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Tax deferred retirement plans |
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Tax deferred retirement plansEmployer-sponsored and other plans that allow contributions and earnings to be made and accumulate tax-free until they are paid out as benefits.Tax deferred retirement plans Similar MatchesIndividual Retirement Account (IRA)Individual Retirement Account (IRA)A retirement account that may be established by an employed person. IRA contributions are tax deductible according to certain guidelines, and the gains in the account are tax-deferred. 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. IRA (individual Retirement Account)IRA (individual Retirement Account)Savings programs available to individuals. The plans allow for a certain amount to be deposited each year. This money is not subject to income tax for that year or following years as long as it is not withdrawn. The money is taxed as withdrawn upon retirement, usually when the depositor is in a lower tax bracket. During the life of the account, the money may be put into various interest bearing investments. Securities dealers as well as banking institutions now offer IRA'S. Debt retirementDebt retirementThe complete repayment of debt. See: Sinking fund. RetirementRetirementRemoval from circulation of stock or bonds that have been reacquired or redeemed. Further Suggestionsnormal retirement ageindividual retirement account Bonds Enabling Annual Retirement Savings (BEARS) Registered Retirement Savings Plan (RRSP) normal retirement date Retirement Protection Act of 1994 retirement relief unfunded unapproved retirement benefits scheme retirement annuity contract (RAC) phased retirement Employee Retirement Income Security Act (ERISA) Employee Retirement Income Security Act Normal retirement |
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