Rollover Individual Retirement Account
Definition of "Rollover individual retirement account"
Individual retirement account (IRA) established to receive distribution of assets from a qualified pension or retirement plan. For example, if employees resign from their jobs and receive a lump sum distribution of $75,000, they may roll it over into an IRA without paying taxes. Rollover IRAs are governed by the same tax rules as other IRAs. They provide a way to maintain the tax-deferred status of distributions from pensions or other qualified plans until an age specified by law, when withdrawals must begin.
Popular Insurance Terms
Model state law of the NAIC that stipulates that the contract owner must receive annual reports concerning the annuity unit values, the manner in which the variable benefits are calculated, ...
Proportion of a premium allocated to pay losses, which is equivalent to (1.00 - expense ratio). ...
Individual (s) entitled to receive the income generated by the trust. ...
Plan that provides protection in the event of legal actions resulting from charges of harassment, discrimination, wrongful termination of employment, defamation, and invasion of privacy. ...
Person for whom the trust was created and who receives the benefits thereof. In many instances a trust is established to prevent the careless exhaustion of an estate. For example, the ...
Right of survivors to the interest in property of a deceased joint tenant as the result of property held in joint tenancy. ...
Coverage that provides monthly income payments for as long as an insured remains disabled. The insurance policy defines the nature of the disability it covers. Most policies discontinue ...
What is SSDI? It is a form of financial aid for people living with a disability that impacts their quality of life. As one of the largest Federal programs designed to provide assistance to ...
basic feature of the social security act under which benefits paid are associated with the employee's earnings that have been taxed during the employment period. ...
Have a question or comment?
We're here to help.