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from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments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
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
References in periodicals archive ?
Officials added a retirement incentive in the contract allowing employees who are Teachers' Retirement System (TRS) eligible to receive $600 annually for each year of service as a contribution into a health retirement annuity.
If the insured then outlives the policy maturity date, he collects the proceeds and could spend it on a retirement annuity or anything of his choice.
A 65-YEAR.OLD buying a retirement annuity now could potentially generate an income over PS800 higher than if they had purchased a deal two years ago, analysis has found.
As the economy entered a major recession in 2008, the traditional DOD retirement annuity seemed even more important as it was largely immune from economic downturn.
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.co.uk.
QI have a section 226 retirement annuity contract and I understand these policies may carry a valuable guaranteed annuity rate.
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.
They no longer have to buy a retirement annuity and can take cash out all in one go if they want to, or withdraw the money in slices, subject to their marginal rate of income tax.
The new rules mean the 320,000 people who retire each year with a defined contribution (DC) pension are no longer required to use their pension pot to buy a retirement annuity, which gives a guaranteed regular retirement income.
When people come to retire, they will no longer be required to use their pension pot to buy a retirement annuity. Instead, older savers will be able to access their pots how they wish, subject to their marginal rate of income tax.