An in-depth look at 401(k) loans, their benefits and drawbacks, historical context, key events, types, importance, applicability, examples, related terms, and much more.
Comprehensive overview of 401(k) plans: employer-sponsored retirement savings accounts providing tax advantages and investment options for future retirement income.
A 403(b) plan is a retirement savings plan designed for employees of public schools and certain tax-exempt organizations, similar to a 401(k) plan but specifically for non-profits and public schools.
A 412(e)(3) plan is a type of defined benefit pension plan that is funded exclusively by life insurance and annuity contracts. Known for guaranteed benefits, these plans are subject to enhanced regulatory scrutiny to prevent abuses.
457 Plans are retirement plans available to state and local government employees that allow for tax-advantaged savings and investments.
Actuarial Reduction refers to the decreased benefit amount one receives if Social Security retirement benefits are claimed before reaching the Full Retirement Age (FRA).
Additional Voluntary Contribution (AVC) refers to extra payments that employees can make to their pension scheme to boost the benefits they receive upon retirement. These contributions can be directed towards either the pension payable or a tax-free lump sum.
Annuities are insurance products that provide guaranteed income streams, used primarily as part of retirement strategies. They can offer fixed or variable periodic payments, playing a crucial role in financial planning.
An annuity is a financial contract where an individual pays a premium to an insurance company in exchange for periodic payments over time, providing a reliable income stream. This article delves into the types, historical context, key events, mathematical models, importance, applicability, and more.
An in-depth analysis of the Average Earnings Scheme, its historical context, types, key events, formulas, applications, and more.
A comprehensive overview of Career Average Schemes, a form of defined benefit pension determined by the average salary during membership in the pension scheme.
A comprehensive guide to understanding cash balance plans, a type of defined benefit plan that operates with a stated account balance.
A comprehensive guide to catch-up contributions, a provision that allows individuals aged 50 and over to make additional contributions to retirement accounts in order to better prepare for retirement.
Continuing Care Retirement Communities (CCRCs) offer a range of options from independent living to full nursing care. Explore historical context, types, key events, explanations, importance, applicability, and more.
An in-depth exploration of contributory pensions, where both employees and employers contribute to the pension fund, including historical context, key events, types, formulas, importance, and more.
A detailed exploration of the contributory pension scheme where both employees and employers contribute to retirement funds, including historical context, key events, mathematical models, and practical applications.
A comprehensive guide to understanding defined-contribution pension schemes, including their history, types, importance, and related concepts.
A detailed exploration of Deferred Profit Sharing Plans (DPSPs), their types, importance, applicability, and related financial concepts.
Deferred Retirement Credit refers to earned credits that increase retirement benefits as a reward for delaying retirement.
A Defined Benefit (DB) Plan is a type of retirement plan that offers guaranteed payouts based on an employee's salary and years of service, ensuring financial security upon retirement.
Defined Benefit Pension Plans promise a specified monthly benefit upon retirement, providing financial security to retirees.
A Defined Benefit Plan (DB Plan) provides a guaranteed retirement benefit based on an employee's salary and years of service. This type of pension plan offers a predictable income stream for retirees.
A comprehensive guide to Defined Contribution Pension plans, detailing historical context, types, key events, mathematical models, and more.
A comprehensive guide to understanding Defined Contribution Plans, where contributions are defined, but the final retirement benefits are subject to investment performance.
A Defined-Benefit (DB) Plan is a retirement plan where the benefit amount is predetermined based on a formula considering factors such as salary history and duration of employment.
An in-depth look into Defined-Benefit Pension Schemes, their structure, importance, and evolving landscape in the retirement planning industry.
A detailed explanation of Defined-Benefit Schemes, which are retirement plans that promise a specified monthly benefit upon retirement, usually based on salary and years of service.
A Defined-Contribution (DC) Plan is a retirement plan in which the employer, employee, or both make contributions on a regular basis, but the future benefits fluctuate based on investment performance.
A detailed exploration of Defined-Contribution Pension Schemes, including their types, benefits, comparisons, and key considerations.
Detailed exploration of Delayed Retirement Credits, their definition, mechanism, historical context, examples, and related financial terms.
Elective Deferral refers to voluntary contributions made by an employee to their retirement plan from their own salary on a pre-tax or after-tax basis.
Employer matching contributions are additional funds contributed by an employer to an employee's retirement plan, designed to match the amount the employee saves.
A detailed exploration of fully funded pensions, their significance, mechanics, and comparison with other pension schemes.
A comprehensive overview of the Funded Pension System, where contributions are saved and invested to generate returns for future pension payments.
An Immediate Annuity begins making periodic payments almost immediately after a lump-sum payment is made. This type of annuity is often used by retirees seeking a steady income stream.
An in-depth exploration of Individual Retirement Accounts (IRAs), including historical context, types, key events, and practical applications for retirement planning.
Individual Retirement Accounts (IRAs) are personal retirement accounts that offer tax advantages but do not include employer contributions. This article covers their historical context, types, key events, detailed explanations, applicability, and more.
A comprehensive guide to the Keogh Plan, a US retirement savings scheme for self-employed individuals and employees of small businesses, providing tax deferral benefits.
A comprehensive comparison between Life Income Funds (LIF) and Locked-In Retirement Accounts (LIRA), detailing their functions, differences, and usage in retirement planning.
The Life Expectancy Factor is a numerical value provided by IRS tables, essential for calculating Required Minimum Distributions (RMDs) from retirement accounts.
A comprehensive guide to Life Income Funds (LIFs), their regulations, types, historical context, and practical applications for retirement income.
An in-depth exploration of Locked-In Retirement Income Funds (LRIFs), their regulations, importance, and practical applications.
An in-depth look at non-contributory pension schemes, where the employer shoulders the entirety of contributions, and the implications for employees and businesses.
A comprehensive guide to non-qualified annuities, their history, types, key events, detailed explanations, formulas, charts, importance, applicability, examples, considerations, related terms, comparisons, interesting facts, quotes, proverbs, jargon, FAQs, and references.
A Nonqualified Deferred Compensation Plan (NDCP) allows executives to defer a portion of their income until a later date, typically retirement, providing tax benefits and customized payout options.
A comprehensive overview of pensions, their types, importance, and historical context, providing a financial safety net for retirees.
A comprehensive overview of Pension Adjustment (PA), its significance in retirement planning, and how it affects RRSP contribution limits.
Comprehensive coverage on the concept of pension benefits, including historical context, types, key events, mathematical models, and more.
Pension Funds are investment pools tailored to facilitate Baby Boomers and other individuals in saving for retirement, providing a structured and secure method of accruing financial resources for the post-employment phase of life.
Regular periodic payments to retired employees. Financial programs that provide income during retirement based on years of service and salary history.
An in-depth analysis of pension schemes, their types, historical context, importance, applicability, examples, and related terms.
An in-depth exploration of pension schemes, including contributory and non-contributory pension schemes, under-funded and unfunded pension schemes, historical context, types, key events, and examples.
A Personal Pension Scheme allows individuals to contribute part of their salary towards a pension provider, such as an insurance company or bank, which invests the funds for retirement.
An occupational pension that enables individuals to retain their pension rights despite changing employers.
A comprehensive guide to understanding qualified benefit plans, including their historical context, types, key events, detailed explanations, mathematical models, importance, applicability, examples, considerations, related terms, comparisons, interesting facts, inspirational stories, famous quotes, proverbs and clichés, expressions, jargon, and FAQs.
A comprehensive guide to Qualified Plans, detailing their types, key events, benefits, rules, and more, with historical context, mathematical models, examples, and related terms.
A Registered Pension Plan (RPP) is a pension plan that permits contributions to accumulate tax-deferred until withdrawn during retirement, designed to provide income to employees after they retire.
A comprehensive overview of Registered Retirement Income Funds (RRIFs), a type of retirement account in Canada from which individuals can withdraw income after retirement.
A comprehensive guide to the Registered Retirement Savings Plan (RRSP), exploring its definition, types, benefits, historical context, and associated regulations in Canada.
A detailed explanation of Required Minimum Distributions (RMDs), the minimum amount that must be withdrawn from retirement accounts annually starting at age 72.
A detailed look into Registered Pension Plans (RPP), their types, historical context, importance, applicability, and more.
Detailed comparison and analysis of Registered Retirement Savings Plans (RRSPs) and Locked-In Retirement Accounts (LIRAs), two major Canadian retirement savings vehicles.
An in-depth look at Safe Harbor 401(k) plans, which automatically meet Nondiscrimination Testing (NDT) requirements when specific conditions are fulfilled.
The Self-Employment Individuals Retirement Act, commonly referred to as the Keogh Plan, is a significant provision in U.S. retirement law enabling self-employed individuals and small business owners to create tax-deferred retirement accounts.
A retirement plan aimed at small businesses and the self-employed, offering simpler administration than Keogh Plans.
SEP IRAs are retirement accounts that provide self-employed individuals and small business owners with a simplified method of contributing to their employees' retirement savings, featuring higher contribution limits compared to traditional IRAs.
A retirement plan that allows employers to make contributions to employees' IRAs. Dive into the features, benefits, and regulatory aspects of SEP-IRA plans.
A Solo 401(k) is a retirement plan designed specifically for self-employed individuals or small business owners with no employees.
A detailed exploration of Stakeholder Pension, its types, benefits, regulations, and relevance in modern finance.
An in-depth look at the State Teachers Retirement System (STRS), detailing its purpose, benefits, eligibility, history, and comparisons with other retirement systems.
Explore the intricacies of superannuation, an essential component of retirement planning and occupational pension schemes.
A detailed examination of Supplemental Employee Retirement Plans (SERPs), their benefits, structure, and implications in corporate and retirement planning.
A 401(k) Plan is a retirement savings plan that allows employees to contribute pretax earnings to an individual investment account, which is later taxed upon withdrawal.
Allocated benefits in a defined-benefit pension plan ensure guaranteed pensions for employees as premiums are received and paid up, securing their retirement even if the employer goes out of business.
Learn about Benefit-Based Pension Plans, which feature corporate-guaranteed payments of insured benefits if covered plans terminate without sufficient assets.
A comprehensive guide to understanding Cash Balance Pension Plans, a hybrid pension model that combines features of both defined benefit and defined contribution plans.
Detailed exploration of Cash or Deferred Arrangement (CODA), commonly referred to as 401(k) plans in the United States, including types, benefits, historical context, and related terms.
A Cash or Deferred Arrangement (CODA) is a type of retirement plan that allows employees to choose between receiving cash now or deferring a portion of their income into a retirement savings account.
Catch-Up Contributions are supplemental, tax-deferred contributions permitted for individuals and employees aged 50 or older to IRAs and other qualified plans, aimed at enhancing retirement savings.
A Deferred Compensation Plan is a means of enhancing an executive's retirement benefits by deferring a portion of their current earnings, offering tax advantages and promoting executive loyalty.
Deferred Group Annuity involves retirement income payments that begin after a stipulated future time period and continue for life, providing a structured way to secure retirement income.
Deferred retirement occurs when an individual continues working beyond the normal retirement age, typically 65 or 70, without increasing their monthly retirement income.
A comprehensive overview of Defined-Benefit Pension Plans, focusing on their structure, formula, contributions, tax implications, and more.
A Defined-Contribution Pension Plan is a retirement plan in which the amount of contributions is fixed, but the benefits vary based on investment performance. This article provides comprehensive details on types, benefits, examples, and comparisons with defined-benefit plans.
Exploring Early Retirement, its requirements, benefits reductions, and implications for financial planning, particularly in pension schemes.
An in-depth look at excess contributions in cash or deferred arrangements (CODAs) for highly compensated employees, exploring nondiscrimination rules, implications, and solutions.
Fixed Benefits refer to a payment made to a beneficiary that remains constant and does not vary over time. An example includes a fixed monthly retirement income benefit, such as $800 paid to a retired employee.
A comprehensive overview of hybrid pension plans, their structure, types, examples, historical context, and applicability in modern financial planning.
The IRA rollover provision allows individuals receiving lump-sum payments from their employer's pension or profit-sharing plan to transfer these funds into an IRA investment plan within 60 days, tax-free. However, if funds aren't transferred directly to an eligible plan, 20% of the distribution is withheld by the payor.
A Keogh Plan, also known as an H.R. 10 Plan, is a retirement savings plan for self-employed individuals and unincorporated businesses. Understand the types, benefits, and special considerations.
A Lump-Sum Distribution involves the payment of the entire amount of retirement benefits in a single payment, rather than in periodic installments.
Comprehensive Definition and Explanation of Normal Cost in a Defined-Benefit Pension Plan
Comprehensive guide on Past Service Liability focusing on funding employee pension benefits for prior service. Insightful discussion on cost implications and future benefit financing.
A comprehensive exploration of the Pension Equity Plan (PEP), a type of defined-benefit pension plan offering a lump sum based on age, service, and final average pay.
A comprehensive guide to Pension Freeze, detailing its types, implications, and related terms.
A detailed overview of Group Deposit Administration Annuity in Pension Plan Funding, exploring its structure, benefits, and operational mechanics.
SIMPLE IRAs are a type of retirement plan that qualifying small employers with no more than 100 employees can offer to their employees. This plan allows self-employed individuals to contribute as well, facilitating tax-deferred retirement savings.
A Simplified Employee Pension Plan (SEP) is a retirement plan that provides business owners with a simplified method to contribute toward their employees’ retirement and their own retirement savings.
An overview of Single Life Distributions, including their definition, taxation, and applicability from retirement plans.
