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Rabbi Trust
What does it mean?
A trust created for the purpose of supporting the non-qualified benefit obligations of employers to their employees.
In Other Words...
Called a Rabbi trust due to the first initial ruling made by the IRS on behalf of a synagogue, these forms of trusts create security for employees because the assets within the trust are typically outside the control of the employers and irrevocable.
These trusts are sometimes referred to as Grantor Trusts.
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Related Terms
Beneficiary | Grantor | Irrevocable Trust | Trust
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