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Posts Tagged ‘annuity’
October 4th, 2010
(Money Manager) - Individual retirement annuity plans are set up so that they share many structural similarities with a regular individual retirement plan (IRA). However, in the case of an individual retirement annuity plan, there are certain conditions that have to be met and an annuity contract has to be purchased. Individual retirement annuity plans have to be issued in the name of the owner.
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September 6th, 2010
(Money Manager) - A Registered Retirement Income Fund (RRIF) is similar in some ways to an annuity contract. They are designed to provide one or more beneficiaries with a constant flow of income that will last throughout retirement. Those who have a Registered Retirement Savings Plan (RRSP) will roll their funds over into an RRIF when they retire. A Registered Retirement Income Fund will allow a person to keep their retirement funds sheltered from taxes, while still having access to them according to a designated distribution schedule.
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June 28th, 2010
(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.
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Tags: 457 plans, age distribution, annuity, compensation plan, educational organizations, emergency situations, exempt employees, federal income taxes, government organizations, government plans, installments, labor unions, lump sum, person changes, plan distributions, retirement age, retirement plans, state and local government, state and local governments, trade associations
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| Posted in Retirement, Taxes |
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June 7th, 2010
(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.
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Tags: annuities, annuity, dependable source, enhancement, financial planner, fixed rate, guesswork, important things, insurance product, interest rates, investment income, lump sum, option one, period of time, rate of return, retirement funds, retirement option, retirement plan, stock market, timeframe
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| Posted in Retirement |
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