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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Total earned premiums minus total expenses and losses paid of the insurance company. ...
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