split-funded plan
- A type of retirement plan that merges life insurance and an investment fund together
- The company decided to implement a split-funded plan to provide both life insurance and investment opportunities to their employed retirees.
- Due to the benefits of life coverage and investment possibilities, Mary chose the split-funded plan for her retirement package.
- Given the nature of a split-funded plan, it can offer retirees a secure financial future through life insurance and revenue from investments.
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