key employee


Also found in: Financial, Acronyms, Wikipedia.

key employee

Any Reservist identified by his or her employer, private or public, as filling a key position.
Dictionary of Military and Associated Terms. US Department of Defense 2005.
References in periodicals archive ?
So the substitution of one insured for another under a policy exchange rider on a corporate-owned key employee life insurance contract will be taxed as if the corporation sold the first policy and used the proceeds to purchase the new contract.
It had adopted a 457(b) plan for one participant, who was a key employee. The deferral would last until the participant reached age 70, died, became disabled, separated from service, or had an unforeseeable emergency.
However, holding a key employee insurance policy can keep the rest of the dominoes from falling simply by creating a cash reserve that carries the firm through the transition period subsequent to the death of a key employee.
sued its competitor, Sentex, and one of its employees, who had been a key employee for Electronic Security Systems.
The purpose in transferring the stock to the key employee should not be attainable in an alternative nontaxable transaction that does not involve the distribution of Controlled stock and is not impractical or unduly expensive.
Or specialized benefit programs, like a nonqualified deferred compensation program, could be created exclusively for key employees. If an employer can help a key employee supplement his or her retirement income, loyalty and motivation are quick to follow.
A properly drafted STEP document will provide buyout provisions in the event of a key employee termination.
Recognizing the death of a key employee of certainly the business owner could mean the end of the business itself, most small businesses own life insurance policies on these individuals.
Consti Group Oyj (HEL:CONSTI), a Finnish company concentrating on renovation and technical services, announced on Friday that its board of directors has decided to continue the key employee share-based incentive plan launched in 2016.
Rather than just relying on the base benefits group term life and an LTD plan provide, the key employee receives individual life and disability income insurance.
Unless they own 5% of the business, executives now must make at least $130,000 to be considered key employees. In addition, Congress eliminated the five-year, look-back rule.