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
Paid loss experience for the period of time from January 1 to December 31 of a specified year (not necessarily the current year). ...
Insurance sold by privately formed insurance companies with the objective of making a profit. ...
Qualified retirement plan under the internal revenue code Section 457 for employees of the states and political subdivisions within the states. ...
Professional designation earned after the successful completion of three national examinations given by the insurance institute of America (IIA). Covers such areas of expertise as ...
Probability of one's living to a specific age according to a particular mortality table. Life expectancy is the beginning point in calculating the pure cost of life insurance and annuities ...
Interest rate credited on three-month United States Treasury bills. ...
Unexpected, unforeseen event not under the control of the insured that results in bodily injury. ...
Model state law of the NAIC that requires that applicant be furnished a Buyer's Guide to Annuities and a contract summary. The Buyer's Guide must contain information concerning: the various ...
Federal legislation passed in 1988 (repealed November 23, 1989) that significantly increased the benefit amounts provided under medicare, both Part A and Part B, in the following manner: ...
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