Retirement Savings Accounts
An account that holds assets that are earmarked for retirement. A retirement savings account can be qualified/tax-deferred or nonqualified.
Definition An employer sponsored qualified-plan, where employee benefits are intended to be predetermined and guaranteed. Typically, a participant is promised a monthly benefit upon retirement.
Coverdell Education Savings Account (CESA). Also know as Education IRA and 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