Multiple Employer Trust (MET): A trust consisting of multiple small employers in the same industry, formed for the purpose of purchasing group health insurance or establishing a self-funded plan at a lower cost than would be available to each of the employers individually.

 

Related Words

Multiple Employer Trust (MET): A trust consisting of multiple small employers in the same industry, formed for the purpose of purchasing group health insurance or establishing a self-funded plan at a lower cost than would . . . View Full Definition

Professional Employer Organization (PEO): An organization that enters into a join-employment relationship with an employer, by leasing employees to the employer, allowing the PEO to share and manage many employer-related responsibil . . . View Full Definition

Qualified Domestic Trust (QDOT): If your spouse isn’t a US citizen and your estate is large enough to risk being vulnerable to estate taxes, you can use a qualified domestic trust (QDOT) to allow your spouse to enjoy the be . . . View Full Definition

Personal Trust: An interest in an asset held by a trustee for the benefit of another person.

Options Contract Multiple: A constant, set at $100, that when multiplied by the cash index value gives the dollar value of the stock index underlying an option. That is the dollar value of the underlying stock index = . . . View Full Definition

Nondiscretionary Trust: A personal trust whose trustee has no discretion in deciding how income will be distributed to the beneficiary.

Open-End Trust Deed: An expandable loan in which the borrower is given a limit up to which he or she may borrow, with each incremental advance to be secured by the same trust deed.

Qualified Plan Or Trust: A tax-deferred plan allowing employer and employee contributions that build up savings, which are paid out at retirement or on termination of employment. Tax is paid only when amounts are dr . . . View Full Definition

Revisionary Trust: An irrevocable trust that becomes a revocable trust after a certain amount of time.

Revocable Trust: A revocable trust is a living trust that can be modified or revoked by the grantor, or person who establishes the trust and transfers property to it. The trust can be a useful estate-plannin . . . View Full Definition