Investing to Retire
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| 401(k) Plan | a type of employer-sponsored retirement plan in which money is contributed on a pre-tax basis and all earnings are tax deferred
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| Annuity | an investment contract made with an issuer; types include immediate, deferred, fixed, and variable
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| Defined-Benefit Plan | a type of retirement plan, usually a pension, in which the payment amount is guaranteed
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| Defined-Contribution Plan | a type of retirement plan in which the amount invested in the plan is controlled by the employee, with no guarantee of benefits
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| Employer-Sponsored Retirement Plan | a savings plan for retirement that is offered through a company’s benefits package; contributions are usually matched by the company
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| IRA | a type of retirement savings plan that is not usually done through an employer
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| Koegh Plan | a retirement savings plan for self-employed professionals or owners of small businesses
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| Pension | a fixed sum paid regularly by an employer to an employee after retirement
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| Retirement | permanent withdrawal from the workforce
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| Roth IRA | a type of IRA that is not tax deductible but may not be subject to income tax upon withdrawal
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| Social Security | a United States government program established in 1935 that includes a retirement benefit for citizens; it is funded by payroll taxes
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