Legal Dictionary of Pakistan

qualifying event.

Any one of several specified occasions that, but for the continuation-of-coverage provisions under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA), would result in a loss of benefits to a covered employee under a qualified benefit plan. ( These occasions include employment termination, a reduction in work hours, the employee's separation or divorce, the employee's death, and the employer's bankruptcy. IRC (26 USCA) § 4980B(f)(3).