1) In the case of a variable annuity, a measurement of the value invested in the account during the accumulation period of the contract. The more funds you contribute to your annuity account, the more accumulation units you will build.2) In the case of a unit trust, a type of investment structure where the trust's income is directly reinvested into the trust, instead of being paid out as cash to the investor. 1) Accumulation units are used to accurately measure the value of contributions by the annuitant. In times when the variable annuity's investments dip, a fixed amount of funds will buy more accumulation units than when the securities are more highly priced, just as investors are able to by more shares of cheaper stock than they can of higher priced stock with the same amount of currency.2) Accumulation units within a unit trust can be reinvested back into the trust via boosting the unit price, or issuing additional units to investors. Either way, the investor is able to reinvest their share of profits back into the trust.
1. A period of time when an annuity investor is in the early stages of building up the cash value of the annuity. This is followed by the annuitization phase where payments are paid out to the annuitant.2. The period of time when an investor builds up the value of their investment through savings. 1. When a person invests money in an annuity for the purpose of providing income for retirement they are at the accumulation period of the annuity's lifespan. The more invested during the accumulation phase, the more will be received during the annuitization phase.2. Postponing consumption by saving during an accumulation period will most often increase the amount of consumption one will be able to have later. The earlier the accumulation period is in your life, the more advantages you will have, such as compounding interest and protection from business cycles.
A provision in a life insurance policy that allows the policy to be changed in one or more ways. This may involve increases or decreases to either the policy's premium or face amount, changes to the length of protection or period of premium payments. Adjustable life insurance policies are more expensive but allow the policy holder to make adjustments as his or her needs change. Insurers and plans differ regarding the frequency, amount and degree of changes allowed. Increases to a policy's face amount usually require that the policy holder re-prove his/her insurability.
An extra allocation of funds to a retirement savings account that is above the amount that an employer will provide a matching contribution for. Additional voluntary contributions are made at the discretion of the employee and go to an employer sponsored pension plan. Additional contributions can be made to tax-deferred savings accounts such as the 401(k), 403(b) and individual retirement accounts (IRAs). Additional voluntary contributions allow employees to contribute more money to their tax-deferred savings account. Employer-sponsored retirement plans typically indicate the percentage of the employee's salary that will be matched with contributions by the employer towards the retirement plan. Employees can make additional payments to increase the account's value and thereby increase the amount of money the employee will receive following retirement. Additional voluntary contributions may vary in tax treatment depending on the type of plan, but if they are made into a tax-defered account, any returns accumulate tax-free until retirement.
A Japanese business practice in which senior politicians retire to executive or high-profile positions within the corporate realm. Meaning "descent from heaven," amakudari as a practice shifts retired bureaucrats to industries related to the public sector work that they retired from, creating a strong bond between private and public sectors. Amakudari as a practice has been increasingly associated with corruption and a tie to old, outdated ways of doing business. The practice is considered corrupt because it creases a strong incentive for retired bureaucrats to resist reforms, since their high level jobs are directly related to their connections with the government. It is considered outdated because Japanese businesses often operate in a very hierarchical manner, with particular emphasis placed on seniority. This has been said to make advancement through merit difficult.
A type of private insurer that offers various types of coverage to both individuals and institutions. These insurers were originally created by groups of people or organizations that had a common need for a type of coverage that was not available commercially. In most cases, these same parties supplied the initial start-up capital to fund these facilities. Alternative risk financing facilities can provide several different types of coverage, such as property-casualty insurance, worker's compensation, directors and officers liability insurance and medical malpractice coverage. A wide variety of types of insured employ these facilities for coverage, such as banks, medical professionals, manufacturers and public entities. The majority of the headquarters for these entities are located in Bermuda.
The procedure that occurs upon the termination of any kind of pension plan. The allocation of plan assets on termination can occur in one of two ways: either each employee is repaid his or her contributions plus interest, or else the employees are categorized based on their entitlement to benefits. The allocation of plan assets is usually done by the plan administrator or trustee. Obviously, different types of employees will favor one type of allocation over the other. For example, highly compensated employees may come out ahead in the latter type of allocation listed above, while rank-and-file employees may benefit more from the former.
A type of payment that comes from a defined-benefit retirement plan. Allocated benefits are passed on (allocated) to the plan participants once the insurance company has received its premiums. Allocated benefits provide guaranteed retirement income to plan participants that is ultimately backed by the insurance carrier (and the PBGC). This term can also refer to the maximum amount that can be paid for a given service that is itemized in a contract. Because the benefits that have been purchased are paid up, the employees can rest assured that they will receive those benefits even if their former employer goes bankrupt. These payments are regulated under ERISA guidelines.
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