401K

Definition Program that allows homeowners, typically age 62 and older, to convert the equity in their home to income. Under a reverse mortgage program, the

Definition A revenue ruling is an official interpretation by the IRS of the Internal Revenue Code, related statutes, tax treaties and regulations. It is the

Definition A revenue procedure is an official statement of a procedure that affects the rights or duties of taxpayers or other members of the public

Definition The shrinking in value of retirement asset , resulting in the reduction of amount available for retirement wealth decumulation. Wealth evaporation usually occurs as

Definition Qualified Plans A payment that is made to restore losses to a retirement plan, where the loss is as a result from actions by

Definition The party who will receive the remaining principal of a trust, when the principal beneficiary dies . For example: A’s trust is designed to

Definition Businesses that share common ownership. Depending on the percentage of ownership, companies under a controlled group ( common control) must be treated as one company

Definition A regulation is issued by the Internal Revenue Service and Treasury Department to provide guidance for new legislation or to address issues that arise

Definition A document that must be provided to participants of qualified pans; providing explanations of their rights, benefits, and responsibilities under the plan.  SPDs must

Definition Document that must be provided each year, by a SIMPLE IRA trustee/custodian (financial institution), to the employer, containing the following information: Definition Document that