A 408(k) is an employer-sponsored pension plan similar to a 401(k).
The plan is also called a simplified employee pension, which is a type of individual retirement account.
The 408(k) plan is available to companies with 25 or fewer employees and self-employed individuals who are subject to the same contribution limits as employers.
Only employer contributions are allowed in the 408(k) plan.
The IRS limits employers’ contributions to 408(k) plans for their employees.
Tax planning is an analysis of the financial situation or a plan that ensures that all elements work together and allows you to pay taxes as low as possible.
The 2,000 investor limit or rule is a key threshold for private businesses that are unwilling to disclose financial information for public consumption.
A Certified Retirement Planning Consultant is a person who has the status of a professional financial planner awarded by the College of Financial Planning.
A deferred annuity is an insurance contract that promises to pay the buyer a regular income or a lump sum of money some day in the future. In contrast, immediate annuities start paying immediately.