Deferred Profit-sharing
Portion of company profits allocated by an employer, in good years, to an employee's trust. Contributions on behalf of each employee are expressed as a percentage of salary with 5% being common practice. If the profit sharing plan is a qualified plan according to the IRS, employer contributions are tax deductible as a business expense. These contributions are not currently taxable to the employee; benefits are taxed at the time of distribution.
Popular Insurance Terms
System of charges to an insured that fluctuates according to the loss experience of that insured. This is a form of experience rating. ...
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Written notice to an insured showing date of termination of an insurance policy. ...
Person insured under a blue CROSS hospitalization or blue shield medical health insurance plan. ...
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