Withdrawal


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Related to Withdrawal: withdrawal method, Withdrawal syndrome, alcohol withdrawal

Withdrawal

A transaction in which a customer receives back money he/she had previously deposited at a bank, pension, or trust. When one makes a withdrawal on a pension or similar plan, it may carry a penalty depending on the pension's rules. For example, one must usually be of a certain age in order to make a withdrawal. There is rarely such a penalty when making a withdrawal from a bank. For instance, when one closes an account, the client makes a withdrawal on all the money he/she owns at that bank.

Withdrawal.

A withdrawal is money you take out of your banking, brokerage firm, or other accounts.

If you withdraw from tax-deferred retirement accounts before you turn 59 1/2, you may owe a 10% early withdrawal penalty plus any income tax that's due on the amount you've taken out.

In everyday usage, the term withdrawal is used interchangeably with distribution to describe money you take from your tax-deferred accounts, though distribution is actually the correct term.

References in periodicals archive ?
When drawing income from a portfolio using systematic withdrawals, proper asset selection is critical.
ABOUT WITHDRAWAL EASE Withdrawal Ease is a nutritional supplement designed to help ease the pain of withdrawal.
If a subscriber does not request for withdrawal even after turning 70, the money in the NPS account will be automatically credited to his bank account.
Direct staple withdrawal is one joint failure mode encountered in furniture performance tests of plywood frames.
Diagnosis and treatment are challenging because protracted withdrawal can mimic other psychiatric disorders.
Former Head of the Israeli National Security Council General Giora Eiland, meanwhile, criticized Israel's support for a Syrian withdrawal from Lebanon, ASHARQ AL AWSAT reported Wednesday.
Old Mutual Financial Network introduced OM Income Advantage, which offers up to two 10-year accumulation periods currently offering 4% or 6% roll-ups, the ability to restart a roll-up period, and the flexibility to stop and start income payments at any time during the withdrawal period.
they may be able to borrow or take a hardship withdrawal from their retirement plans to help.
If withdrawal is done correctly, about 60% of the patients with chronic conditions get better and stay better for years," Dr.
Having hit bottom, Jeff sought help at a chemical dependency treatment facility that uses group therapy along with sedatives, blood pressure medicine, and antidepressants to ease withdrawal.
Representative Dennis Kucinich has also been outspoken in advocating withdrawal.
Forty-six percent would use over-the-counter methods, 18% would go to a private doctor for prescription birth control, 13% would use rhythm or withdrawal, and 6% would have unprotected sex (multiple responses were allowed).