Voluntary Deductible Employee Contribution Plan
Definition of "Voluntary deductible employee contribution plan"
Pension plan that allows an employee to contribute by electing to have money deducted from each paycheck. Some qualified plans such as 401 (k) allow employees to contribute pre-tax dollars, while others require employees to put in after-tax dollars.
Popular Insurance Terms
Judgment decision by the insurance agent concerning whether or not to submit an application. The decision is based on the agent's familiarity with the insurance company's underwriting ...
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