans are subject to the same annual contribution limits for individual participants as a money purchase plan.
Popular Insurance Terms
cost of annuity based on expectation of life of the annuitant and the expense and profit loadings of the insurance company. ...
Coverage on an all risks basis for fur garments belonging to customers of a furrier. ...
a contract in life insurance that includes elements of whole life and term insurance. in pensions, a combined life insurance policy and a side (auxiliary) fund to enhance the amount of a ...
Payments in excess of the value of the loss a prohibited practice. When an insured has more than one policy covering a risk, the full value cannot be collected from each policy if a loss ...
Option to an insurance company to replace, reconstruct (repair), or reproduce (rebuild) damaged or destroyed property covered by property insurance rather than indemnify an insured in cash. ...
Premium rate charged by the insurance company (insurer), which is below the standard rate. ...
Trust that cannot be revoked by the creator. ...
Incidents covered under workers compensation benefit. ...
Coverage during the transfer of securities and monies, precious metals, and other specified types of valuables by armored guard services. Policies are specifically designed to fit an ...
Have a question or comment?
We're here to help.