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April 16, 2009

403(a) Annuity Plan



A qualified retirement plan that is invested in annuities. Often referred to as a qualified annuity plan.
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Additional Helpful Information
If an annuity contract is purchased by an employer for an employee under a qualified annuity retirement plan that satisfies the deduction rules that apply to qualified plans, the amount actually distributed to any distributee under the contract is taxable to the distributee in the year that the distribution occurs. This rule applies whether or not the employer deducts the amounts paid for the contract under the plan.

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Qualified Charitable Distribution (QCD)

Definition A distribution that is excludable from the distributee’s income, as a result of meeting the following requirements: It is made after the distributee reaches

Saver’s Credit

Definition Also known as the Saver’s Tax Credit: Nonrefundable tax credit available to eligible individuals who make contributions to their retirement account. The saver’s credit

Catch-up Contribution

Definition An additional contribution that can be made to a retirement plan by a participant who is at least age-50 by the end of the

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IRA Rules