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What type of retirement account established by the taxpayer relief act of 1997?
roth ira
What type retirement account was established by the taxpayer relief act of 1997?
roth ira
What type of retirement account was established by the tax payer relief actof 1997?
The Taxpayer Relief Act of 1997 established the Roth IRA (Individual Retirement Account). This type of retirement account allows individuals to contribute after-tax income, and qualified withdrawals during retirement are tax-free. The act aimed to encourage savings for retirement by providing tax advantages to individuals. Additionally, it introduced features like the ability to withdraw contributions without penalty, making it more flexible for account holders.
How can I earn the most on my retirement savings?
The first strategy is to start as early as you can to save for retirement. Once you've established an account make regular systematic deposits.
What does the term SEP- IRA mean?
The term SEP IRA stands for Simplified Employee Pension Individual Retirement Account. It is a retirement plan that is established by the employer or employee.
What type of retirement account is generally establish to help individuals meet long term goals?
annuity
Is an IRA a qualified plan?
An IRA is an Individual Retirement Account. It is not a qualified plan, because it is established by an individual rather than a business.
How does IRA rollover work for retirement investment?
An IRA rollover for my retirement is just switching your account from work to retirement account.
Is the sole beneficiary of a will entitled to the deceased persons retirement?
It depends on the terms outlined in the deceased person's will and retirement account. If the sole beneficiary is named as the beneficiary in the retirement account documentation, then they may be entitled to receive the funds. However, if there are specific instructions in the will regarding the distribution of the retirement account, those would generally take precedence.
How do you open a closed bank account?
You would need to go in and talk to someone at the bank. The account generally can not be re-opened and a new account would have to be established
VALIC How do you get money from your retirement account?
i would like to withdraw money from my retirement account with valic, what is the procedure on how to do this?
How do I know if I have a retirement account?
You can know if you have a retirement account by checking your financial statements or contacting your employer or financial institution to inquire about any retirement accounts in your name.
