Insurance trust system

{
  "id": "MLC-T-ECS-000961",
  "term": "Insurance trust system",
  "field": "Economic statistics",
  "definition": "A government-administered plan for compulsory or voluntary social insurance (insurance protection of persons or their survivors against economic hazards arising from retirement, disability, death, accident, illness, unemployment, etc.) through accumulation of assets from contributions, assessments, premiums, and the like collected from employers and employees for use in making cash benefit payments to eligible persons covered by the system.\n\nComprises employee retirement, unemployment compensation, workers' compensation, and miscellaneous (accident, sickness, and other disability benefit) systems. In exhibit statistics, each insurance trust system is treated as an entity, with its transactions including intragovernmental amounts. However, intragovernmental transactions are excluded from the insurance trust components of revenue and expenditure.",
  "subject": "Governments",
  "see_also": [
    "Insurance trust expenditure",
    "Insurance trust revenue",
    "Statistics about Governments"
  ],
  "references": [
    "U.S. Census Bureau Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/insurance-trust-system/"
}