Keogh Plan (hr-10)
Act first passed in 1962 that permits the self-employed individual to establish his or her own retirement plan. This individual can make nondeductible voluntary contributions and tax-deductible contributions subject to a maximum limit of 25% of earned income up to $30,000 for a defined contribution plan after the reduction for the contribution to the Keogh Plan. This is an equivalent rate of 20% of earned income prior to the contribution to the Keogh Plan.
Popular Insurance Terms
Undiscounted loss reserves that must be maintained by property and casualty insurance companies in an adequate amount to provide for the payment of the settlement value of the outstanding ...
Same as term Captive Agent: representative of a single insurer or fleet of insurers who is obliged to submit business only to that company, or at the very minimum, give that company first ...
System whereby benefits in an employee benefit insurance plan vary according to the employee's earnings. ...
Person insured under a blue CROSS hospitalization or blue shield medical health insurance plan. ...
Mandatory age of retirement. ...
Endorsement to a property insurance policy providing all risks coverage for insured property. Excluded properties include residences, farms, and manufacturing properties. This endorsement ...
Statement by an auditor or certified public accountant indicating if a company's financial statements fairly present its true financial condition. A statement of opinion may be unqualified, ...
Three types of damages can be awarded to a plaintiff: Special Damages reimbursement for out-of-pocket expenses, including medical bills, legal charges, cost of repairing damaged or ...
Insurance company that puts together a consortium of insurance and reinsurance companies to provide an adequate financial base with sufficient underwriting capacity to insure large risks. ...
Have a question or comment?
We're here to help.