Types of Retirement Plans

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A retirement plan that allows you to save money and defer taxes until you retire or pay taxes now and not when you retire.

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Individual Retirement Account (IRA), IRA, Individual Retirement Account

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A qualified employer-established retirement plan to which eligible employees may make salary deferral contributions on a post-tax and or pre-tax basis with possible employer matching.

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401(k) Plan

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A retirement plan under US law that is generally not taxed, provided certain conditions are met.

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Roth IRA, Roth

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A retirement plan that gives employees a share in the profits of a company which gives employees a sense of ownership in the company.

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Profit Sharing

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A contractual financial product sold by financial institutions that is designed to accept and grow funds from an individual and then pay out a stream of payments to the individual at a later point in time usually upon retirement typically for the rest of their life.

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Annuity

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A retirement plan that requires an employer to make contributions into a pool of funds set aside for a worker's future benefit which is invested on the employee's behalf to generate income to the worker upon retirement.

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Pension