retirement savings account


Also found in: Thesaurus, Acronyms, Wikipedia.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.retirement savings 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from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments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 ?
aspx#) millennials  invest in the stock market through either a retirement savings account or a standard brokerage account.
Similar to a retirement savings account, a 401Play VSA helps employees save for recreation through post-tax payroll deductions that are loaded directly onto a BlazePays card.
With the stock market hovering near historical highs a full eight years into the bull market, 50% of nonretired Americans expect their 401(k) or other retirement savings account to be a major source of income in their golden years.
Having some cash ready for unexpected situations will help you avoid expensive and unwise alternatives like living off credit cards, being forced to sell investments at an inopportune time, or withdrawing money from a retirement savings account, which often results in having to pay early withdrawal penalties.
Now it's easier than ever for savers to use their federal tax refunds to save for their futures with a new retirement savings account called myRA (http://Tusa.
Funds in a permanent life insurance policy can double as a retirement savings account, but without the worry about what future tax rates will be.
Workers without access to a plan at work rarely save for retirement: Fewer than 10% of workers without access to a workplace plan contribute to a retirement savings account on their own.
MyRA, the new retirement savings account intended for people with taxable compensation income but who lack access to an employer-sponsored retirement plan, was launched nationwide in November with an announcement by Treasury Secretary Jack Lew.
An individual with present-biased preferences might express willingness to invest a tax refund she will receive in six months in a retirement savings account, for example, but when the refund arrives she will prefer not to do so, even though nothing has changed except the passage of time.
For example, the program will support the launch of the Personal Equity and Retirement Account, a long-term, tax-deferred personal retirement savings account.
People often fall into a trap when they look at their 401(k) retirement savings account balances.
The Illinois Secure Choice Savings Program Act creates the nation's first state-sponsored, automatic enrollment, Roth IRA (Individual Retirement Account) program for private sector employees who have no employer-sponsored retirement savings account program available to them.

Full browser ?