Retirement Annuity


Also found in: Dictionary, Thesaurus, Medical.

Retirement Annuity

An annuity one purchases to provide for oneself in retirement. In general, one purchases a retirement annuity well before retirement and makes contributions to it throughout one's working life. The contributions are invested on behalf of the annuitant, who begins to receive payments from the annuity after retirement. Many retirement annuities (especially those sponsored by an employer) are tax-deferred, meaning that the annuitant does not pay taxes on the funds in the pension until he/she begins making withdrawals. Annuities may have defined contributions, defined benefits, or both. See also: 401(k), IRA.
References in periodicals archive ?
Unfortunately, if you pay into a personal pension plan in the same year as you contribute to a retirement annuity contract, you are then limited to personal pension rules for both plans and as such the earnings are capped.
annuitisation), the amendments for pension funds and retirement annuity funds will continue as previously legislated.
It is now a requirement that a retirement annuity fund must be registered in Namibia under the Pension Funds Act of 1956.
The Fidelity Personal Retirement Annuity provides them with an additional option to save in a tax-efficient way.
The new annuity calculator that is part of EBIS will allow employees to perform "what-if " scenarios concerning their retirement annuity, high3 average salary, TSP annuity, TSP projected account balance, and so on.
In another situation, Husband established an individual retirement account and an individual retirement annuity (IRAs).
This law already applies to all pension fund and retirement annuity fund members, but will now be extended to members of provident funds.
Situation 2: Husband H established an individual retirement account and an individual retirement annuity (IRAS).
Fitch views TIAA's predictable book of straight forward retirement annuity liabilities as a strength in that it provides the company with considerable financial flexibility.
They are no longer required to use the pot to buy a retirement annuity.
As per the reports, the Coastal Educational Foundation board has agreed to fund a retirement annuity up to $1 million for CCU president Dave DeCenzo.
rule applies to each separate individual retirement account, individual retirement annuity, or retirement bond maintained by an individual.