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
Same as term Coinsurance: ...
Model act written and published by the national association of insurance commissioners (naic) whose purpose it is to regulate brokers who control insurance companies. The act permits the ...
Rules stating that, under the tax EQUITY AND RESPONSIBILITY ACTS OF 1982 AND 1983 (TEFRA), a plan can not discriminate in favor of key employees regarding contributions and benefits if ...
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, ...
Same as term Cancellation Provision Clause: provision permitting an insured or an insurance company to cancel a property and casualty or a health insurance policy (circumstances vary; see ...
Means of providing insurance protection for the property of a business that is not at a fixed location. ...
System whereby a life insurance company (the reinsured) reduces its possible maximum loss on either an individual life insurance policy (facultative reinsurance) or a large number of life ...
Trust whereby asset management is provided until a child reaches the age of majority. Upon reaching majority, the child has full use and control over the assets. The grantor of the trust ...
Coverage for the federal government in the event of loss due to dishonest acts of federal government employees. ...
Have a question or comment?
We're here to help.