deposit administration plan (DAP)
A deposit administration plan is a pension plan administered by a life insurance company where pension funds accumulate in a master group annuity policy until a participant retires.
deposit administration plan (DAP)
A deposit administration plan is a pension plan administered by a life insurance company where pension funds accumulate in a master group annuity policy until a participant retires.
Additional Information
As plan members retire, individual annuity policies are purchased with money from the fund. Also known as deposit administration contract and group deposit administration annuity.
