What is the Definition of Rollover?

What is the Definition of Rollover?

A direct transfer of retirement funds from one qualified plan to another plan of the same type or to an individual retirement arrangement (IRA) that does not pass through the hands of the owner and thus does not incur any tax liability for the owner. Also known as direct rollover and direct transfer.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Rollover?

You can find random definition and meaning of insurance terms below:

What is the meaning of Statement Type

refers to the primary business type under which the company files its annual and quarterly statement, such as Life, Property, Health, Fraternal, Title.

What is the meaning of Statement Value

the Statutory Accounting Principle book value reduced by any valuation allowance and non-admitted adjustment applied to an individual investment or a similar group of investments, e.g., bonds, mortgage loans, common stock.

What is the meaning of Statutory Accounting

method of accounting standards and principles used by state regulatory authorities to measure the financial condition of regulated companies and other insurance enterprises. This method tends to be more conservative than the Generally Accepted Accounting Principles used by most businesses. Compliance with solvency and other standards is determined using financial documents prepared in accordance with Statutory Accounting Principles.

Thank you for visiting our website and read this FAQ article about "What is the Definition of Rollover?". We hope you get what you searching for.

definitionly.com is a website that contains information about the definition or meaning of a word. You can search for the terms you are looking for in the search field above.

Related Posts

Subscribe Our Newsletter