Small Business Protection Act
Act passed in 1996 that includes: an increase in the amount a nonworking spouse can contribute to an INDIVIDUAL RETIREMENT ACCOUNT (IRA) increased from $250 to $2000; creation of the SAVINGS INCENTIVE MATCH PLAN FOR EMPLOYEES (SIMPLE PLANS); the stipulation that, for the person covered under a QUALIFIED PENSION PLAN who is age 10'A and has not retired, that person is not requiredto begin minimum distributions from that plan until April 1 of the year following the year in which he or she retires.
Popular Insurance Terms
Periodic payments to an injured person or survivor for a determinable number of years or for life typically in settlement of a claim under a liability policy. Terms may include immediate ...
Coverage for additional buildings on the same property as the principal insured building. Most property insurance contracts such as the homeowners insurance policy cover appurtenant ...
Same as term Employee Benefit Insurance Plan: provision by an employer for the economic and social welfare of employees. Generally include: pension plans for retirement; group life ...
Insurance coverages for businesses, commercial institutions, and professional organizations, as contrasted with personal insurance. ...
Part of the Balanced Budget Act of 1997 that permits medicare recipients to select coverage among various private health care plans to include HMOS, PPOS, POINT-of-SERVICE (POS), MEDICAL ...
Contract by which one party agrees to make good the default or debt of another. Actually, three parties are involved: the principal, who has primary responsibility to perform the obligation ...
Employees participating in and covered under an employee benefit insurance plan. ...
Trust in which the trustee distributes capital and income to the beneficiaries of the trust according to their economic needs. ...
Early payout of anticipated death benefits from a rider attached to an existing policy or from a separate policy. The purpose is to allow the terminally ill insured an additional source of ...
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