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Life Agents' Retirement Plans under New York State Expense Limitations

at retirement as a single premium, using a mortality table and rates of interest fixed at the time the ... of deferred paid-up annuity at retirement, using a speci- fied mortality table and rate of interest ...
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Description: This paper is from the Transactions of Society of Actuaries 1956 Volume 8, Number 20. It was presented at the 1956 Spring Meetings of the Society of Actuaries for discussion. The author presents and discusses the provisions of typical agents’ and general agents’ retirement plans. The author then discusses the cost limitations of section 213 of the New York Insurance Law as they apply to agents’ compensation in general, and retirement plans in particular, including a technique acceptable to the New York Insurance Department for demonstrating compliance. The author demonstrates the practical application of this technique with a model submission.
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- Authors: Peter M. Tompa
- Date: Apr 1956
- Competency: External Forces & Industry Knowledge
- Publication Name: Transactions of the SOA
- Topics: Pensions & Retirement>Plan design; Public Policy

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