ASSET REVERSION is asset recovery by the sponsoring employer through termination of a defined benefit pension fund and/or of assets in excess of amounts required to pay accrued benefits of a pension fund. In the U.S., assets recovered through reversion are subject to corporate income tax and an excise tax.
CHAIRPERSON OF THE BOARD is the head of the board of directors of a corporation, and generally considered as head of the firm.
PEP see PERSONAL EQUITY PLAN.
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