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Retirement Planning

Vested

It means that after a certain period of time, you will have full rights to those contributions and any earnings they have accrued.

Understanding the concept of vesting is crucial for any individual enrolled in a retirement savings plan. Put simply, vesting signifies the gradual transfer of control over contributions made by your employer. This process grants you full ownership of the contributions and their earnings after a specific period of time has elapsed. As a participant, it is essential to keep track of your vesting schedule to make informed decisions about your retirement funds.

Tax-Deferred

Tax deferral refers to the delay of taxes and often the initial investment, until the funds are disbursed. This strategy is commonly used in retirement planning, allowing in...

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Simplified Employee Pension Plan (SEP)

Welcome to our lesson on Simplified Employee Pension (SEP) plans. These retirement plans are specifically designed for small business owners and self-employed individuals. T...

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Term Certain Payment Option

An annuitant may choose from various options for payment, including the term certain option. With this selection, payments will continue for the minimum of either the number...

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Contribution Percentage Definition

A contribution percentage is a crucial aspect of your workplace retirement plan. It involves deciding how much of your paycheck you want to put towards tax-deferred contribu...

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