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Debt retirement |
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Debt retirementThe complete repayment of debt. See: Sinking fund.Debt retirement Similar MatchesNormal retirement dateNormal retirement dateSee 'basic state pension'. Employee Retirement Income Security ActEmployee Retirement Income Security ActIn the US, a federal law introduced for the protection of participants in private pension plans. Early retirementEarly retirementFor company pension schemes, an employee may retire at an early age provided it is authorised by the company. In the UK, qualifying ages are 50 for men and 45 for women. However, the amount of pension payable will reduce compared with the amount payable at normal retirement age. Individual retirement accountIndividual retirement accountIn the US, a tax-deferred retirement savings account which may be set up by people in employment. IRA contributions are tax deductible irrespective of income if neither spouse is a member of a qualified plan or trust. A person who is a member of a qualified plan may still deduct IRA contributions providing adjusted gross income is below a certain level. Although savings grow tax free over the term of the plan, when pension benefits are taken, they will be liable to tax. Unfunded unapproved retirement benefits schemeUnfunded unapproved retirement benefits schemeAn unfunded occupational pension scheme that is not designed to be approved by the Pension Schemes Office. Further Suggestionsretirement reliefNormal retirement phased retirement Individual Retirement Account (IRA) Retirement retirement annuity contract (RAC) Employee Retirement Income Security Act (ERISA) Bonds Enabling Annual Retirement Savings (BEARS) IRA (individual Retirement Account) Retirement Protection Act of 1994 Tax deferred retirement plans normal retirement age Registered Retirement Savings Plan (RRSP) |
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