prospetto di trattamento di fine rapporto
English translation: termnation benefit
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| 03:17 Mar 8, 2005 |
| Italian to English translations [PRO] Human Resources / salaries & benefits | |||||||
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|  Selected response from: Peter Cox Italy Local time: 05:58 | ||||||
Grading comment
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| Summary of answers provided | ||||
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| 4 +3 | severance pay/ severance indemnity |
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| 5 | schedule of termnation benefit |
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| 4 -1 | terminal funding contract |
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| Discussion entries: 1 | |
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Answers
1 hr confidence: 
peer agreement (net): -1
peer agreement (net): -1terminal funding contract Explanation: From Eurdicautom: trattamento di fine rapporto Reference A Salcioli,Ass Generali,Trieste Note {DOM} fondi pensione Definition a reserve system in a pension fund with respect to employees under the condition that the employees reach retirement age Reference Gerling Konzern (1) TERM terminal funding Reference Gerling Konzern Note {DOM} pension funds See this link: http://institutional.hartfordlife.com/public/products/term_f... Steps Involved With Terminating a Pension Plan Generally a terminal funding contract involves at one stage or another a host of players which include; the Plan Sponsor, an actuary and/or specialized broker / consultant, an insurance company, the Pension Benefit Guarantee Corporation (PBGC) and Internal Revenue Service (IRS). Phase One: Upon deciding to terminate a pension plan, a plan sponsor will determine the total accrued liability resulting from its obligations. In most cases, the participants will be notified of the intended plan termination. Phase Two Usually, a professional knowledgeable about this process is brought in and may assist the plan sponsor in making required filings, reviewing the plan's provisions and liabilities and articulating needed data in order to obtain initial bids from insurers. Phase Three: After initial bids are made, complete census data is compiled and transmitted and final bids are received from the insurers which are then analyzed and reviewed by the plan sponsor with the assistance of a broker / consultant. Phase Four: A decision is made, based in part upon the insurer's quote and service capabilities. Particular attention is made to the financial stability and claims paying-ability of the insurer and one of the gauges often used is the Department of Labor' (DOL) Interpretive Bulletin 95-1. Phase Five: The plan sponsor pays a single premium amount to the insurer and the long-term liability of these participants is effectively removed from the corporation's books. Phase Six: The insurer then fulfills a host of customer service and regulatory activities during the course of its benefit payment obligations until the final covered participant dies. Some of these activities include establishing and maintaining records, individual certificates, and annual tax information for each covered participant. |
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5 hrs confidence:
schedule of termnation benefit Explanation: trattamento di fine rapporto is an Italian peculiarity and usually consists of one month's pay per year of service, payable on termination of employment |
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5 hrs confidence: peer agreement (net): +3
peer agreement (net): +3severance pay/ severance indemnity Explanation: xx |
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