deposit administration contract
Definition
Pension plan arrangement in which the plan sponsor deposits an asset (such as cash) in an insurance company account. Upon the retirement of the plan's beneficiary, the insurance company withdraws sufficient funds from the account as a lump sum payment for an immediate annuity.
deposit administration contract is in the Accounting & Auditing and HR, Teams, & Training subjects.
This content can be found on the following page:
http://www.businessdictionary.com/definition/deposit-administration-contract.html
email to a friend print this definition cite this definition