Partial Vesting
A procedure effective January 1, 1989, under the tax reform act of 1986. The entitlement of an employee to a specified portion of the pension benefits accrues in the following manner: vesting of 20% after the completion of three years of service with an employer, increasing by 20% for each year of service thereafter, until 100% vesting is achieved at the end of seven years of service.
Popular Insurance Terms
Agency that sells insurance policies from both a stock insurance company and a mutual insurance company. ...
Ruling that is the most significant source for the valuation of closely held corporation capital stock critical to the close corporation plan. This ruling defines the fair market value as ...
Donation of amount "A," made by donor X to a charity. The charity agrees to pay donor X an amount ("B") for the rest of donor X's life. Since the donation is used to fund an annuity, only a ...
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Written form which has precisely the same terms as the other property insurance policies covering a particular property. ...
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Conditions found in employee benefit plans such as pensions, under which minimum requirements, such as 20 years of service, must be met by an employee to qualify for benefits. ...
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Specific values of securities computed annually by the national association of insurance commissioners (NAIC) as guidelines and procedures for insurance companies in listing of their ...
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