Offset Approach
Method of integrating an employee's Social Security or other retirement benefits with a qualified retirement plan. Some employers offset (reduce) retirement or disability income benefits from an employee's Social Security income, reasoning that since Social Security taxes are a business expense for them, they should reduce or offset employee pension benefits by a percentage of the Social Security money. An employer with a 100% offset would subtract the entire Social Security payment from the earned pension and pay only the difference as the employee pension. A 50% offset means the employer subtracts half of the Social Security benefit from the pension benefit and pays the difference.
Popular Insurance Terms
Same as term Direct Response Marketing: method of selling insurance directly to insureds through a companies own employees, through the mail, or at airport booths. The company uses this ...
Group arrangement in which a network of attorneys provides legal services to the participants in the plan with the attorney fees being reimbursed by the provider. The attorneys who are ...
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Required minimum amounts of coverage that an insurance company will underwrite. For example, for auto liability coverage the minimum that many companies will write is $25,000. Most ...
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