Insurers long in the business of tax-sheltered annuities
, and with strong administrative and compliance platforms, may use their expertise by helping sponsors ensure that individual contributions do not exceed annual maximums, especially if participants enroll in more than one plan.
Rollovers of Traditional IRAs to Tax-Sheltered Annuities
(Section 403b Plans)
The 15% excise tax applied to excess distributions from qualified retirement plans, tax-sheltered annuities
and individual retirement arrangements (IRAs).
Common types of retirement plans include individual retirement accounts (both Roth and regular), tax-sheltered annuities
(403(b) plans), qualified pension plans, 401 (k) plans, simplified employee plans (SEPs) and "Rabbi trusts.
These plans are also known as tax-sheltered annuities
, even though the term includes mutual funds and "incidental" life insurance.
The ING ReliaStar family of companies offers a comprehensive product portfolio, from term insurance to variable universal life insurance, 403(b) tax-sheltered annuities
for educators and other employees of non-profit organizations and 401(k)s.
Other exempt organizations that permit employees to purchase tax-sheltered annuities
without any direct employer involvement mistakenly believe they do not maintain employer-sponsored Sec.
The company is one of the nation's leading providers of term and universal life insurance, deferred and immediate annuities, and structured settlement and tax-sheltered annuities
The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) added section 414(v), raising--for individuals at least age 50 before the end of the plan year--the limits on elective deferrals for section 401(k) qualified CODA plans, 403(b) tax-sheltered annuities
, 408(k) SEPs, 408(p) SIMPLEs and 457 state or local government plans.
The companies in AGC's Retirement Services segment are recognized for their leadership position and excellent financial performance in the tax-sheltered annuities
market and strong opportunities for growth in the broader retirement savings industry when combined with their presence in the non-qualified bank-sold annuity market.
401(a)(31)-1T on the new directed rollover and withholding rules for distributions from qualified retirement plans and tax-sheltered annuities
In the Tax-Sheltered and Fixed Annuities segment, which primarily sells 403(b) tax-sheltered annuities
(TSAs) to K - 12 educators, first quarter operating income was down 13 percent.