SUBSTANTIALLY EQUAL PERIODIC PAYMENT - SEPP
Plan allowing individuals, who have contributed to an IRA or another eligible retirement plan, to take their funds out before reaching the age of 59.5, and exempting them from income tax and early withdrawal penalties. Normally, an individual who prematurely withdraws assets from a plan has to pay taxes on any income generated by the fund plus a 10% penalty. Through this plan, the funds are placed into an SEPP plan which pays the person annual distributions for five years or upon reaching the age of 59.5.
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Dynasty Trust
Long-term trusts made to pass wealth from one generation to another without paying transfer taxes including estate and gift taxes. The trust can su ...
C&I
Loan made to a business or company, not to an individual, which provides either working capital or finances key capital expenditures. Usually short ...
Hypermarket
Hypermarket is a combination of a department store and a grocery supermarket. A hypermarket offers various products like clothing, groceries, and a ...
Assets Under Management
The asset's market value which an investment company handles on behalf of investors. Assets Under Management (AUM) is perceived as a scale of s ...
Business Income Coverage Form
Insurance policy which covers a loss of income a firm incurs due to a slowdown or temporary suspension of its operations because if damage to its p ...
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