McAfee SECURE sites help keep you safe from identity theft, credit card fraud, spyware, spam, viruses and online scams Money Manager.com is a BBB Accredited Business. Click for the BBB Business Review of this Financial Services in Knoxville TN

Money Manager Articles

Home > 2010 > June

Archive for June, 2010

June 28th, 2010

What is a 457 Plan?

(Money Manager) - A 457 plan is a deferred and non-qualified compensation plan. These plans are established by state and local governments, tax-exempt local governments, and employers who are tax-exempt. Employees who are eligible can make contributions to these plans, which are tax-deferred, so that all contributions will not be taxed until the assets are distributed at retirement.

Read the rest of this entry »
June 21st, 2010

What is a 412(i) Plan?

(Money Manager) - The 412(i) plan is designed to be used for small United States business owners. These plans often suit the needs of those who might have problems saving for retirement while also focusing on building and investing in their company. These plans can provide the largest possible tax deduction, and are funded by an insurance company.

Read the rest of this entry »
June 16th, 2010

What is a 408(k) Plan?

(Money Manager) - A 408(k) is a plan that allows employees of smaller companies and those who are self-employed to save money for retirement. Although many people think the 408(k) term is the actual name of a plan, it is really a term that describes an Internal Revenue Code. This code defines and details the Simplified Employee Pension account, which is commonly referred to as an SEP account. These plans allow individuals to contribute to a retirement plan account using their pre-tax dollars. The use of pre-tax instead of after-tax dollars can effectively reduce an employee's income for the year, which can result in significant tax savings for the individual.

Read the rest of this entry »
June 12th, 2010

What is a Testamentary Trust?

(Money Manager) - A testamentary trust is one of the most common varieties of trusts. These trusts are activated by a person's will at the time of their death. Testamentary trusts are commonly used to provide benefits for a minor child or disabled child even if they are older, in the case of the death of both parents. Testamentary trusts can also be set up under certain circumstances for one's spouse as a way of providing benefits to them.

Read the rest of this entry »
June 7th, 2010

What is a Term Certain Annuity?

(Money Manager) - A term certain annuity is an insurance product which is designed to provide a person with predetermined payments over a designated period of time. Term certain annuities can be purchased gradually over many years, with the person making regular payments towards the total purchase amount. However, these are often purchased at the time of a person's retirement, using one lump sum of retirement funds. The main thing to keep in mind when purchasing a term certain annuity is that they are designed for a specific timeframe. Once the overall term has expired, there can be no further payments made.

Read the rest of this entry »
June 1st, 2010

What is the Teacher Retirement System?

(Money Manager) - Teacher retirement systems are offered by individual states, for the purpose of offering pension and retirement benefits to teachers and other qualifying education system employees. These systems can vary widely from state to state in the way they are funded and how the contributions are made. There are also differences in how the percentage of the teacher's final salary is calculated according to the plan and how a teacher qualifies for the pension. There are also differences in the portability of the pension benefits.

Read the rest of this entry »

You are currently browsing the Money Manager archives for June, 2010.

  
Portfolio Management
Retirement Planning
Estate Planning
Education Planning
401K Rollover
Services
News
Money Manager Login
Privacy Policy
Terms of Service
Contact
Money Manager Directory
Calculators
Sitemap
© 2017 MoneyManager.com All rights reserved