retirement savings account


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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from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments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 ?
Each year, some proportion of each person's retirement savings account would be allocated to the purchase of SM bonds.
If the money is directed into a tax-deferred retirement savings account, the delay is not a problem.
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. Competition will be enhanced through increased participation by foreign financial institutions.
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.
Retirement savings account loans rose by 20% in 2011 across all demographics, according to the survey to be published in March.
The 401(k) is a type of retirement savings account in the United States.Country: USA, Sector: Business and Consumer ServicesTarget: Benefit Administrators LTD (FBA)Buyer: Lincoln Trust CompanyType: Corporate acquisitionStatus: Closed
In the first category, advocates, such as William Gale of the Brookings Institution, argue that existing tax deductions providing a relatively greater benefit for employees subject to a higher marginal tax rate should be replaced with a flat-rate refundable tax credit that will be deposited directly in the plan participant's retirement savings account. Under this proposal, contribution limits would not change, but employee and employer contributions that generate the credit would be taxable income to the employee.
A: PEOPLE who are unemployed are entitled to take out a Personal Retirement Savings Account.
Next, I'd recommend contributing at least 10% of your income to a retirement savings account. If you have extra money each month, feel free to start a college savings account for your children.

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