IRA ADOPTION AGREEMENT AND PLAN DOCUMENT
An agreement between the individual retirement account (IRA) holder and the financial institution where the account is held. The document denotes the IRA terms such as contribution limit, basic information about the holder including address, age, date of birth, and Social Security number, as well as the rules about the retirement account. The agreement will take effect once it is signed by the account owner.
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Affirmative Covenant
A kind of contract or promise that requires a party to conduct some action. For example, a bond covenant which provides that the issuer must delive ...
Pure Risk
A risk where loss is the only potential outcome; there is no positive result. A pure risk is related to events that are out of control of the risk- ...
Efficiency
Performance level describing a process which uses the lowest amount of inputs to come up with the greatest amount of inputs. It is relative to usin ...
Tax Free
Goods and/or financial products that are not taxable. Having the tax free status allows an entity to save money and encourages additional spending ...
Reprice
A situation that is most often allowed for company executives or high-level employees. It permits them to trade in their options that out of the mo ...
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