Unemployment Compensation Amendment Of 1992
Definition of "Unemployment compensation amendment of 1992"
Amendment to the law that requires companies that manage retirement plans to permit terminating participants to directly transfer any plan distribution to the individual retirement account (IRA) or qualified pension plan of the participant's choice. If the participant receives the distribution directly, the plan administrator is required to remit a 20% withholding penalty directly to the Internal Revenue Service.
Popular Insurance Terms
Date when an insurance company issues a policy. This date may be different from the date the insurance becomes effective. ...
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Contract combining whole life and decreasing term insurance. A monthly income is paid to a beneficiary if an insured dies during a specific period. At the end of that period, the full face ...
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