retirement account

(redirected from Retirement annuity)
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ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.retirement account - a plan for setting aside money to be spent after retirement
plan, program, programme - a series of steps to be carried out or goals to be accomplished; "they drew up a six-step plan"; "they discussed plans for a new bond issue"
401-k, 401-k plan - a retirement savings plan that is funded by employee contributions and (often) matching contributions from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments yourself
individual retirement account, IRA - a retirement plan that allows you to contribute a limited yearly sum toward your retirement; taxes on the interest earned in the account are deferred
Keogh plan - a tax-deferred pension plan for employees of unincorporated businesses or for self-employed persons
References in periodicals archive ?
It will help make the uniformed services more attractive to new generations of American citizens by providing a retirement annuity with options on how to shape their retirement benefit.
Launched in April 2015, people aged 55 have been able to access their pension savings as they wish, subject to their marginal rate of income tax, rather than being required to buy a retirement annuity.
WORST YEAR ON RECORD' FOR ANNUITIES RETIREMENT annuity rates are suffering their worst year on record, making it even harder for people to secure a decent income, according to Moneyfacts.
WORST YEAR ON RECORD' FOR ANNUITIES: Retirement annuity rates are suffering their worst year on record, making it even harder for people to secure a decent income, according to Moneyfacts.
Just as retirees can roll over their 401(k) plan account balance to an individual retirement account, they may also roll them over to an individual retirement annuity, leaving the selection of the IRA provider up to the participant.
From April 6, the 320,000 people who retire each year with a defined contribution (DC) pension will be able to take it as they choose, subject to their marginal rate of income tax in that year, rather than buying a retirement annuity.
His contract also includes $15,000 a year paid into a supplemental retirement annuity and a state car for both business and personal use.
The other policy one needs is a retirement annuity and with a premium of as much as you can afford up to the maximum deductible allowance for income tax purposes.
In addition, an employee may be required to make a deposit to the CSRDF for their military service to be credited toward a civil service retirement annuity.
Employees with prior federal civilian or military service can increase their retirement annuity by obtaining credit for that service.
THE GUARANTEES of this article's retirement annuity have not been explicitly studied, so no opinion is herein offered regarding whether or not there are some contractual provisions that would modify or constrain the above described annuity's values if the insurer failed.
The basic requirement for a regular employee retirement annuity is 120 months (10 years) of creditable railroad service (or five years, if the five years are performed after 1995).