Section 401 (k) Plan Switchbacks (ksops)
Device that allows plan participants in employee stock ownership plan (ESOP) trust to reinvest the dividends into their section 401 (k) plan. Under the switchback approach, plan participants are permitted to select whether they wish to reinvest their dividends paid on the company's stock into the KSOP on a tax-deferred basis or take the dividends in cash and be subject to ordinary income tax. If the plan participant elects to reinvest the dividends into the KSOP, the participant's contribution to the Section 401 (k) is reduced by the amount of the dividend. The KSOP concept allows dividends to be retained in the retirement plan and permits the plan participant to increase the amount of his or her contribution into the plan by the amount of dividends reinvested.
Popular Insurance Terms
Transit over land. ...
Insurance policy that differs from the standard form. ...
Exposures where action has been taken to reduce the frequency and severity of loss, such as adding sprinkler systems in public buildings. These actions may result in a significant reduction ...
Any of a number of types of surety bonds that the law requires of government contractors, licensed businesses, litigants, fiduciaries, government officials, and others whose performance of ...
INSURANCE tax that exhibits direct impact on the book income preference. Beginning with the year 1990, the book income preference became equal to 75% of the excess of current adjusted ...
Coverage for the insured in the event that the insured's negligent acts and/or omissions result in losses in connection with the use, ownership, or maintenance of aircraft. Liability ...
Payment of insurance proceeds for a claim resulting from a loss to insured mortgaged property. ...
Insurance with two types of policies available: depositors forgery insurance; forgery and alteration. ...
Law by which many states attempt to regulate insurers who are unlicensed in those states. With a few notable exceptions, such as re insurers, insurance companies must be licensed in the ...
Have a question or comment?
We're here to help.