Across
- 3. This is a tax-deferred pension plan available to self-employed individuals or unincorporated businesses for retirement purposes.
- 5. This is when a participant must take withdrawals by age 72 for a qualified corporate plan
- 8. If an individual puts in too much money into their IRA, they will pay a _____ percent penalty
- 10. Margin account trading, short sales of stocks and selling uncovered call options are __________ IRA investment practices.
- 11. _______ equal periodic payments (72t) is one way to avoid the 10% IRS penalty if you are under 59 ½ . These payments must be taken monthly, for 5 years or until you reach 59 ½ , whichever is longer.
- 13. In a defined benefit plan, the amount of contribution is determined by the plan’s _________ agreement.
- 15. IRA contributions are ____ deductible if the investor is not covered by a qualified employer plan
- 16. Retirement plans are taxed at ______ income
- 18. The percent of withholding if proceeds are made to a former employee when the balance of their 401(k) plan is distributed to them.
- 20. In this type of plan, the employer contribution typically matches a portion of the employee contribution.
- 22. A ________ annuity is a type of investment vehicle that lets an employee make pretax contributions into a retirement account from income. A 403(b) plan is an example.
- 27. An __________ is the contribution made to any designated retirement or investment account after taxes have already been deducted from an individual's or company’s taxable income
- 28. This is a type of individual retirement account that allows qualified withdrawals on a tax-free basis provided certain conditions are satisfied.
- 31. The biggest distinction between traditional IRAs and Roth IRAs is how they are _______.
- 32. An individual who is 50 years or older can contribute up to $1000 more in their IRA. This is known as a _________ provision
- 34. This defines when an employee accrues nonforfeitable rights over employer-provided stock incentives or employer contributions made to the employee's qualified retirement plan account or pension plan.
- 35. A qualified plan ______ discriminate
- 38. The intention of using this type of Individual Retirement Account (IRA) is to store assets until they can be rolled over into a new employer's qualified plan
- 39. As long as an individual has held a ROTH IRA account for 5 years and has reached the age of 59 ½ , their withdrawals can be _________.
- 43. Contributions on nonqualified plans are not tax ______.
- 45. A defined _______ plan is a retirement plan that's typically tax-deferred in which employees contribute a fixed amount or a percentage of their paychecks to an account that is intended to fund their retirements.
- 47. A ______ is an individual retirement account (IRA) that an employer or a self-employed person can establish.
- 50. Contributions to SEP can be up to ________ % of employee’s salary, up to an indexed maximum.
- 51. This occurs when an IRA account owner takes temporary ownership of the IRA funds when moving the account to another custodian
- 53. A nonqualified ________ compensation plan allows a service provider (e.g., an employee) to earn wages, bonuses, or other compensation in one year but receive the earnings in a later year. Doing this provides income in the future (often after they've left the workforce) and may reduce the tax payable on the income if the person is in a lower tax bracket when the compensation is received.
- 54. is an employee retirement benefit plan that resembles a corporate profit-sharing program. It requires the employer to deposit a set percentage of the participating employee's salary in the account every year. The employee is not permitted to contribute to the fund but may choose how to invest the money based on options offered by the employer.
- 55. With a deferred compensation plan, an employee may not receive the deferred income if the company goes bankrupt. Instead, the employee will become a ___________.
Down
- 1. A ________ plan is a type of tax-deferred, employer-sponsored retirement plan that falls outside of Employee Retirement Income Security Act (ERISA) guidelines. These plans are funded with after-tax money.
- 2. A defined ________ is an employer-sponsored retirement plan where employee benefits are computed using a formula that considers several factors, such as length of employment and salary history.
- 4. This occurs when an IRA account assets is sent directly from one custodian to another.
- 6. This is a retirement account for certain employees of public schools and tax-exempt organizations.
- 7. A _________ is any contribution made to a designated pension plan, retirement account, or another tax-deferred investment vehicle for which the contribution is made before federal and municipal taxes are deducted
- 8. A _______ is a type of deferred compensation plan that is offered to state and local government employees.
- 9. A individual takes a withdrawal before 59 1/2 , what is the IRS penalty if there are no exceptions taken
- 12. The number of transfers allowed during any 12-month period
- 14. A rollover can occur ______ per any 365-day period
- 17. If an individual is covered by a qualified employer plan, their IRA contributions are only deductible if the taxpayer’s _____ falls within established income guidelines.
- 19. A _____ IRA allows individuals to direct pre-tax income toward investments that can grow tax-deferred and in most cases, contributions to traditional IRAs are tax-deductible.
- 21. Rollovers must be completed within _____ days in order to retain tax-deferred status
- 23. Deferred compensation plans usually benefit _____ compensated employees who are close to retirement.
- 24. This is when a participant must take withdrawals by age 72 on an IRA or SEP
- 25. Under an ERISA covered plan, employees must be treated impartially. This is called _______
- 26. Whom assumes the risk with a defined benefit plan
- 29. The rules regarding who may be covered in a retirement plan are stated in this ERISA section
- 30. To receive employee death benefits, ______________ must be named.
- 33. Whom assumes the risk with a defined contribution plan
- 36. This refers to investment earnings such as interest, dividends, or capital gains that accumulate tax-free until the investor takes constructive receipt of the profits.
- 37. If a required minimum distribution is not taken out, there will be a ________ % IRS penalty. It is applicable on the amount that should have been withdrawn.
- 40. A _______ retirement plan meets IRS requirements and offers certain tax benefits. These plans are funded with pretax money.
- 41. is a retirement plan that gives employees a share in the profits of a company.
- 42. A charitable ______ organization would most likely use a 403(b) plan for its employees
- 44. This was created I 1974 and was intended to protect workers’ retirement income and provide a measure of information and transparency.
- 46. An employer may _____ contributions to profit-sharing plans in unprofitable years.
- 48. The _______ is responsible for managing a company’s defined benefit plan’s investment
- 49. A ______ purchase plan is a company-run program in which participating employees can purchase company stock at a discounted price. Employees contribute to the plan through payroll deductions which build up between the offering date and the purchase date.
- 52. These employees are favored on a defined contribution plan