Technical And Miscellaneous Revenue Act Of 1988 (TAMRA): Employee Benefits
Definition of "Technical and miscellaneous revenue act of 1988 (TAMRA): employee benefits"
Determination that group plans offering legal services are limited to an annual tax-free benefit of $70 per employee; group plans may offer employer-provided educational assistance plans on a tax-exclusion basis to employees, with the exception of graduate school expenses; if an employer elects to treat highly compensated employees as those earning in excess of $50,000, then the employer must have significant business operations in at least two geographically separate locations; and each plan must be tested for discrimination on a date to be chosen by the employer in 1990, and the same date must be used each year in the future unless a date change is approved in advance by the Secretary of the Treasury.
Popular Insurance Terms
Liability insurance coverage, primarily for shipyards for ocean marine risks, provided in much the same manner as umbrella liability insurance for nonmarine risks. Coverages may be provided ...
Type of excess of loss reinsurance in which the insurance company (cedent) is reinsured in the event there is a casualty loss resulting in at least two insureds generating losses from the ...
Condition in which an applicant has met an insurance company's standards. Requirements include a loss that is definable; fortuitous; one of a large number of homogeneous exposures; and ...
Premium payment made by the policy owner under a universal life insurance policy, usually on an automatic monthly preauthorized bank draft basis. The amount of the payment is established ...
Assets that are not readily convertible into cash 'without a significant loss of principle, such as an automobile, a house, television set, a radio, etc. ...
Written form which has precisely the same terms as the other property insurance policies covering a particular property. ...
Limited special purposes policy that provides liability and physical damage insurance for owners and operators of trucks while engaged in business. This insurance is often purchased by a ...
High severity loss that does not lend itself to accurate prediction and thus should be transferred by the individual or business to an insurance company. ...
Coverage in health insurance by two or more policies for the same insured loss. In such a circumstance, each policy pays its proportionate share of the loss, or one policy becomes primary ...
Have a question or comment?
We're here to help.