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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.




that part of NATIONAL INCOME not spent by households on the CONSUMPTION of domestically produced goods and services. In the basic CIRCULAR FLOW OF NATIONAL INCOME MODEL, all the income received by households is spent on current consumption. In the extended circular flow of income model, some of the income received by households is saved, some of it is taxed and some of it is spent on imported goods and services. Thus, SAVINGS, TAXATION and IMPORTS constitute withdrawals or leakages from the income-spending flow. Compare INJECTIONS. See also PROPENSITY TO SAVE, PROPENSITY TO TAXATION, PROPENSITY TO IMPORT.
References in periodicals archive ?
I'll say it another way: A 4 percent withdrawal rate is always possible, because no matter the dollar amount of the withdrawals, one can always take 4 percent per year out of the account.
AIG SunAmerica added a 7% annual retirement income bonus option to its Market-Lock for Life Plus withdrawal benefit.
DES MOINES, Iowa, May 1 /PRNewswire-FirstCall/ -- ING Fixed Annuities has introduced the ING IncomeProtector Withdrawal Benefit, an ING USA fixed-index annuity rider that provides an optional guaranteed stream of payments for life, according to a company announcement this week.
If the signatures on the withdrawals hold up and match those on protests, the annexation, preliminarily approved by LAFCO, would be approved.
Withdrawals by family members: If individuals have a spouse, parents, grandparents, children or grandchildren living in another part of the U.
Payroll software tracks loans and hardship withdrawals automatically, as does most pension software, but the employer can't assume that someone somewhere is keeping an eye on things.
six direct withdrawal tests were performed with one specimen block: two end-grain withdrawals, two face-grain withdrawals, and two edge-grain withdrawals (Fig.
New fixed-amount postal savings, known as "teigaku" savings, fell short of withdrawals by 378.
Provider Product Contact Number Gross Rate Withdrawal Restrictions Withdrawal Notice
Finally, if funds are withdrawn before five years from the date of the first contribution, the earnings on these funds are subject to regular income taxes and will be assessed the 10 percent penalty for early withdrawals.
If it's below the prevailing rates, the loan might be considered a disguised early distribution and could then be subject to the penalties for an early withdrawal.
In years a withdrawal in excess of the rider withdrawal amount is taken, the Monthiversary(SM) component of the automatic step-up feature will not apply.