A retirement plan, not necessarily an annuity, for employees of non-profit organizations, such as schools and churches. Those who qualify can elect to have a specific percentage of their income set aside for retirement and delay income taxes until the money is withdrawn. Sometimes called tax-sheltered annuity or TSA.
Annuities available for purchase by employees of certain non-profit and public education institutions as described in IRC §501(c)(3). Money used to purchase the annuity is not taxable as income until annuity payments begin, usually at retirement. Also known as a Tax-Sheltered Annuity (TSA).
a contract between you and an insurance company for a guaranteed interest-bearing account with guaranteed annuity income options
a contract between you and the insurance company with guaranteed interest and guaranteed annuity income options
a contract for people who want to save on a tax-deferred basis for many years, and then convert to a payout schedule once they retire
an interest-earning Annuity set up with an insurance company
a type of investment that allows you to postpone (but not eliminate) taxes on earnings
a way to save additional money for retirement while at the same time deferring income taxes on the monies saved
An investment vehicle generally used to create income for retirement. Pretax dollars are invested by an employer for an employee to provide a future stream of income to the employee for either a fixed number of years, or for life. Federal income tax on the pretax dollars invested and on the interest they earn is postponed until the retirement income is received.... read full article
an insurance product for employees of certain not-for-profit organizations to elect to defer compensation in a qualified retirement plan.
An annuity that offers the same tax deferral benefits as a non-deductible IRA account. This is offered without the $2,000 contribution limit, without the mandatory withdrawal requirements at age 70 1/2, and without all of the record-keeping and reporting requirements associated with IRA's.
A tax-favored plan that permits an employee of a qualifying organization to enter into an agreement with his or her employer to have a portion of his or her earnings set aside for retirement. Income tax is deferred on the contributions, provided the amounts are used to purchase an annuity contract or regulated investment company's shares, as well as the interest and earnings. Contribution amounts are limited by tax law and taxes are due on all contributions and interest and earnings upon withdrawal or when annuity payments begin, usually at retirement.
A program available to employees of certain public school systems and nonprofit organizations. An annuity is purchased with a part of the employee's income which is excluded from current taxation. Taxes are paid by the employee when he or she begins to draw the annuity. Also called tax-sheltered annuity. Mutual funds can also be used for TDA custodial accounts.
An investment that postpones (but doesn't eliminate) taxes on earnings until they are withdrawn, usually for retirement. A fixed annuity pays a set amount at regular intervals. Payouts from variable annuities change, because they depend on the success of the investments that make up the annuity.