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
Computer system established by London trade associations for processing insurance policies. The work of LIMNET involves the notification and settlement of insurance policy claims. ...
Statistical function that displays the probability of determining a stated number of successes in a series of trials in which the probability of success is the same in each trial. In ...
Life insurance policy clause. If at the end of the grace period the premium due has not been paid, a policy loan will automatically be made from the policy's cash value to pay the premium. ...
Component of necessary coverage determined by the "needs approach" to life insurance for a family. It is intended to cover last-minute expenses as well as those that surface after the death ...
Plan whereby adjustments are made in the premium, as the premium increases to reflect the non proportionate increases in expenses. Generally, the expenses of acquisition costs, ...
Coverage under which initial premiums are less than normal for the first few years, then gradually increase for the next several years until they become level for the duration of the policy. ...
Statement in which a life insurance applicant is charged a higher-than-standard premium to reflect a unique impairment, occupation, or hobby, such as a history of heart disease or a circus ...
Type of coverage of property owned by one person at several locations, including merchandise, materials, fixtures, furniture, specified machinery, betterments, and improvements made by ...
Actuarial equivalent method of calculating the premium rate through the development of the following equation: probability that the event insured against occurs x face amount of policy x ...
Have a question or comment?
We're here to help.