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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. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| These accounts are also known as Individual Retirement Arrangements or Individual Retirement Annuity. 408(b) individual retirement annuity or with respect to the exemption from tax of an organization forming part of such a plan or account, and any document issued by the IRS dealing with such qualification or exemption, must be open to public inspection and copying, on written request. An individual retirement annuity -- Some people choose to buy annuities with their retirement money, which can also defer taxes. |
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