Elective Deferral Contribution
Definition Elective deferral contributions, also known as salary deferral contributions made to SIMPLE IRAs, 401(k) plans, SARSEPs, 403(b) plans . A participant may defer up
Retirement Savings Accounts
An account that holds assets that are earmarked for retirement. A retirement savings account can be qualified/tax-deferred or nonqualified.
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What is a 401(a) Plan? Find out here!
What is a 401(a) Plan? A 401(a) plan is a qualified retirement plan. The term “401(a) plan” is often used because that is the section
Employer Stock or Employer Securities
Definition Employer stocks or employer securities, refers to shares of stock, bonds or debentures issued by a corporation with interest coupons or in registered form.
Retirement Account (or Retirement Savings Account)
Definition An account that is established for the purpose of saving for retirement. Retirement accounts can include features such as: Tax-deferred growth on earnings Tax-free
Business Owner Ordered to Pay $38,500: Funds Stolen by Financial Advisor
The Employee Benefits Security Administration (EBSA) division of the Department of Labor (DOL), recently issued Release Number: 09-260-BOS/BOS 2009-093, in which they explained that the owner
Employee Stock Ownership Plan (ESOP)
Definition A defined contribution plan for which the primary investments are employer stocks (stocks of the employer that sponsors the plan). In order to be
Wealth Decumulation / Asset Decumulation (Retirement)
Definition Using one’s assets to finance one’s retirement. Retirement wealth decumulation includes the spend-down of assets owned during retirement. This includes: Savings in retirement accounts
Education Savings Account (ESA)
Definition These accounts are no longer called Education IRAs. Under S. 1190, the name was changed to Coverdell Education Savings Account (CESA) also called Education
Integrated plan
Definition An employer sponsored retirement plan for which contributions are allocated based on social security integration Referring Cite IRC § 401(l) , Treas Reg §
