Tag: benefits
Reverse Mortgage
DefinitionA reverse mortgage is a type of home loan for older homeowners that requires no monthly mortgage payments. Borrowers are still responsible for property...
Roth IRA
Roth IRA can be defined as a tax advantage retirement account. It is offered by the U.S. government. This account includes stocks, bonds, Certificate...
Savings Incentive Match Plan For Employees Of Small Employers (SIMPLE)
What is 'Savings Incentive Match Plan For Employees Of Small Employers - SIMPLE' A retirement plan that may be established by employers,...
Lapse
What is a 'Lapse' A lapse is the cessation of a privilege, right or policy due to time or inaction, so a...
Charitable Remainder Trust
What is a Charitable Remainder Trust
A Charitable Remainder Trust, or CRT, is a type of trust that allows the settlor (the person establishing the...
Canada Pension Plan (CPP)
What is the Canada Pension Plan (CPP)?
The Canada Pension Plan (CPP) is a government-sponsored retirement savings program. It is a defined benefit pension plan,...
Cafeteria Plan
DefinitionA cafeteria plan is a type of employee benefit plan offered in the United States pursuant to Section 125 of the Internal Revenue Code....
Canada Revenue Agency (CRA)
What is 'Canada Revenue Agency - CRA' A federal agency that collects taxes and administers tax laws for the Canadian government, as...
Patent
What is a 'Patent' A patent is a government license that gives the holder exclusive rights to a process, design or new...
Pension Fund
DefinitionA pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income. Pension Fund...