overfund

(redirected from overfunds)

overfund

(ˌəʊvəˈfʌnd)
vb (tr)
(Banking & Finance) to supply with too much money
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
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Dr McEwen, who spoke at the all-party group on the UK's Changing Union in Cardiff, also suggested the Labour Party's contribution had been weak and "runs counter" to the hopes of many in Wales to reform the way devolved nations are funded, with Welsh Labour arguing for scrapping the Barnett formula, which many argue underfunds Wales by PS300m annually and overfunds Scotland by an estimated PS4bn.
For example, if a 30-year-old woman bought a $1 million policy with an expected return of 7.5% and a required annual premium of $5,750, but she overfunds the policy by paying $8,500 until age 55, she could borrow $65,000 a year against the policy from age 65 to 85, says Williams.