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March 27, 2012

Most Americans Not Using IRAs


“March 26, 2012 — Only 22% of Americans say they are saving for retirement by contributing to an individual retirement account (IRA), according to a survey released by TIAA-CREF. —

The research, which polled 1,007 adults age s 18 years and older nationwide, found only about four in 10 (38% ) Americans who own an IRA are contributing up to the annual limit, and 55% are investing less than the maximum allowed amount each year. Seventy-six percent of those polled say they are not currently contributing to an IRA” Read more here



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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

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

Salary Deferral Contribution

Definition A contribution made pursuant to a participant’s election to have a portion of his/her salary/wages  contributed to his/ her employer sponsored plan  rather than

Key Employee

Definition An employee who, at any time during the plan year, is (i) an officer of the employer having an annual compensation greater than $180,000,

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