PENSION MAXIMIZATION Definition

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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ACCOUNTING EVENT is when the assets and liabilities of a business increase/decrease or when there are changes in owners equity.

ACH is Automated Clearing House.

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