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A company's pension fund for its current and former employees is often held by a securities firm or a bank. The fund is administrated by a trustee that was appointed usually by the company. The trustee is assigned the duties of making sure all the company's required duties are being met. The trustee is also responsible for insuring that the fund is handled in accordance with the regulations that were set up by the company. The trustee is also responsible for making sure the investments in the fund are sound ones and are diversified.
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What does Shall hold The Trust Fund Upon Trust mean?
The phrase "Shall hold The Trust Fund Upon Trust" indicates that a trustee is legally obligated to manage and protect the assets of the trust fund for the benefit of designated beneficiaries. This means the trustee must act in the best interests of the beneficiaries, adhering to the terms outlined in the trust document. The trustee has a fiduciary duty to ensure that the trust's assets are administered according to its purpose and the wishes of the grantor.
What does 'being invested in a pension' mean?
It means some of your money is being saved in a fund/account that is or will be used to pay you money (on a monthly basis) after you retire and stop working (at age 60 or 65).
What does lifetime pension mean?
pension is a thing you get from retierment for work,and more.You will be guarrteed to have pension when your 65 years old
What does 'pensioner' mean?
The official definition of the word pension is "a regular payment made during a person's retirement from an investment fund to which that person or their employer has contributed during their working life."
What does TTEE mean on a bank account?
Trustee
What does activity mean regards to medication taken orally?
what does activity mean regards to medication
Does substitution of trustee mean the same as termination of trustee?
No, substitution of trustee and termination of trustee are not the same. Substitution of trustee refers to the process of replacing one trustee with another while maintaining the trust's existence and terms. In contrast, termination of trustee involves ending the trustee's role and potentially dissolving the trust or redistributing its assets. Each process has different legal implications and outcomes for the trust and its beneficiaries.
What does ATF mean on a bank statement?
Could be "as trustee for"
What does TTEE mean?
TTEE is an abbreviation for "trustee." The trustee on a trust or on a other deposit account controls the assets in the trust or the funds in the account.
What is substitution of trustee?
Replacing the trustee with another for some reason; maybe the trustee gets old and finds the job burdensome. There might be another trustee named in the document as authorized "..in the event first trustee resigns." I'm no lawyer, but I guess you could petition the court for a replacement trustee if you could prove the trustee was not following the lawful trust instructions or something.
Can warmest regards mean that he is very fond of her?
No. It means that the man is giving her regards.
What does best regards mean?
Best regards is a closing term used in a letter or speech. It mean that you wish the party well.
