412(i) Retirement Plans: A Comprehensive Overview
A 412i is a defined benefit retirement plan that has been around since 1974. A well-structured 412i plan will incorporate both life insurance and annuities, with the majority of the contributions going to the annuities. Contributions are generally 100 percent tax-deductible and used to fund the ongoing premiums to the insurance company that will pay the guaranteed benefit.
This plan is ideal for the self-employed or for a small business with 6 or fewer employees. Older investors who failed to save for retirement during their early working years will find the plan an ideal way to catch up and build wealth for future income.
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529 College Savings Plans: Potential Drawbacks & Considerations
Americans have been slow to embrace 529 college savings plans, which were introduced in the mid-1990s. Just 20 percent of American parents have saved or are planning to save for their own or their ch
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Understanding Chapter 13 Bankruptcy Repayment Plans | [Law Firm Name]
If you opt for a Chapter 13 bankruptcy, the bankruptcy court will expect you to stick to a court-ordered repayment plan for a period of up to five years. Each month, you will have to submit a pa
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Pension vs. 403(b): Understanding Retirement Plan Differences
Both pension plans and 403(b) plans are tax-advantaged retirement plans designed to benefit workers. The structure of these two financial products are very different. Pension plans are more traditiona...
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529 College Savings Plans: Potential Drawbacks & ConsiderationsAmericans have been slow to embrace 529 college savings plans, which were introduced in the mid-1990s. Just 20 percent of American parents have saved or are planning to save for their own or their ch...