Voluntary Plan Termination
Definition of "Voluntary plan termination"
Ending a pension plan at the election of an employer or sponsor. The employer has the unilateral right to change or terminate a pension plan at any time. However, the termination must meet requirements set out by the employee retirement income security act of 1974 (erisa). Assets must be distributed to participants according to federal guidelines.
Popular Insurance Terms
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Process in which the policy-holder surrenders the policy when: cash proceeds can be invested elsewhere at a higher return than that being earned on the cash value within the policy; ...
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Payments from an employee's employee benefit insurance plan that can be rolled over to an individual retirement account (IRA) or to another plan maintained by the employer that accepts ...
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Life or health insurance policy written on an applicant who has passed a medical examination and signed the application but has not paid the premium due. ...
Account that is similar in form to the health plan flexible spending account (FSA) with contributions to this account used to reimburse employees who are parents for expenses at a ...
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