Spousal IRA
Definition An IRA established by a nonworking spouse ( or spouse who has little or no eligible compensation for IRA purposes) to receive a contribution
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.
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Safe Harbor 403(b) Plan
Definition Nongovermental 403(b) plans that make contributions in accordance with a safe-harbor formula, resulting in the plan not being subject to the ACP nondiscrimination testing.
Safe Harbor 401(k) Plan
Definition 401(k) plans that make contributions in accordance with a safe-harbor formula, resulting in the plan not being subject to the ACP and ADP nondiscrimination
Tax-Free compte d’épargne (TFSA)
Définition Un véhicule d’épargne qui permet aux Canadiens d’épargner pour des dépenses diverses d’une taxe sur la base de l’exemption. Le TFSA est à la
Truth-in-Lending Act
Definition Also known as Regulation Z, is a regulation that applies to qualified plans that regularly extends qualified plan loans more than 25 times (or
Trustee-to-trustee transfer
Definition From a technical perspective, trustee-to-trustee-transfers means that the assets are paid to the receiving retirement custodian, trustee or other approved recipient. Within the retirement
Traditional IRA
Definition A retirement savings vehicle established and funded by the individual owner, wherein earnings accrue on a tax-deferred basis and distributions are treated as ordinary
Technical Advice Memorandum
Definition A technical advice memorandum, or TAM, is guidance furnished by the Office of Chief Counsel upon the request of an IRS director or an
Tax sheltered annuity (TSA)
Definition Also referred to as a 403b annuity, a Tax Sheltered Annuity (TSA), is a retirement plan established by a nonprofit- tax-exempt organization as described under IRC §
Tax-Free Savings Account (TFSA) ( Canada)
Definition A savings vehicle which allows Canadian residents to save for miscellaneous expenses on a tax-free basis. The TFSA is available to all individuals regardless of
