CASH & EQUIVALENTS Definition

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CASH & EQUIVALENTS means all cash, marketplace securities, and other near-cash items. Excludes sinking funds.

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GRANDFATHERED INVESTMENTS are Municipal bonds and equities acquired on or before August 7,1986, the effec­tive date of changes in tax rates caused by the Tax Reform Act of 1986. These investments are not subject to the 5.1 % property-casualty insurance company proration tax.

KEOGH is a pension plan in the United States that allows a business to contribute a portion of profits into a tax-sheltered account.

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