PENSION MAXIMIZATION Definition

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PENSION MAXIMIZATION is a controversial strategy, often espoused by life insurance agents, of using insurance to augment a company benefit plan. Under this arrangement, a retiree takes pension payments for his or her own life only and buys life insurance to provide for a surviving spouse. Also known as pension max.

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EDI see Electronic Data Interchange.

PASS-THROUGH is a mortgage or asset-backed security for which the payments on the underlying debt are passed from the debtor through the servicing agent (who receives a fee) to the security holder.

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