Welfare And Pension Plans Disclosure Act
Federal law that requires administrators of pension plans with more than 25 participants to file a plan description with the U.S. Department of Labor. A plan description includes schedules of benefits, type of administration, and copies of the plan. If the plan has more than 100 participants, the administrator must also file an annual financial report. This information must be made available to plan participants upon request, and the person responsible for handling the funds must be bonded.
Popular Insurance Terms
Plan providing benefits that are adjusted according to variations in a specified index of prices. For example, some pension plans adjust retirement benefits yearly according to the rise in ...
Clause in an insurance policy that provides for the payment of a monetary sum to the individual (s) who incurred the loss. ...
Liability limit on a fidelity bond or surety bond. A fixed-penalty bond is one with a fixed liability limit that the surety company will pay in the event of nonperformance. ...
Value of an insurance company or other company that consists of capital and surplus and an estimated value for business on the company's books. ...
Relationship of policyowner dividends to earned premiums. ...
Protection for all classes of business including automobile, fire, general liability, homeowners, multiple peril, burglary, and glass, by combining the contracts for these classes of ...
Waiver of an impairment of an applicant for health insurance by attaching an endorsement to the health insurance policy stating that the policy will pay no benefits in connection with the ...
Amount of reinsurance accepted by a second reinsurer which is in excess of the original insurer's retention limit and the first reinsurer's first surplus treaty's limit. ...
Sum provided by a disability income insurance that pays a multiple of the monthly indemnity to cover the costs associated with a retraining course attended by the insured wage earner when ...
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