Employers Contingent Net Worth Liability Determination
Definition of "Employers contingent net worth liability determination"
Requirement upon termination of a pension plan; an employer must reimburse the pension benefit guaranty corporation (pbgc) for any loss that the PBGC incurs as the result of paying employee benefits that were the responsibility of the employer. The law requires reimbursement of up to 30% of the plan's net worth without regard to any contingent liability. This net worth is increased by escrowing or transferring any assets by the employer in contemplation of the plan's termination.
Popular Insurance Terms
Same as term Commutation Right: right of a beneficiary of a life insurance policy to exchange the future installments due that beneficiary for a lump sum distribution. ...
Grouping of applicants for life insurance according to expected mortality, so as to produce an underwriting classification in which the spread between health of the worst and best applicant ...
Total estimated cost incurred by a person or persons, a family, or a business resulting from the death or disability of a wage earner (key employee), damage or destruction of property, ...
owner of property has an insurable interest because of the expectation of monetary loss if that property is damaged or destroyed. creditor of an insured has an insurable interest in ...
Agents' records showing when clients' policies expire. ...
Payments made on a monthly basis by users of the medical services of health maintenance organizations (HMOs). After this payment is calculated for a future period of time, usually one year, ...
Degree of underwriting profit that an insurance company's book of business shows. ...
Coverage for routine personal legal expenses, including probate, criminal defense, and divorce. ...
Retrospective rating system with basic, minimum, and maximum premium rates listed in manual tables. Calculation of an individual premium involves adjusting the basic premium for appropriate ...
Have a question or comment?
We're here to help.