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  2. Individual retirement account - Wikipedia

    en.wikipedia.org/wiki/Individual_retirement_account

    An individual retirement account (IRA) in the United States is a form of "individual retirement plan", provided by many financial institutions, that provides tax advantages for retirement savings. It is a trust that holds investment assets purchased with a taxpayer's earned income for the taxpayer's eventual benefit in old age.

  3. Employee Retirement Income Security Act of 1974 - Wikipedia

    en.wikipedia.org/wiki/Employee_Retirement_Income...

    The Employee Retirement Income Security Act of 1974 (ERISA) (Pub.L. 93–406, 88 Stat. 829, enacted September 2, 1974, codified in part at 29 U.S.C. ch. 18) is a federal United States tax and labor law that establishes minimum standards for pension plans in private industry.

  4. Custodian bank - Wikipedia

    en.wikipedia.org/wiki/Custodian_bank

    Self-Directed Retirement Account Custodians (US) According to the Internal Revenue Code (IRC) in the US, various retirement accounts such as: Traditional IRAs, Roth IRA, SEP IRA, or 401k plan accounts require that a qualified trustee, or custodian, hold IRA assets on behalf of the IRA owner. The trustee/custodian provides custody of the assets ...

  5. Second mortgage - Wikipedia

    en.wikipedia.org/wiki/Second_mortgage

    Second mortgages, commonly referred to as junior liens, are loans secured by a property in addition to the primary mortgage. Depending on the time at which the second mortgage is originated, the loan can be structured as either a standalone second mortgage or piggyback second mortgage.

  6. Life insurance - Wikipedia

    en.wikipedia.org/wiki/Life_insurance

    The tax ramifications of life insurance are complex. The policy owner would be well advised to carefully consider them. As always, both the United States Congress and state legislatures can change the tax laws at any time. In 2018, a fiduciary standard rule on retirement products by the United States Department of Labor posed a possible risk.

  7. Social insurance - Wikipedia

    en.wikipedia.org/wiki/Social_insurance

    In 2019, receipts from Social Insurance taxes, the second-largest revenue source, increased by $72 billion (or 6 percent), and increased as a share of the economy from 5.8 percent in 2018 to 5.9 percent in 2019, climbing just above the 50-year average of 5.9 percent.

  8. Bank - Wikipedia

    en.wikipedia.org/wiki/Bank

    Individual retirement accounts (IRAs) and Keogh plans – a form of retirement savings in which the funds deposited and interest earned are exempt from income tax until after withdrawal. Checking accounts – offered by some institutions under definite restrictions.

  9. New Frontier - Wikipedia

    en.wikipedia.org/wiki/New_Frontier

    The Self-Employed Individuals Tax Retirement Act (1962) provided self-employed people with a tax postponement for income set aside in qualified pension plans. [35] The Public Welfare Amendments of 1962 provided for greater Federal sharing in the cost of rehabilitative services to applicants, recipients, and persons likely to become applicants ...