Invalid diagnostic code in which an extra digit has been added to a four-digit code to make it five digits. Medicare payers return such claims as unprocessable.

Legal entity (trustee) in which property and funds are held and managed by either a person or third party for a beneficiary. Two types are living trust and testamentary trust.
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UK: An arrangement under which property is transferred to a person called the trustee or several such persons. Trustees are under an obligation to keep the property or deal with it for the benefit of others, the beneficiaries. The trust is created by a trust deed. Occupational pension schemes are set up under trust deeds. See PARTNERSHIP; MARRIED WOMEN’S PROPERTY ACT 1882; TRUST POLICIES.
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An arrangement under which a donor transfers property to a trustee who manages and distributes the property in accordance with the terms of a trust agreement for the benefit of a trust beneficiary.

Legal document that sets up a trust fund, allocates specific assets contained in the trust, and states rules for carrying out the duties and responsibilities of the trustee for investing and administration.
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An agreement under which certain assets are deposited by one party (the grantor), for the sole benefit of another party (the beneficiary), into an account managed by a third party (the trustee). In reinsurance, such an agreement is typically established to permit a licensed cedant to take credit for non-admitted reinsurance up to the value of the assets in trust.

1. Type of employer’s funding instrument for retirement accounts and employee benefits. The other types are an insured plan or combination plan . 2. Separate account in the U.S. Treasury, mandated by Congress, whose assets may be used only for a specified purpose. For the supplementary medical insurance (SMI) trust fund, monies not withdrawn for current benefit payments and administrative expenses are invested in interest-bearing federal securities, as required by law; the interest earned is also deposited in the trust fund.

Type of retirement plan in which employer and employee contributions are given to a trustee (individual or institution) who invests the funds and may make benefit payments to the participants.

Short-range measure of the adequacy of the trust fund level; defined as the assets at the beginning of the year expressed as a percentage of the outgo during the year.

Appointed individual to administer a trust that must manage and safeguard the property according to the conditions stated in the trust. Also called grantee .
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The individual who has been placed in charge of the property of another person or people.
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A person appointed to manage the property of another. Trustee in General Average Two persons appointed by the ship owner and the cargo owners respectively to be trustees of a general average fund.

Individual who creates a trust that grants the contents of the trust to another person (grantee). Also called grantor or settlor .