Posts tagged as:

qualified plan

Pension

by TheProAdvisor on October 22, 2009

Pension - A type of qualified retirement plan that an employee may receive from their employer.  A pension is essentially income received by the employee after they retire.

Tagged as: , , , ,

{ 0 comments }

Qualified Retirement Plan

by TheProAdvisor on August 28, 2009

Qualified Retirement Plan - A plan that meets the requirements of Internal Revenue Code Section 401(a) and the Employee Retirement Income Security Act of 1974 (ERISA) and is thus eligible for favorable tax treatment.  Contributions and earnings on those contributions are tax-deferred until withdrawn.

Tagged as: , , , , ,

{ 1 comment }

401k

August 28, 2009

401k – A type of qualified retirement plan offered by a business to its employees, which allows employees to set aside pre-tax income for retirement purposes.  In some cases the employer will make a matching contribution on the employees behalf.  The name 401(k) comes from the IRS section describing the program.

1 comment Read the full article →

403b

August 28, 2009

403b – A retirement plan similar to a 401(k) plan, but one which is offered by non-profit organizations, such as universities and some charitable organizations, rather than through a business.

0 comments Read the full article →

IRA

August 28, 2009

IRA – Individual Retirement Account.  A tax-deferred investment account funded with pre-tax dollars for an individual’s retirement.  Only those who do not participate in a qualified retirement plan at work or who do participate and meet certain income guidelines can make pre-tax contributions to an IRA.

0 comments Read the full article →

Should You Be Using Life Insurance In Your Retirement Planning?

July 6, 2009

So when did life insurance become a retirement account?  With the recent decline of the stock and real estate markets, many are rethinking insurance as an asset class.  Products like whole life, universal life, and indexed universal life have maintained their values when other assets like, stocks, mutual funds, variable annuities, and real estate haven’t.
So, [...]

2 comments Read the full article →

Qualified Retirement Plans – Good Idea or Ticking Time-bomb?

June 10, 2009

Qualified retirement accounts like IRA’s, 401k’s, and 403b’s have been gaining in popularity over the last 30 years.  They have almost entirely replaced corporate pension and defined benefit plans, with the few exceptions being government employers and union workers.  While all of the plans are technically different, they do have several major similarities.
First, qualified retirement [...]

1 comment Read the full article →