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A 403(b) is the retirement planning vehicle used by not-for-profit or other tax-exempt employers of nurses, doctors, teachers, professors, school personnel, researchers, clergy, and some ...
A fixed annuity is a long-term investment that provides a predictable income stream. Offered by insurance companies, banks and other financial institutions, it guarantees a fixed interest rate and ...
403(b) Plan. 401(k) Plan. Eligibility. Work for a nonprofit or government entity. Work for any private employer. Contribution Limits. $22,500 per year in 2023, plus an additional $3,000 per year ...
Different investment options: A 403(b) plan tends to have a more limited range of investment options, often restricted to annuities and mutual funds, while 401(k) plans usually offer a broader ...
American Fidelity Assurance (AFA) is an American private, family-owned life and health insurance company co-founded by C.W. and C.B. Cameron. It provides voluntary supplemental health insurance products (cancer, disability, life, and hospital indemnity) and tax-deferred annuities to education employees, auto dealerships, health care providers, and municipal workers across the United States.
E.D. Mich. 2001) Judge Spector held that the fixed-income annuity was not such a trust and could be reached by creditors. The variable account was held to fall within 541(c)(2) and was thus protected. [6] Under the revised bankruptcy laws, 403(b) accounts, IRAs, and other retirement accounts are, in general, protected from creditors in bankruptcy.
Here’s what you need to know about fixed annuities, their drawbacks and who should consider buying them.
Traditional fixed annuities pay interest on the premium contributed at a rate declared by the insurer in advance. Some traditional fixed annuities offer multiple years guaranteed at the same rate, while others will leave the insurance company with the ability to adjust the rate annually. This rate can never be less than the minimum guaranteed ...
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