Terms of Use An IRA is an Individual Retirement Account that provides several tax benefits . IRA accounts can be comprised of fixed income instruments, such as CDs/share certificates and bonds, and stocks and mutual funds, to name just a few options. The Traditional IRA enables individuals to save money in a tax-deferred account. What that means is that the earnings from your IRA account will not be taxed until you begin taking money out of the account. Traditional IRA Snapshot Contributions:   More...

Terms of Use: Table of Contents Single vs. Flexible-Payment Annuities Fixed vs. Variable Annuities Fixed and Variable Annuity Expenses Deferred vs. Immediate Annuities Withdrawing Money from a Deferred Annuity Why Buy a Deferred Annuity? Why Buy an Immediate Annuity? Options with Guarantees Before You Buy an Annuity Consider the Following Some Questions to Ask Before Buying Confused about annuities? You're not alone. Many people have difficulty understanding them. The main reason for all t  More...

Terms of Use The future of Social Security is in the spotlight these days. Social Security is primarily financed by payroll taxes. As long as people work, the system will never completely run out of money. However, Social Security is facing an uncertain financial future mainly due to demographics. We're living longer and healthier lives ... and this is good news. When the Social Security program was created in 1935, a 65-year-old had an average life expectancy of 12½ more years; today, i  More...

Terms of Use IRAs are a great way for you to save for the future. Your IRA can consist of a range of investments from savings accounts, stocks, bonds, and certificates of deposit or share certificates. You can contribute up to a certain limit each year into your IRA and if you're over 50, you are allowed an additional catch up contribution. The tax advantages of a Traditional or Roth IRA depend on your annual income and whether you are covered by your company's retirement plan. Below we   More...

Terms of Use What is a 403(b)? A 403(b) is an employer sponsored retirement savings plan that allows you to save pre-tax dollars for your retirement. A Roth 403(b) permits only after-tax contributions but allows you to diversify your tax risk by letting eligible participants make tax-free withdrawals after retirement. The IRS limits the amount you can contribute each year Participants can contribute up to $17,500 for 2013. This limit is applicable if you're under age 50 as of December 31st (re  More...

Terms of Use: There are a variety of pension plans offered by private sector employers today. This information offers an explanation of traditional defined benefit pension plans insured by Pension Benefit Guaranty Corporation (PBGC): what they are, how they operate, and the rights and options of the workers covered by them. Table of Contents Traditional Pension Plans Predictable, Secure Lifetime Benefits Trends Pension Plan Provisions Federal Insurance For Your Pension Pension Checklist Other Us  More...

Terms of Use: Generally yes , but there are situations where the IRS will waive the 10% early withdrawal penalty. Your un-reimbursed medical costs exceeds 7.5% of your income. There is a Qualified Domestic Relations Order (QDRO) from the courts that mandate funds from your account go to a former spouse, child, or dependent. You have elect a Section 72(t) retirement distribution. You are totally disabled. You’ve separated from service and were at least 55 years of age when you did so. You have di  More...

Terms of Use The earliest you can begin receiving Social Security benefits is age 62. However, beginning at age 62 decreases the amount of Social Security benefits you receive by 30%. The reduction for starting benefits at age 63 is about 25 percent; 64 is about 20 percent; 65 is about 13.3 percent; and 66 is about 6.7 percent. If you were born January 2, 1943, through January 1, 1955, your full retirement age for retirement insurance benefits is 66. If you work and are full retirement age or   More...

Terms of Use: No, contributions to a Roth IRA are not tax deductible. A Roth IRA allows you (if you do not exceed certain income limits) to invest money by making non-deductible contributions that grow tax-deferred.

Terms of Use: Yes, Roth IRA accounts are available on an individual basis, so long as you or your spouse are earning income and do not exceed the income limitations.