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  2. Pension - Wikipedia

    Inflation during an employee's retirement affects the purchasing power of the pension; the higher the inflation rate, the lower the purchasing power of a fixed annual pension. This effect can be mitigated by providing annual increases to the pension at the rate of inflation (usually capped, for instance at 5% in any given year).

  3. Tax shelter - Wikipedia

    The tax benefit derives from the fact that capital gains are taxed at a lower rate than the normal investment income such as interest or dividend. The flaws of these questionable tax shelters are usually that transactions were not reported at fair market value or the interest rate was too high or too low.

  4. Bob McDonnell - Wikipedia

    Second, the budget bill deferred a $620 million payment to the Virginia Retirement System to future years. The end of year surplus triggered the payment of a 3% bonus to state employees in December 2010. Members of both parties called on McDonnell to use the surplus to reverse the Virginia Retirement System deferral.

  5. Federal - Wikipedia

    Federal, Pleasants County, West Virginia, an unincorporated community in the United States; Federal, Queensland, a town in Australia; Federal Corners, New York, a hamlet in New York; Transportation. Federal, a passenger train providing an overnight Boston-Washington, D.C. service in 2003 and 2004

  6. Alternative minimum tax - Wikipedia

    Alice reduces her $180,000 AMTI by the $71,700 exemption to have $108,300 income that is applied solely at the 26% tax rate for an AMT tax burden of $28,158. Because Alice's AMT tax burden of $28,158 is greater than her ordinary tax burden of $15,246, she pays a total of $28,158 in federal taxes (i.e., $15,246 in ordinary tax and $12,912 in AMT).

  7. Earned income tax credit - Wikipedia

    Tax credit equals $0.34 for each dollar of earned income for income up to $10,540. For income between $10,540 and $19,330, the tax credit is a constant "plateau" at $3,584. For income between $19,330 and $41,765, the tax credit decreases by $0.1598 for each dollar earned over $19,330. For income over $41,765, the tax credit is zero.

  8. Life insurance - Wikipedia

    Most UK insurers adopted the name "life insurance with tax relief" for the product. Pension term assurance is effectively normal term life assurance with tax relief on the premiums. All premiums are paid at a net of basic rate tax at 22%, and higher-rate tax payers can gain an extra 18% tax relief via their tax return.

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