Sentences with phrase «withdrawal benefit if»

Contract owners can benefit from upside portfolio potential while enjoying the protection of a guaranteed lifetime minimum withdrawal benefit if the portfolio drops in value.

Not exact matches

In addition to helping you save for retirement, the Vanguard Variable Annuity also can provide you with dependable cash flow during retirement if you choose the Guaranteed Lifetime Withdrawal Benefit rider.

Fixed index annuities (FIAs) provide the ability to earn interest and create a stream of lifetime income through annuity options or, if offered, a guaranteed lifetime withdrawal benefit (GLWB) rider, while being protected from market loss.

The expense ratio excludes additional fees that would apply if the Return of Premium death benefit rider or Secure Income (Guaranteed Lifetime Withdrawal Benefit) rider is ebenefit rider or Secure Income (Guaranteed Lifetime Withdrawal Benefit) rider is eBenefit) rider is elected.

As you determine if an annuity may be right for you, remember that they are intended as vehicles for long - term retirement planning, which is why withdrawals reduce an annuity's remaining death benefit, contract value, cash surrender value and future earnings.

If rates for savings accounts are similar or better than rates for money market accounts online, then the main benefit you gain with a money market account online is the ability to make ATM withdrawals and payments by check.

In the buildup to the politicking of the last 24 hours tensions were undoubtedly raised by Nick Clegg's departing adviser Richard Reeves, who threatened the withdrawal of Liberal Democrat support for boundary changes — which will benefit the Tories disproportionately — if, as has now transpired, Conservative MPs wreck Lords reform.

According to our figures (and I keep asking you to use the figures set out in the Liberal Democrat and Labour document not the figures given by the IFS who state they got their figures from these documents but actually give different figures) to reverse the cuts to Universal Credit cost # 3.665 billion and as I pointed out above these are the reductions in the amounts a person can keep before they start to lose their benefit, which were set much higher than the old benefits, but the withdrawal rate seemed to be higher with Universal Credit (65 % [reduced to 62 %] than with Tax Credit (41 % on gross income).

If rates for savings accounts are similar or better than rates for money market accounts online, then the main benefit you gain with a money market account online is the ability to make ATM withdrawals and payments by check.

As much as 85 % of your Social Security benefits could be taxable if you have other sources of income, such as earnings from work or withdrawals from tax - deferred retirement accounts.

Ideally, savings accounts are meant to see as few withdrawals as possible, so having limited access to your balance because of Synchrony's online - only system can actually be a benefit, if it keeps your savings safe from your own spending impulses.

Another huge benefit of a PenFed CD for retirees is that PenFed does not charge an early withdrawal penalty for early withdrawals from the CD if you're 59 1/2 or older; you just need to leave at least $ 1,000 in the CD to keep it open.

Also, in limited circumstances, even qualified withdrawals may be taxed depending on the expense the funds were used for, as well as if any other «tax - free educational benefits» (Coverdell ESAs, Hope / Lifetime Learning Scholarships, etc.) were used.

If a withdrawal taken before the end of the initial Indexed Option Period exceeds the greater of the RMD requirement or the 10 % free withdrawal benefit, the excess amount withdrawn will be subject to MVA.

The Personal Income Benefit feature is not appropriate if employees do not intend to take withdrawals prior to annuitization.

In analyzing the benefits of a possible Roth conversion, the proper tax rate comparison is between the lowest tax rate that may apply to a partial conversion and the highest tax rate that will apply to withdrawals if you don't convert.

If an employee requests a loan from the Personal Income Benefit account value, AXA will treat the loan request as an early or excess withdrawal, which may significantly reduce or eliminate the value of the Personal Income Benefit.

The Personal Income Benefit feature is not appropriate if you do not intend to take withdrawals prior to annuitization.

If an employee dies before starting Guaranteed Annual Withdrawal Amount payments, or if he or she started payments on a Single - Life basis, the beneficiary would receive the Personal Income Benefit account valuIf an employee dies before starting Guaranteed Annual Withdrawal Amount payments, or if he or she started payments on a Single - Life basis, the beneficiary would receive the Personal Income Benefit account valuif he or she started payments on a Single - Life basis, the beneficiary would receive the Personal Income Benefit account value.

In short, if you are concerned about the penalties imposed by retirement accounts on early withdrawals, forgo the benefits of these accounts and put your retirement money elsewhere where there is no penalty for instant access.

An HSA offers potential triple tax benefits.2 Your contributions can be made with pretax dollars so you reduce your current taxable income; earnings on the investments in an HSA are not taxed; and withdrawals are tax free if used to pay for HSA - qualified medical and health care expenses.

One way to answer that question is to see how long that $ 41,918, plus future investment earnings on it, would last if you withdrew just enough each year so that the withdrawal plus your lower Social Security payment would match the higher full - age benefit.

If that is the case then you aren't getting as much benefit from the RRSP since the tax you pay on the withdrawal might be the same or even higher than the tax you deferred when you contributed.

This is similar to a defined benefit pension in that if this money puts you at a reasonably high tax rate then any RRSP withdrawals will be taxed at a high rate and you lose part of the benefits of the RRSP.

If there is a benefit from deferral then that benefit must increase with time, but... (i) The only way to explain the penalty from a higher withdrawal tax rate would be if time moved backwards - unlikelIf there is a benefit from deferral then that benefit must increase with time, but... (i) The only way to explain the penalty from a higher withdrawal tax rate would be if time moved backwards - unlikelif time moved backwards - unlikely.

It can not be a benefit if the same $ 1,500 is paid back on withdrawal.

If the withdrawal tax includes the $ 1,500 tax on the original $ 5,000 contribution then the first claimed benefit must be wrong.

if the amount of the pension account balance is less than the withdrawal benefit that the member would be entitled to if the pension were to be fully commuted — the amount of the withdrawal benefit.

Check to see if they offer tax benefits — including tax - deferred earnings and qualified withdrawals that are tax exempt — that can boost your savings even more.

If your tax rate during contribution and withdrawal are exactly the same, the RRSP and TFSA would offer identical benefits.

If your wife was going to be in a higher tax bracket in retirement — perhaps you have a large RRSP or defined benefit (DB) pension and can split your withdrawals with her in retirement — drawing down her RRSP now might make sense as well.

Education savings accounts (like 529 plans) are great, but the withdrawals are limited to education expenses if you want the tax benefits.

It is true that a TFSA may be a better choice than an RRSP in some cases, such as if you expect a higher tax rate upon withdrawal or will face clawback (repayment) of government benefits.

If a withdrawal taken before the end of your chosen Indexed Option Period exceeds the greater of the RMD requirement or the 10 % free withdrawal benefit, the full amount withdrawn will be subject to withdrawal charges.

If I transfer assets out of the Plan and into an IRA I understand that: (i) those assets will no longer be subject to the protections of ERISA, (ii) I alone will be making investment decisions about those assets and will not be able to rely on the plan sponsor or any other person with ERISA fiduciary responsibilities, (iii) depending on the investments and services selected for the IRA, I may pay more in transaction costs than when the assets are in the Plan, and (iv) if I am between the age of 55 and 59.5, I would lose the ability to potentially take penalty - free withdrawals from the plan, (v) if I continue working past age 70.5 and transferred my plan assets to my new employer's plan, I would not be subject to required minimum distribution, and (iv) if I hold appreciated company stock, I understand any potential tax benefits that may have been available to me (e.g. net unrealized appreciationIf I transfer assets out of the Plan and into an IRA I understand that: (i) those assets will no longer be subject to the protections of ERISA, (ii) I alone will be making investment decisions about those assets and will not be able to rely on the plan sponsor or any other person with ERISA fiduciary responsibilities, (iii) depending on the investments and services selected for the IRA, I may pay more in transaction costs than when the assets are in the Plan, and (iv) if I am between the age of 55 and 59.5, I would lose the ability to potentially take penalty - free withdrawals from the plan, (v) if I continue working past age 70.5 and transferred my plan assets to my new employer's plan, I would not be subject to required minimum distribution, and (iv) if I hold appreciated company stock, I understand any potential tax benefits that may have been available to me (e.g. net unrealized appreciationif I am between the age of 55 and 59.5, I would lose the ability to potentially take penalty - free withdrawals from the plan, (v) if I continue working past age 70.5 and transferred my plan assets to my new employer's plan, I would not be subject to required minimum distribution, and (iv) if I hold appreciated company stock, I understand any potential tax benefits that may have been available to me (e.g. net unrealized appreciationif I continue working past age 70.5 and transferred my plan assets to my new employer's plan, I would not be subject to required minimum distribution, and (iv) if I hold appreciated company stock, I understand any potential tax benefits that may have been available to me (e.g. net unrealized appreciationif I hold appreciated company stock, I understand any potential tax benefits that may have been available to me (e.g. net unrealized appreciation).

If you've taken any loans on the policy or withdrawals of the benefit those will be paid off first before your beneficiary gets their share.

The Guaranteed Minimum Withdrawal Benefit only increases if the Guaranteed Minimum Balance increases.

Another benefit is that if you are planning to make regular withdrawals — most institutions will allow you to do this from a RRIF, but not an RRSP.

Whether you are in 10 or 30 % tax bracket, MIP Fund with Growth & SWP option can be considered if your withdrawals are for more than 3 years, because the Long term capital gains are taxed at 10 % or 20 % (with indexation benefit).

TFSAs will also likely continue to be a cornerstone of financial planning, even if balances won't be growing quite as quickly, because of rules on withdrawals and how they affect social benefits.

A profitable year might entice higher withdrawals, but a retiree could benefit far more if the extra earnings were reinvested for later expenses.

I consider the early withdrawal option to be a valuable benefit that I probably, but not certainly, will be able to take advantage of if the situation warrants it.

If you take a loan, withdrawal or partial or whole surrender, your death benefit may be reduced, your policy may lapse or you may face tax consequences.

Note that, the benefit from investing through my RRSP would be even greater if I begin drawing from my RRSP after I retire, because I would no longer be taxed at the top marginal rate on the money that I am withdrawing (since the withdrawals from my RRSP would be my only source of income).

If you take a withdrawal or don't pay back the loan, you reduce the death benefit for your heirs.

If so, I use a specific fixed indexed annuity that offers a contractual 4 % annual compounding death benefit to offset the annual RMD withdrawal amount.

If you withdraw retirement accounts before the penalty - free 401k withdrawal age of 59.5, you'll be forfeiting the benefits of tax - deferred earnings and compounding interest, which diminishes the savings power of 401k accounts.

A desirable option if you have a higher tax rate when you begin making withdrawals than when you contribute, a Roth IRA is funded with after - tax dollars and includes these benefits:

The expense ratio excludes additional fees that would apply if the Return of Premium death benefit rider or Secure Income (Guaranteed Lifetime Withdrawal Benefit) rider is ebenefit rider or Secure Income (Guaranteed Lifetime Withdrawal Benefit) rider is eBenefit) rider is elected.

Note that the withdrawals may move you up through several tax brackets if a large part of your retirement earnings come from your RRSP, so the average benefit may be there even if the last few marginal dollars are in the same brackets.