Funded

{
  "id": "MLC-T-INS-003656",
  "term": "Funded",
  "field": "Insurance and risk management",
  "definition": "Describing a benefit plan, such as a pension or trust, for which assets have been set aside in advance to meet future obligations. These assets are held in a separate legal entity, like a trust, protecting them from the sponsoring company's creditors and securing the benefits for participants. The funding level is the ratio of plan assets to projected liabilities; a ratio below 80% may trigger specific regulatory requirements under the Pension Protection Act of 2006.",
  "url": "https://mlchart.com/terminology/insurance/funded/"
}