Learn about Group Permanent Insurance, a plan that offers both retirement benefits and life insurance for groups. Understand its features, including equal premium usage.
Explore the concept of amortization in pensions, a systematic process of paying a debt with interest over a given number of years. Learn the importance and mechanics of amortization in pension plans.
Learn about Separate Accounts in the context of Pensions, Annuity, and Life Insurance. Understand how companies hold assets for participants in a variable contract, typically through a unit investment trust registered with the SEC.
Learn about the minimum compensation level, the essential pay threshold that employees must attain to participate in pension or profit-sharing plans.
Learn about an Excess Plan in pensions, a retirement funding strategy that includes the impact of social security benefits. Understand its importance and how it can affect your retirement planning.
Learn about prepaid legal service plans within pension benefits, which provide employees with access to legal services. Understand how these plans work and their benefits.
Discover how an Employee Stock Ownership Plan (ESOP) offers employees part ownership of the company they work for, including trust-held stock certificates.
Discover the essentials of Group Retirement Income Insurance, a type of policy that ensures a steady retirement income with an equal premium throughout its duration.
Learn about the single premium funding method used in pensions, which involves saving money annually to fund future benefit payments. Understand how this funding approach works, its benefits, and its implementation.
Explore the benefits and structure of ten-year funding options in pensions, tailored primarily for older individuals looking to secure their retirement with a decade-long commitment.
Learn about turnover in pensions, which refers to the rate at which new employees are hired to replace those who have left a company. Understand its impact on pension plans and workforce stability.
Learn about formal plans in pensions, their legal enforceability, and the rights extended to eligible employees. A must-read for anyone looking to understand retirement plans.
Explore how Money Purchase Plans work as retirement or pension plans, ensuring a secure future by purchasing annuities periodically throughout employment.
Learn about target benefit plans, a hybrid between defined benefit and defined contribution plans that require employer funding for a target benefit.
An in-depth look at informal plans in the pension domain, covering retirement plans with unspecified benefit amounts and no obligatory funding sources.
Understand the Thrift Plan in pensions, a unique retirement plan that incorporates an added employee savings feature. Learn how it functions and benefits employees.
Learn about Trust Fund Plans for Pensions where a trustee receives contributions and issues retirement benefits. Explore the benefits and regulations associated with these plans.
Discover ERISA liability, a mandatory obligation for employees in financial capacities to ensure the proper management of pensions and benefits.
Learn about the Percentage Test in pensions. It establishes if a qualified plan benefits 70% of employees on the lower end of the pay scale. Understand its importance in ensuring fair pension distribution.
Understand the concept of an amortization schedule for pensions, a table that provides a detailed timeline for paying off a debt over a specified number of years.
Understand deferred compensation plans and how the deferment of an executive's salary can supplement retirement income. Learn about the agreement requirements and employee loyalty benefits.
Understand the details of an Individual Retirement Account (IRA). Learn about eligibility, contribution limits, and the benefits of saving for retirement with an IRA.
Understand the Money Purchase Benefit Formula for pensions, featuring fixed contributions from both employees and employers based on salary.
Discover the role of open-end investment companies in pensions. Learn how mutual funds are managed by investment advisers to benefit shareholders.
Learn about rollover contributions in pensions, a tax-free strategy to move funds from one qualified plan to another. Discover how to maintain tax advantages by rolling over your pension money.
Learn about T Tables (Pensions) and their significance in calculating retirement benefit funding by incorporating interest and mortality rates.
Learn about Third Party Administration (TPA) responsible for accounting, reporting for qualified plans, and acting as the liaison between employers and insurers.
Learn about Modified Adjusted Gross Income (Pensions) which combines an employee's adjusted gross income with tax-exempt interest for a tax year, playing a crucial role in pension planning.
Explore the Benefit Allocation Method in pension funding, a technique where a single premium payment annually secures individual benefits for each year of service, commonly through annuities.
Learn about unallocated funds in pensions, where plan funds are pooled together for the benefit of all participants. Explore its significance and how it impacts pension plans.
Explore the concept of unfunded plans in pensions, which utilize a pay-as-you-go funding method, and understand their implications.
Explore the concept of vested liability in pensions, explaining the non-forfeitable value of a person’s retirement benefits at present.
Discover what an unqualified plan is within the realm of pensions, including its definition and key tax implications that make it distinct from qualified plans.
Learn about advance funding in pensions, a crucial method where money is designated to fund future retirement benefits. Understand its importance in securing financial stability for retirees.
Learn about the contribution formula in pension plans, which specifies the amount an employer will pay into profit sharing or money purchase plans. Understand its significance in retirement planning.
Learn how a conversion fund supplements life insurance or limited payment life policies to increase cash dispersed at retirement for a steady monthly income.
Explore the Death Benefit Only Plan, a life insurance/pension scheme where a portion of the insured's salary is collected for payout in the event of their death.
Learn about Elective Deferral Plans for pensions, where policyholders can defer present payments into a retirement plan, offering tax advantages and a streamlined path to retirement savings.
Explore the essential aspects of Employee Welfare Benefit Plans, including their role in providing medical care, benefits upon illness, death, or unemployment. Ideal for employers seeking to understand their obligations.
Learn about group renewable term insurance, a life insurance policy that covers a specific period, typically a year, and is renewable at the end. Essential for understanding pension plans.
Learn about individual account plans in pensions. Understand how these defined contribution or profit-sharing plans generate separate accounts and the factors affecting the benefits for each participant.
Learn about insured plans for pensions, where an insurance company guarantees your retirement benefits. Understand the workings and advantages of such plans.
Explore the concept of Normal Retirement in pensions, which refers to retirement taken at the time deemed standard by the pension plan. Learn its significance and implications.
Learn about what it means to be a party in interest in the context of pensions, including the roles of medical professionals and employees responsible for establishing pension plans.
Discover what a Rabbi Trust is in the context of pensions, its tax implications for employees, and why it is named after the first trust set up for a rabbi.
Learn what a Regular Stock Option Plan entails, its benefits for company executives, and the tax implications when stock is purchased.
Learn about sponsor plans in pensions, where employers or employee groups set up or maintain benefit plans for employee retirement and other advantages.
Learn about defined contribution pension plans where contributions are predetermined, with the benefit amount totaling the contributions. Discover how these plans impact retirement savings.
Learn about Employees Trust (Pensions), a financial vehicle for funding pensions and profit-sharing plans, benefiting employers and employees.
Explore the fundamentals of employment benefit plans that include pension and welfare plans designed to provide financial security and health benefits to employees.
Learn about the significance of the Plan Year in pensions, a 12-month period for keeping plan records, which can follow a calendar year or fiscal year.
Learn about the 401k plan—a popular retirement savings option featuring employee contributions from pre-tax salary and potential employer matches. Find out how it helps secure your financial future.
Learn about the Standard Annuity Table, a crucial mortality table used for annuities, formally known as The 1937 Standard Annuity Table, and its significance in pensions.
Explore the structure and benefits of Unit Investment Trusts (UITs) in pension investments. Learn how UITs offer a stable asset-holding without active management duties.
Learn about the Unfunded Supplemental Actuarial Value in pensions, which represents the difference between Supplemental Actuarial Value and Actuarial Asset Value.
Learn about the borrowing authority of the Pension Benefit Guaranty Corporation (PBGC) and how it issues Treasury notes to secure necessary funds.
Understanding Forfeitures in Pensions and General Insurance. Learn how relinquishing the right to future benefits impacts employer contributions.
Explore the benefits and working mechanism of Group Ordinary Life Insurance, featuring equal premium issuance to groups. Ideal for understanding insurance policies related to pensions.
Discover the benefits and workings of an Individual Contract Pension Trust, where insurance and annuity contracts are held by a trust for employees. Ideal for understanding pension plans tailored to policyholders.
Learn about the master contract in pensions, which is the agreement provided to employers for their employees under a group contract. Explore its significance and implications.
Learn about multiemployer plans, where more than one employer contributes to a pension. Discover how these plans are affected by collective bargaining agreements.
Learn about the Normal Retirement Benefit in pensions, which represents the greater of an employee's early retirement benefit or the benefit at normal retirement, excluding medical or disability benefits.
Discover how a Profit Sharing Plan allows employees to share in company profits. Learn how these plans work, their potential tax benefits, and distribution options.
Discover the essentials of a Self Administered Trustee Plan, a retirement plan managed by a trustee who handles contributions, investments, and benefit payments.
A comprehensive guide that explains the necessity and importance of the Summary Annual Report, a mandatory document sent to each pension plan participant annually.
Learn about terminal funding in pensions, where retirement financing is provided by a sum of money set aside by the employer at retirement.
Deferred compensation in pensions allows employees to defer current payments until death, disability, or retirement, as agreed upon with the employer in a written statement. Learn the benefits and regulations.
Dive into what an Educational Assistance Plan is in the context of pensions—employer-offered benefits where employees’ educational costs are reimbursed.
Learn about the entry age in pensions, typically set at 65, which determines the eligibility of an employee to participate in a pension plan.
Learn about multiple funding in pension plans, utilizing a separate fund and insurance cash values to secure retirement benefits.
Learn about Widow/Widowers Benefit under pension plans, how social security provides support to surviving spouses, and eligibility criteria for these benefits.
Learn about Cross Purchase Agreement in the context of pensions. Understand how this contract facilitates the buyout of a deceased or permanently disabled partner's interest to maintain business stability.
Learn about the concept of past service benefit in pensions, which provides credit for the time an employee worked before a retirement plan was instituted.
Learn about the term 'Member' used in health insurance and pensions, describing individuals covered under a health plan or qualified employees in a pension plan.
Learn about the ratio test in pensions, a test ensuring equitable coverage where a certain number of lower-paid employees benefit, equaling 70% of higher-paid employees.
