412(i)
A plan organized under Section 412(i) of the Internal Revenue Code (IRC) is a defined benefit plan that is funded exclusively with insurance company annuity contracts or a combination of annuity contracts and life insurance policies. Great for self employed professionals.

SEP IRA
A type of retirement plan that an employer can establish, including self-employed individuals. The employer is allowed a tax deduction for contributions made to the SEP Plan. The employer makes contributions to each eligible employee's SEP IRA on a discretionary basis.

IRA
An investment account in which a person can set aside income up to a specified amount each year and usually deduct the contributions from taxable income, with the contributions and interest being tax-deferred until retirement.

Roth IRA
An individual retirement account in which a person can set aside after-tax income up to a specified amount each year. Earnings on the account are tax-free, and tax-free withdrawals may be made after age 591/2.

403(b)
A retirement plan available to employees of qualifying non-profit organizations, featuring tax-deferred contributions and growth.

Annuities
A contract sold by an insurance company designed to provide payments to the holder at specified intervals, usually after retirement.

Deferred Compensation
Compensation that is being earned but not received, a process that defers the taxes on the compensation until it is actually received at a later date. Deferred compensation includes various plans, some being pensions, profit-sharing, and stock options.

Please call our Benefit Planning specialist to find out what product has been designed to achieve your financial goals at 1.800.864.3651.