Employer Sponsored plans
This employer-sponsored plan allows private-sector employees to contribute part of their paycheck before taxes are taken out, often with employer matching.
What is a 401(k)?
This individual retirement plan allows you to contribute pre-tax money, with taxes paid later when you withdraw funds in retirement.
What is a traditional IRA?
This term describes money that is invested now but taxed later, such as in most 401(k) and IRA contributions.
What is tax-deferred?
When you leave a job, you can move money from your old retirement plan into a new one without paying taxes immediately through this process.
What is a rollover?
True or False: For most people, health-care costs decrease steadily with age.
FALSE
This plan is similar to a 401(k) but is offered mainly to employees of public schools, hospitals, and certain nonprofits.
What is a 403B?
This type of IRA uses after-tax contributions, but qualified withdrawals during retirement are tax-free.
What is a ROTH IRA?
This determines how long you must work for an employer before you own all the money contributed to your retirement account.
What is vesting?
This financial product provides regular payments to a retiree for life or a set period, often purchased from an insurance company.
What is an annuity?
What is the RMD (required minimum distribution) for a 401(k)?
What is 72-75, depending on when you were born
75 for those born after 1960
This plan guarantees a set monthly payment for life, often based on salary and years of service.
What is a Pension?
This plan is designed for self-employed individuals or small business owners and allows higher contribution limits than a traditional IRA.
What is a SEP IRA?
This term refers to when an employer contributes additional funds to your retirement plan, often matching your own contributions up to a limit.
What is employer-match?
This government program provides monthly income to retirees based on their work history and payroll taxes paid.
What is Social Security?
What is the average life expectancy for men and women?
75.8 & 81.1
A Pension is a type of what?
Defined Benefit Plans
Generally, what is the age at which you can start withdrawing from a IRA, 401K, 403B?
59.5
A contract with an insurance company that provides regular income for a set period of time, usually for life?
Annuity
A defined-benefit retirement plan that does not have RMD rules and is for government employees.
457 plan
This plan allows small businesses to set up retirement accounts for employees with minimal paperwork.
What is a SIMPLE IRA?
2025 401(K)/403(B) maximum contribution in $$?
$23,500
IRA/IRA Roth maximum contribution limit - 2025
$7,000
A person or group that receives the deceased person's assets.
Beneficiary
A self-employed retirement plan that allows tax-deductible contributions for employers and employees.
Solo 401(k) plan