IRA
Individual retirement accounts include traditional IRAs, Roth IRAs, SIMPLE IRAs and SEP IRAs. Traditional and Roth IRAs are funded by the individual owner. SEP IRAs are funded by employers. SIMPLE IRAs are generally funded by employers and employees. Special tax rules apply to these accounts.
Explore
Involuntary cash-out
Definition An involuntary distribution of a participant’s balance or $5,000 or less, under a qualified plan, 403(b) or 457(b) plan, which occurs when the participant
Guardian IRA
Definition Guardian IRA- also know as Minor IRA. IRA established and maintained on behalf of an individual who is defined as a minor under state
First-Time Homebuyer Distribution
Definition A distribution from an IRA used by a first-time homebuyer to buy, build, or rebuild a first home or first-time home. A first-time homebuyer
Financial disclosure
Definition Explanation that must be provided to IRA owners when the IRA is established, regarding the performance of the investments in their IRAs. Under these
Fair Market Value (FMV)
Definition The market value of a retirement account as of a particular date. In general, the fair market value of a plan’s assets is the
Extended IRA
Definition Also referred to as Stretch IRA® or Multi-Generational IRA (The term Stretch IRA® is copyrighted by Wealth Advisory Group. Used with Permission) Term used