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What type of annuity is a 401 K?
a 401K is a tax deferred qualified annuity similar to an IRA.
Is annuity income counted against social security income limits?
A regular annuity which is not a 401K is counted against social security income limits.
How can an unregistered agent sell a 401K group annuity?
Annuities are considered Life Insurance, so if the agent isn't selling a variable annuity, he doesn't have to be securities licensed.
Rollovers to a 401k plan from a flexible variable annuity?
The only accounts that can be rolled into a 401k plan are other old 401k plans. You can not co-mingle the accounts. Once you rollover a 401k to an IRA or Annuity, you forfeit the right to put the money back into another 401k plan. However, there is really no benefit to putting the money back into a 401k plan in the first place. The money you roll in isn't matched, and your investment choices are typically somewhat limited with an employer plan. For more information on 401k plans and Variable Annuities, please visit the attached link, eRollover.com
You lost money on an annuity account can you claim it as a loss?
If it is a tax preferred type account....oike in your IRA or 401k, no.
Why do you have to pay Federal Income Tax on an annuity you received after your father's death?
The money you receive from the annuity is income. All income is supposed to be reported and taxes paid on it.It depends upon where that money came from in your fathers estate. If this annuity came from your fathers annuity which was established from IRA or a 401K which had never paid taxes on -then the annuity now needs to pay the taxes.If the annuity came from life insurance then their is no taxes to pay. If the annuity came from prepaid tax money there would be no taxes to pay. etc.
How do ira rollovers into annuity funding accounts work?
There are two ways to do this. One way is through your employer. The other way is through an insurance company. Because you are changing jobs, you'll have to go through a insurance company and buy a annuity account from them. Then, you will have to go to Human Resources in your previous place of employment and do the necessary paperwork to transfer your 401k into that annuity account.
Can you rollover an IRA over into anything but another IRA?
Yes you can but you will have tax consequences. You placed this ? under annuities. You can roll your 401K or IRA into an annuity with no tax issues. And with current guarantees of 6% for the next 10 years why not?
Do you pay taxes on income earned in an annuity?
If the annuity is a non qualified tax deferred annuity (an annuity that taxes were paid on the money before they were placed into the annuity) you will pay taxes on any interest growth when it is removed from the annuity. If the annuity is a qualified annuity (no taxes were paid prior to placing the fund into the annuity) you will pay taxes on all withdrawals from the annuity.
What is the primary difference between an annuity and a compound annuity?
difference between an annuity and a compound annuity?Read more: What_is_the_primary_difference_between_an_annuity_and_a_compound_annuity
What gains more interest an ordinary annuity or an annuity due?
ordinary annuity
What is monthly annuity?
The option to get annuity every month is called monthly annuity.
