Summary Description
Definition Document that must be provided each year, by a SIMPLE IRA trustee/custodian (financial institution), to the employer, containing the following information: Definition Document that
401K
A tax-deferred employer-provided retirement savings account, to which eligible employees may defer part of their salary. Salary deferral can be pre-tax or post-tax include Roth 401(k)s.
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Straight Life Annuity
Definition Annuity payment method used under an annual benefit payment from a defined benefit plan. Under this option, an annuity income stream is paid to
Standardized Plans
Definition A Master&Prototype( M&P) plan that meets requirements that include the following: The provisions governing eligibility and participation are such that the plan by its
Safe Harbor 403(b) Plan
Definition Nongovermental 403(b) plans that make contributions in accordance with a safe-harbor formula, resulting in the plan not being subject to the ACP nondiscrimination testing.
Safe Harbor 401(k) Plan
Definition 401(k) plans that make contributions in accordance with a safe-harbor formula, resulting in the plan not being subject to the ACP and ADP nondiscrimination
Tax-Free compte d’épargne (TFSA)
Définition Un véhicule d’épargne qui permet aux Canadiens d’épargner pour des dépenses diverses d’une taxe sur la base de l’exemption. Le TFSA est à la
Truth-in-Lending Act
Definition Also known as Regulation Z, is a regulation that applies to qualified plans that regularly extends qualified plan loans more than 25 times (or
Technical Advice Memorandum
Definition A technical advice memorandum, or TAM, is guidance furnished by the Office of Chief Counsel upon the request of an IRS director or an
Tax sheltered annuity (TSA)
Definition Also referred to as a 403b annuity, a Tax Sheltered Annuity (TSA), is a retirement plan established by a nonprofit- tax-exempt organization as described under IRC §
Tax-Free Savings Account (TFSA) ( Canada)
Definition A savings vehicle which allows Canadian residents to save for miscellaneous expenses on a tax-free basis. The TFSA is available to all individuals regardless of
