Individual retirement annuity

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Individual Retirement Annuity

A structure similar to an individual retirement account, with the key difference being that the contributions invested are not actively managed. Individual retirement annuities have the same contribution limits and tax advantages as individual retirement accounts. The annuities are purchased from an insurance company and are invested according to some defined scheme.

Individual retirement annuity.

An individual retirement annuity is one type of individual retirement arrangement.

It resembles the better-known individual retirement account in most ways, such as annual contribution limits, catch-up provisions if you're 50 or older, and withdrawal requirements.

In addition, the two share a common acronym -- IRA -- and come in three varieties: traditional nondeductible, traditional deductible, and Roth.

The key difference between the two is that with an individual retirement account you may invest your contributions in any of the alternatives available through your account custodian. With an individual retirement annuity, your money goes into either a fixed or variable annuity offered by the insurance company you have chosen as custodian.

References in periodicals archive ?
403(b) plans, individual retirement annuities and accounts (IRAs) under Sec.
The life and pensions giant reported pre-tax profits of PS592m for the six months to June 30, boosted by acquisitions and the sharp rise in sales of individual retirement annuities.
Marketing efforts are focused primarily on this segment of the educator's market, where it offers individual retirement annuities, life insurance and personal lines property/casualty coverages.
Rationale for the 'AAA' ratings include TIAA's dominant market share in the higher education pension marketplace, position as a leading provider of individual retirement annuities and a very strong capital position on both an absolute and risk adjusted basis.
The types of plans that typically fall under the prohibited transactions rules include individual retirement accounts, individual retirement annuities, and qualified pension, profit-sharing, stock bonus and annuity plans.
The 'AAA' insurer financial strength rating of Teachers Insurance and Annuity Association (TIAA) is based on dominant market share in its core business of qualified individual retirement annuities for higher education professionals and the organization's continued solid operating performance, which is driven by its large size and low cost structure.
TIAA's has a dominant market share in its core business of qualified individual retirement annuities for higher education professionals.
Western National Life, which is a wholly-owned subsidiary of Western National Corporation (NYSE:WNH), is a leading provider of individual retirement annuities through financial institutions.
Western National Life, which is a wholly-owned subsidiary of Western National Corporation (NYSE:WNH), is one of the 50 largest life insurance companies in the United States and a leading provider of individual retirement annuities through financial institutions.
Western National Life is one of the 50 largest life insurance companies in the United States and a leading provider of individual retirement annuities through financial institutions.

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