Sentences with phrase «mec stands»
The MEC stands for modified endowment contract and once it goes over the MEC level it no longer has the tax free treatment.
http://www.paramountlifeinsurance.com/
MEC stands for modified endowment contract, and it comes into play when you contribute too much money into a policy at a given time.
Not exact matches
As the Bill stands there will be many more areas for exercise of discretion by C - MEC and the decision - making process is likely to be under frequent challenge: circumstances for value judgment by civil servants are rife.
As a result, the IRS as the ultimate party pooper, created the modern day MEC rules which stands for Modified Endowment Contract.