Top Hat Plan
Non qualified deferred compensation plan for highly compensated employees or select group of personnel. The reporting and disclosure requirements of the employee retirement INCOME SECURITY ACT OF 1974 (ERISA) and the INTERNAL REVENUE CODE require only the following information: name of the employer, number of employees in the plan, and a statement from the employer that the plan is maintained and funded strictly to provide non qualified deferred compensation to select number of personnel.
Popular Insurance Terms
Investment risk associated with the psychology of the market in that emotions affect the price of a company's stock that, in most instances, has nothing to do with the current or potential ...
Health insurance coverage for eye examinations, and eyeglass or contact lens prescriptions. ...
Average earned monthly income of the insured wage earner after regular earned income has been interrupted or terminated because of illness, sickness, or accident. This income amount is ...
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Mathematical combination of one-year term insurance and one-year deferred permanent insurance such that no reserve has to be set up for the first year the policy is in force and allowance ...
Legal power of the commissioner of Internal Revenue to approve any classification of employees that does not discriminate in favor of a prohibited group. Such approval is necessary before a ...
Means of funding permitted under the employee retirement income security act of 1974 (ERISA). The administrator of a pension plan can comply with required minimum funding standards by ...
Contract providing a monthly income benefit to members of a group of employees. A group annuity has the same characteristics as an individual annuity, except that it is underwritten on a ...
Classification of occupations according to the degree of risk inherent in that occupation. ...
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