Swiss Fixed Annuities
|
|
- Angela Caldwell
- 8 years ago
- Views:
Transcription
1 Bob Bauman s June 2011 Swiss Fixed Annuities An Assured, Inflation-Proof Investment That Guarantees a Life-Time Income Even as we go to press, business news reports describe how foreign exchange traders worldwide have abandoned their recent belief that the U.S. dollar was regaining some of its lost vitality. So if not the dollar, where are those money experts going to go? To the more reliable Swiss franc and the euro, of course, both of which they say will continue to rally while the dollar slides again. In this time of a wildly fluctuating, declining U.S. dollar, you would do well to follow suit. And one of the best ways to do this is with investment that produces a guaranteed income free from the ravages of the diminished dollar. That investment is a Swiss Fixed Annuity. The Flexibility of a Bank Account Without the Bank While Swiss banking often gets the spotlight (for reasons both bad and good), its other financial institutions and insurance companies offer a broad range of services that, in some cases, approach the flexibility of a bank account. Inside This Issue What Swiss Law Guarantees You.. Page 3 A Good Income Play... Page 5 6 Reasons to Buy a Multi-Currency Annuity Certificate... Page 6 Enjoy Exemption from Swiss Taxes... Page 11 Published by The Sovereign Society
2 Indeed, many Swiss residents use their insurance company as their only financial institution. In the entire history of Swiss insurers, no life insurance company ever has failed to meet its obligations or been forced to close its doors. Swiss bankers cannot boast the same accomplishment. Besides security, Swiss insurance policies including annuities have other important advantages: 1. Swiss law affords annuities special asset protection, exempting them from enforcement of foreign court judgments, including bankruptcy. 2. Insurance and annuity accounts are not subject to the Swiss 35% withholding tax on earned bank interest. They are also exempt from all other Swiss taxes, including on income, capital gains, and inheritance taxes. What Is a Fixed Annuity? The term fixed annuity describes an insurance contract in which the issuing company pays you fixed dollar amounts for the term of the contract, usually until your death. At the start of your fixed annuity, you pay an agreed upon amount of dollars to the insurer. This is known as the single premium. In return, you receive a policy. After a deferment period, the policy pays out a guaranteed income for life. These payments consist of partial return of principal plus some guaranteed interest and non-guaranteed dividends. 3. Swiss annuities generally offer higher interest rates than Swiss bank accounts. In , Switzerland s average bank interest rate was 1.52% with an historical high of 3.50% percent in June 2000 and a record low of 0.25% in March That low is matched currently at 0.25%. However, the current interest rate paid on Swiss annuities (May 2011) is about 1.75%. What all this means is that a Swiss fixed annuity actually is both a savings plan and a pension fund all wrapped up in one policy. Protect Your Assets Against Future Claims One of the primary benefits of Swiss-issued annuity contracts is that you get a very high level of asset protection against claims of future creditors. 2
3 This is particularly important in this age of constant litigation, bankruptcy, divorce and crime, where it has become increasingly difficult to preserve your hard-earned wealth. In 2002 (the last year statistics are available), there were over 16 million civil lawsuits filed in the U.S. with over $40 billion in awards. No doubt those numbers have increased. In 2010 there were nearly four divorces for every one thousand of the U.S. population. With odds like that, your chances are high that someone will go after you in a court of law. If they do, even if you are innocent of their claims, you have no guarantee that the potential lawsuit verdict will favor you. It is simply impossible to know how a jury or judge will rule. To truly protect your assets from any seizures resulting from such claims, you must place them in a legal holding structure that is fully protected by law. That is the guarantee Swiss law affords for the fixed annuity. What Exactly Swiss Law Guarantees You The degree of asset protection Swiss insurance affords you is unparalleled anywhere else in the world. It holds that simply owning Swiss life insurance or an annuity, absent other evidence of business activity within the country, is not a sufficient basis for a Swiss court to honor a foreign legal judgment against you or your assets. In particular, Swiss law offers significant asset protection for life insurance products, including annuities. They are not subject to collection remedies directed against you and the policies are not deemed to be a part of your bankrupt estate. This means that if a U.S. or other foreign court authorizes the attachment or levy against a Swiss policy, whether in bankruptcy or otherwise, a Swiss court will not issue an order directing the assignment of the policy to the creditor or the bankruptcy trustee. Because Swiss insurance companies are not subject to the jurisdiction of a U.S. court, without an order from a Swiss court, 3
4 creditors cannot reach the annuities. And Swiss courts repeatedly and strictly uphold these protective rules. Swiss law also offers special added protection for annuities naming spouses and children as beneficiaries. Recognized by the Swiss Federal Office for Private Insurance Matters, these protections apply to all life insurance policies, including annuities and those linked to mutual funds and derivatives. Finally, Swiss insurance laws provide investors with unique privacy features that are unavailable in other offshore investments. Ultimately, Swiss fixed annuities guarantee you unmatched asset protection. They also present you with flexible estate planning options Enjoy Flexible Estate Planning Options When you originally buy your annuity you are free to name the beneficiary or beneficiaries who will receive payment in the event of your death. One or more of these beneficiaries may be you and/or private individuals, companies, trusts, or private foundations. Then you determine when the pay-out should occur, as when limiting it before the beneficiary reaches a certain age. If the beneficiary clause is not irrevocable, you may adjust or change your beneficiary designation at any time. As the insured person, when you pass away, the Swiss insurer does not need a power-of-attorney, nor a last will or certificate of inheritance to make the necessary payment. Under Swiss law, your beneficiaries get immediate access to the funds and the insurer makes payments according to their instructions. For beneficiaries to claim payment, they must present the original policy and a death certificate. In case of a joint annuity, the insurance company will continue to pay the income to the surviving annuitant until his or her death. 4
5 But, aside from unmatched asset protection and estate planning flexibility, Swiss fixed annuities also offer unique protection against a declining dollar. A Good Income Play for Savvy Investors A Swiss fixed-annuity, denominated in one of the world s most reliable currencies, the Swiss franc, is a good income play. That is because, as the dollar depreciates, your annuity income appreciates. For example, 64-year-old Mr. Smith invests 100,000 Swiss francs (CHF) in a Swiss annuity. Every year, for the rest of his life, this annuity will repay him a guaranteed 4,623 Swiss francs. His March 1, 2009 payment of 4,623 Swiss francs would have converted into US$3,952. Today, his 4,623 Swiss francs annuity payment would convert into US$5,268. That is $1,316 more cash earned with no added effort all because the Swiss franc has appreciated 27% in two years against the faltering U.S. dollar. The Swiss franc generally has reflected the state of Swiss banking - strong, valuable and unaffected by inflation and monetary fads. Since 1971, the franc has appreciated nearly 400% against the U.S. dollar. The bottom line is, when you invest CHF 100,000 (the usual minimum required) in a Swiss fixed annuity, with immediate payments over a 10- year term, you will enjoy greater spendable income when you later convert those Swiss francs back into the dollar at a much better exchange rate. How Your Investment is Managed When you buy a Swiss fixed annuity, the insurer assigns you an account manager. This person has the power to choose any investment he deems appropriate, within your general instructions. He can pick from the entire global investment universe, without SEC restrictions or other rules that would otherwise apply to you as a U.S. citizens. 5
6 This allows him to place the deposit you make into your fixed annuity into all traded mutual funds, hedge funds, stocks, bonds, structured products and the like. You can choose initially, and later change, the overall investment strategy, but under U.S. law you cannot select the specific underlying investments or manage them yourself. Under this arrangement the insurer is the owner of the investments. You own an annuity policy with a value linked to the underlying portfolio of investments, but you don t own the individual investments themselves. Swiss and other foreign insurers have established special arrangements with the successful private banks and asset managers in Switzerland and the European Union, giving you assurance that there is an investment strategy available to suit your needs. After all, the insurer wants to make profitable investments, as much as you do. That is why Multi-Currency Annuity Certificates are particularly attractive Multi-Currency Annuity Certificate: 6 Reasons to Get One Today Multi-Currency Annuity Certificates are one of the most innovative fixed annuities now available. Six factors make this particular certificate attractive #1: Flexibility As the purchaser of a Multi-Currency Annuity Certificate, you can modify the benefits or change your beneficiaries at any time. Also, the owner can be different than the insured person and the beneficiary can be a legal entity, such as a trust. The annuity can cover two insured persons using a second to die option. Like a normal Swiss fixed annuity, your certificate can be a life or fixed-term annuity and can be immediate or deferred. The insurer requires no medical examination. 6
7 #2: Beneficiary Protection When you make your spouse, children or grandchildren beneficiaries, under the Swiss Federal Law on Insurance Contracts, none of your creditors can attack this designation. #3: Currency Choice At any time, you can change the currency your certificate is denominated in. This allows you to benefit from exchange rate fluctuations. Currencies available are the: Swiss franc British pound sterling Euro U.S. dollar Canadian dollar Australian dollar New Zealand dollar And the Norwegian krone #4: Flexible Annuity Payment Options A Multi-Currency Annuity Certificate guarantees you the right to choose, at any time, an annuity paid either monthly, quarterly, half-yearly, or annually for the rest of your life. The insurer will continue to pay this annuity even after the original investment has been used up. A loan is available to you at any time before income payments start. Such a loan won t affect accruals of guaranteed interest or bonus on the basic deposit. #5: Death Lump Sum On your death, the insurance company will pay your beneficiaries the total amount of the funds you paid in, plus compound interest accrued. If you die during the annuity payment period, the company will still pay the remaining capital. #6: No Swiss Tax Just like all Swiss fixed annuities, if you are not resident in 7
8 Switzerland, you pay no Swiss tax. This guarantees liquidity of your money because you can reclaim the invested amounts at any time without incurring a penalty. Whether you select a Multi-Currency Annuity Certificate or other Swiss fixed annuity, they all have one important similarity: they are easy to open Simply Select the Type of Annuity That s Best for You There are two general types of Swiss fixed annuity plans: 1. An immediate annuity, commonly called a Retirement Income Annuity because it allows you to begin receiving retirement income almost immediately after you pay the premium. 2. And a deferred annuity, which is designed for accumulated growth. In this case, you choose when and for how long you want to get payments. For example, you could invest $100,000 as a premium now and opt to only start getting income after ten years. During the accumulation stage, your principal would grow with compounded interest, dividends and currency gains. This arrangement works best if you are planning future financial aid for the education of grandchildren or income for your spouse. Whichever type of annuity you select, you can choose your preferred duration fixed term or lifetime. But the significant advantage of the lifetime option is that the insurance company will continue to make payments, even after the depletion of your initial deposit. If you want the right to cancel the annuity at any time, simply select the with refund option. How to Take Advantage of the Strongest, Safest Asset Protection Vehicle in the World If you are interested in acquiring a Swiss fixed annuity, simply begin by signing an application form with a foreign insurer. 8
9 It is fully legal for Americans to buy and own foreign insurance and annuity policies. However most foreign insurers are not licensed to operate and market their products within the United States. This is because each of the 50 American states individually regulates most aspects of insurance. Since foreign insurers cannot operate within the U.S., an American purchaser physically must go abroad to buy the policy. After you submit your signed application in Switzerland, (or in a mutually agreed upon meeting place such as Canada,) the insurance company conducts a due diligence investigation. Once satisfied, they notify you of your approval. Then you instruct your U.S. bank to wire the agreed upon amount of funds to the account of the foreign insurer. The insurer opens your account with a Swiss- or European-based bank in their name, on behalf of your annuity. Thereafter, you pay the necessary taxes The U.S. Taxes You Will Pay on a Swiss Fixed Annuity When you buy a new foreign fixed annuity (or life insurance policy), the IRS typically levies a one-time 1% federal excise tax on the contract unless the terms of a U.S. tax treaty with the issuing country eliminates that 1%. Fortunately for Americans, under the terms of the 1998 U.S.-Swiss tax treaty (revised in 2010), the Swiss fixed annuity is not subject to this 1% U.S. excise tax. You must file IRS Form 8833 (Treaty-Based Return Position Disclosure) to claim these treaty benefits. You also pay no U.S. taxes on investment gains you earned on an insurance policy when you exchange it for a new life insurance or annuity policy, including a Swiss fixed annuity. Such swaps are known as 1035 Exchanges (named after Section 1035). For the 1035 Exchange to apply, you must be insuring the same person when you make change from one policy to another. Also, under certain conditions you can buy a Swiss fixed annuity 9
10 and hold it within your IRA at a U.S. custodian bank or institution that administers plans. However, despite all these tax concessions, the IRS treats foreign fixed annuities as a debt instrument. That means, since 1996, you can no longer defer tax on fixed annuity income. You must pay these taxes annually, just as a U.S. person pays taxes on ordinary earned income. In the case of Swiss fixed annuities, your Swiss insurance company will provide an annual statement on earnings and interest accrued to file with your U.S. taxes. Distributions prior to age 59½, including loans against the policy, are not subject to the IRS 10% penalty for early withdrawals. Thus, it is possible to take tax-free withdrawals from a Swiss fixed annuity whenever you choose prior to age 59 ½. Only properly drafted variable annuities allow tax deferral under U.S. tax law, meaning you don t pay taxes on interest and dividends until you withdraw the money. Your issuing Swiss insurance company, as the withholding agent for U.S. taxes, will ask you to complete a Certificate of Foreign Status of Beneficial Owner for U.S. Tax Withholding - Form W-8BEN. They will help you do this. Over all, if you compare the tax treatment of U.S. annuities to that of Swiss fixed annuities, it is clear that the latter is far more beneficial to you financially. Take a look at the table below Tax Treatment of U.S. Annuities vs. Swiss Fixed Annuities U.S. Annuities Swiss Fixed Annuities Earnings in accumulation phase Tax-Deferred Taxable Partial withdrawals Taxable Tax-Free Full liquidations Taxable Taxable Annuity payments Taxable, with penalties Tax-Free, no penalties Premature withdrawals Taxable, with penalties Tax-Free, no penalties (before age 59 ½) Loans Taxable, with penalties Tax-Free, no penalties Loan interest Never tax-deductible Can be deductible Note: This information may change if the U.S. or Switzerland changes its tax laws. Always consult your U.S. tax attorney or accountant. 10
11 You also benefit from an exemption from all Swiss taxes You Pay No Swiss Tax Swiss law treats annuities, fixed or variable, as life insurance policies. This status exempts them from all Swiss taxes. Plus, Switzerland offers special tax incentives to foreign annuity investors by exempting non-resident annuity buyers from all Swiss income, capital gains, and inheritance taxes on an annuity. One other inducement: annuities and other insurance contracts are exempt from the 35% Swiss withholding tax on interest payments. Report Any Offshore Insurance The Foreign Account Tax Compliance Act (FATCA), which is part of the HIRE Act, requires you to report offshore insurance and annuities if their value is $50,000 or more. However the HIRE Act rules are not in final form at this writing and do not take effect until January 1, Also, new U.S. reporting requirements relating to offshore insurance are pending in the U.S. Treasury. The proposed new rules are similar to those the IRS imposed on offshore banks, such as filing the IRS Form W9. As my colleague, wealth preservation and international tax planning expert Mark Nestmann has explained in detail, proposed rules which the Financial Crimes Enforcement Network (FinCEN) announced, greatly expand the scope of investments that you must report annually. Even before any new reporting rules, U.S. persons have been required to submit the Foreign Bank Account Report (FBAR), known as the U.S. Treasury Form TDF , by June 30 th each year. Under new pending FBAR rules, an expanded definition of the term other financial accounts includes reporting an account that is an insurance or annuity policy with a cash value. This squarely targets U.S. investors holding non-u.s. life insurance or annuity contracts. The obligation to file the FBAR, in the case of life insurance or annuities, rests with you as the policyholder not the beneficiary. 11
12 The bottom line: a Swiss fixed annuity is an assured, inflationproof investment that guarantees a life-time income. If you are interested in learning more about Multi-Currency Annuity Certificate or other Swiss fixed annuities, contact Marc-André Sola, a distinguished member of the Sovereign Society Council of Experts. His contact details are: Marc-André Sola, Managing Partner NMG International Financial Services Ltd. Goethestrasse 22, 8001 Zurich, Switzerland Phone: Fax: Website: info@nmg-ifs.com Until next month, Bob Bauman JD Publisher...Erika Nolan Editor...Bob Bauman JD Managing Editor... Teresa van den Barselaar Graphic Designer...Bruce Borich Bob Bauman s Offshore Confidential is published 12 times per year for $495 by The Sovereign Society The Freedom Alliance 98 S.E. 6th Avenue, Suite 2 Delray Beach, FL USA, USA Toll Free Tel: (888) Contact: Website: Copyright 2011 Sovereign Offshore Services LLC. dba The Sovereign Society All international and domestic rights reserved, protected by copyright laws of the United States and international treaties. No part of this publication may be reproduced in any form, printed or electronic or on the worldwide web, without written permission from the publisher, Sovereign Offshore Services, LLC. 98 SE 6th Ave., Suite 2, Delray Beach, FL Legal Notice: This work is based on what we ve learned as financial journalists. It may contain errors and you should not base investment decisions solely on what you read here. It s your money and your responsibility. Nothing herein should be considered personalized investment advice. Although our employees may answer general customer service questions, they are not licensed to address your particular investment situation. Our track record is based on hypothetical results and may not reflect the same results as actual trades. Likewise, past performance is no guarantee of future returns. Certain investments such as futures, options, and currency trading carry large potential rewards but also large potential risk. Don t trade in these markets with money you can t afford to lose. Sovereign Offshore Services LLC expressly forbids its writers from having a financial interest in their own securities or commodities recommendations to readers. Such recommendations may be traded, however, by other editors, Sovereign Offshore Services LLC, its affiliated entities, employees, and agents, but only after waiting 24 hours after an internet broadcast or 72 hours after a publication only circulated through the mail. Also, please note that due to our commercial relationship with EverBank, we may receive compensation if you choose to invest in any of their offerings. (c) 2011 Sovereign Offshore Services LLC. All Rights Reserved. Protected by copyright laws of the United States and international treaties. This Newsletter may only be used pursuant to the subscription agreement. Any reproduction, copying, or redistribution, (electronic or otherwise) in whole or in part, is strictly prohibited without the express written permission of Sovereign Offshore Services, LLC. 98 South 6th Ave, Suite 2, Delray Beach FL
How to Turn Your Stocks into ATMs
A Publication of The Sovereign Society How to Turn Your Stocks into ATMs By Chad Shoop The Sovereign Society 55 NE 5th Avenue, Suite 200 Delray Beach, FL 33483 USA USA Toll Free Tel: (888) 272-0413 Contact:
More informationHow to Turn Your Brokerage Account Into an ATM
A Publication of The Sovereign Society How to Turn Your Brokerage Account Into an ATM By Jeff D. Opdyke, Executive Editor The Sovereign Society 55 N.E. 5th Avenue, Suite 200 Delray Beach, FL 33483 USA
More informationNo bank guarantee Not a deposit May lose value Not FDIC/NCUA insured Not insured by any federal government agency
Understanding annuities An Overview for Your Retirement No bank guarantee Not a deposit May lose value Not FDIC/NCUA insured Not insured by any federal government agency 2/15 13096-15A Contents Get Ready
More informationAllstate ChoiceRate Annuity
Allstate ChoiceRate Annuity Allstate Life Insurance Company P.O. Box 80469 Lincoln, NE 68501-0469 Telephone Number: 1-800-203-0068 Fax Number: 1-866-628-1006 Prospectus dated May 1, 2008 Allstate Life
More informationAsset protection through Swiss life insurance policies
Asset protection through Swiss life insurance policies This analysis is applicable to all life insurance policies that have been recognized by the supervisory authority, the Federal Office for Private
More informationUnderstanding Annuities
Annuities, 06 5/4/05 12:43 PM Page 1 Important Information about Variable Annuities Variable annuities are offered by prospectus, which you can obtain from your financial professional or the insurance
More informationNo bank guarantee Not a deposit May lose value Not FDIC/NCUA insured Not insured by any federal government agency
Understanding fixed annuities An Overview for Your Retirement No bank guarantee Not a deposit May lose value Not FDIC/NCUA insured Not insured by any federal government agency 3/15 23264-15A Contents Get
More informationGlobal Growth Strategist Trading Manual
A Publication of The Sovereign Society Global Growth Strategist Trading Manual How to Access Investment Opportunities in the Very Best of America s Emerging Baby Multinationals By Jeff Opdyke, Editor,
More informationGuide to buying annuities
Guide to buying annuities Summary of the key points contained in this disclosure document Before you purchase your annuity contract, make sure that you read and understand this guide. While reading this
More informationAnnuities. Introduction 2. What is an Annuity?... 2. How do they work?... 3. Types of Annuities... 4. Fixed vs. Variable annuities...
An Insider s Guide to Annuities Whatever your picture of retirement, the best way to get there and enjoy it once you ve arrived is with a focused, thoughtful plan. Introduction 2 What is an Annuity?...
More informationThe Classic Swiss Franc Annuities
An Invitation from GONTHIER GROUP SA The Classic Swiss Franc Annuities Retirement Income You Can Count On Pierre-André Gonthier International English edition Preserving your Purchasing Power with a Swiss
More informationINTERNATIONAL PRIVATE PLACEMENT VARIABLE LIFE INSURANCE. A Fountainhead Forum Fact Sheet
INTERNATIONAL PRIVATE PLACEMENT VARIABLE LIFE INSURANCE A Fountainhead Forum Fact Sheet INTERNATIONAL PRIVATE PLACEMENT VARIABLE LIFE INSURANCE Many high net worth clients have superior investment managers,
More informationLearning Objectives 26. What Is Insurance? 3. Coverage Concepts 8. Types of Insurance 10. Types of Insurers 11. Introduction 26
Contents u n i t 1 Introduction to Insurance 1 Introduction 2 Learning Objectives 2 What Is Insurance? 3 Risk 4 Coverage Concepts 8 Types of Insurance 10 Types of Insurers 11 Domicile and Authorization
More informationMoss Adams Introduction to ESOPs
Moss Adams Introduction to ESOPs Looking for an exit strategy Have you considered an ESOP? Since 1984, we have performed over 2,000 Employee Stock Ownership Plan (ESOP) valuations for companies with as
More informationIN THIS ISSUE: August, 2011 j Top Income Tax Planning Ideas for 2011 and 2012
IN THIS ISSUE: Income Tax Overview Qualified Dividends Long-Term Capital Gains Ordinary Income Additional Income Tax Planning Ideas Income Shifting to Junior Generations Roth IRA Conversions NUA Planning
More informationGovernmental 457(b) Application For Distribution
#1303-PS (5/14/2008) Governmental 457(b) Application For Distribution GENERAL INFORMATION Name of Plan Name of Employer Address City State Zip Name of Participant Date of Birth Complete the following section
More informationCHAPTER 10 ANNUITIES
CHAPTER 10 ANNUITIES are contracts sold by life insurance companies that pay monthly, quarterly, semiannual, or annual income benefits for the life of a person (the annuitant), for the lives of two or
More informationAnnuities. Products. Safe Money. that Stimulate Financial Growth & Preserve Wealth. Safe Money is for money you cannot afford to lose.
Annuities Safe Money Products that Stimulate Financial Growth & Preserve Wealth Safe Money is for money you cannot afford to lose. Learn why Annuities are considered to be a Safe Money Place and how these
More informationUnderstanding IRA distributions
Understanding IRA distributions A retirement distribution guide Allianz Life Insurance Company of New York Allianz Life Insurance Company of North America AMK-019-N Page 1 of 12 It s important to know
More informationEagle Systems, Inc. Tax Deferred Savings Plan & Trust (EAG) DISTRIBUTION REQUEST FORM
Participant Information Eagle Systems, Inc. Tax Deferred Savings Plan & Trust (EAG) DISTRIBUTION REQUEST FORM Name: SSN: Address: City: State: Zip: *Phone Number: *Email: Hours Worked YTD: Date of Birth:
More informationUnderstanding Annuities: A Lesson in Annuities
Understanding Annuities: A Lesson in Annuities Did you know that an annuity can be used to systematically accumulate money for retirement purposes, as well as to guarantee a retirement income that you
More informationThe owner is usually the purchaser of the policy. However, the owner may also acquire the policy by gift, sale, exchange, or bequest.
Annuity Ownership Considerations What is an annuity owner? What are the owner's rights? Who should be the owner? What if the owner dies? Is the annuity includable in the owner's estate? What risks does
More informationSupplement to IRA Custodial Agreements
Supplement to IRA Custodial Agreements Effective December 31, 2014, the update below will be made to the American Century Custodial agreements for the following retirement accounts: Traditional IRAs, Roth
More informationTraditional and Roth IRAs. Invest for retirement with tax-advantaged accounts
Traditional and s Invest for retirement with tax-advantaged accounts Your Retirement It is your ultimate reward for a lifetime of hard work and dedication. It is a time when you should have the financial
More informationEXPLORING YOUR IRA OPTIONS. Whichever you choose traditional or Roth investing in an IRA is a good step toward saving for retirement.
EXPLORING YOUR IRA OPTIONS Whichever you choose traditional or Roth investing in an IRA is a good step toward saving for retirement. 2 EXPLORING YOUR IRA OPTIONS Planning for retirement can be a challenging
More informationTraditional and Roth IRAs. Invest for retirement with tax-advantaged accounts
Traditional and Roth IRAs Invest for retirement with tax-advantaged accounts Your Retirement It is your ultimate reward for a lifetime of hard work and dedication. It is a time when you should have the
More informationCaution: Withdrawals made prior to age 59 ½ may be subject to a 10 percent federal penalty tax.
Annuity Distributions What are annuity distributions? How are annuity distributions made? How are your annuity payouts computed if you elect to annuitize? Who are the parties to an annuity contract? How
More informationUnderstanding Annuities
Retirement Planning Understanding Annuities Learn how these versatile investments can be part of your strategy for retirement savings and income. understanding annuities Annuities can help provide the
More informationUnderstanding fixed index annuities
Allianz Life Insurance Company of North America Understanding fixed index annuities M-5217 Page 1 of 12 Page 2 of 12 It s time to rethink retirement. In past years, the financial markets have experienced
More informationDISTRIBUTION FROM A PLAN NOT SUBJECT TO QJSA
DISTRIBUTION FROM A PLAN NOT SUBJECT TO QJSA This form must be preceded by or accompanied by the Special Tax Notice Regarding Plan Payments [Code (402(f)) Notice] PLAN INFORMATION Name of Plan: PARTICIPANT
More informationP. O. Box 2069 Woburn, MA 01801-1721 (781) 938-6559 NOTICE TO PARTICIPANTS SEPARATED FROM SERVICE
P. O. Box 2069 Woburn, MA 01801-1721 (781) 938-6559 NOTICE TO PARTICIPANTS SEPARATED FROM SERVICE Under the terms of the SBERA 401 (k) Plan, you may now elect to withdraw your total account balance. Your
More informationTRADITIONAL IRA DISCLOSURE STATEMENT
TRADITIONAL IRA DISCLOSURE STATEMENT TABLE OF CONTENTS REVOCATION OF ACCOUNT... 1 STATUTORY REQUIREMENTS... 1 (1) Qualification Requirements... 1 (2) Required Distribution Rules... 1 (3) Approved Form....
More information457(b) Deferred Compensation Overview for Governmental and Public School entities
457(b) Deferred Compensation Overview for Governmental and Public School entities Retirement experts agree...having the money you want in your later years requires careful planning now. Plan ahead. How
More informationIf you re like most Americans, then you ve probably never heard of. Currencies to Secure Your Retirement
A Publication of World Currency Watch Currencies to Secure Your Retirement Simple, Safe and FDIC Insured Deposits You Can Add to Your IRA By The World Currency Watch Research Team If you re like most Americans,
More informationCOLLIERS INTERNATIONAL USA, LLC And Affiliated Employers 401(K) Plan DISTRIBUTION ELECTION
1. EMPLOYEE INFORMATION (Please print) COLLIERS INTERNATIONAL USA, LLC And Affiliated Employers 401(K) Plan DISTRIBUTION ELECTION Name: Address: Social Security No.: Birth Date: City: State: Zip: Termination
More informationBase Plan Account Withdrawal
Base Plan Account Withdrawal Purpose of the Form Use this form to choose how you want PERSI to handle the withdrawal of your PERSI Base Plan contributions and interest when you terminate employment with
More informationNORTHEAST INVESTORS TRUST. 125 High Street Boston, MA 02110 Telephone: 800-225-6704
NORTHEAST INVESTORS TRUST traditional IRA INVESTOR S KIT 125 High Street Boston, MA 02110 Telephone: 800-225-6704 Table of Contents NORTHEAST INVESTORS TRUST TRADITIONAL IRA DISCLOSURE STATEMENT...1 INTRODUCTION...1
More informationFMPTF 401(a) Defined Contribution and 457(b) Deferred Compensation BENEFICIARY DISTRIBUTION REQUEST
FMPTF 401(a) Defined Contribution and 457(b) Deferred Compensation BENEFICIARY DISTRIBUTION REQUEST If you have any questions, please contact the Florida Municipal Pension Trust Fund (FMPTF) by calling
More informationSix Strategies to Help Retirees Reduce Taxes and Preserve Their Assets
Six Strategies to Help Retirees Reduce Taxes and Preserve Their Assets Provided to you by: H. Howard Rigg CFS,CRPS,RFC,CASL Six Strategies to Help Retirees Reduce Taxes and Preserve Their Assets Written
More informationREVIEWING YOUR TIAA-CREF INCOME CHOICES A GUIDE TO YOUR PAYMENT OPTIONS
REVIEWING YOUR TIAA-CREF INCOME CHOICES A GUIDE TO YOUR PAYMENT OPTIONS FLEXIBILITY & CHOICE TIAA-CREF UNDERSTANDS YOUR FINANCIAL PRIORITIES can change over time, which is why we offer you a wide range
More informationIRA. (I m Ready to Act)
IRA (I m Ready to Act) bravo! You ve reached the next stage in preparing for retirement. First stage: accumulating money for the future You ve taken the first steps toward a fulfilling and financially
More informationThe IRA Rollover. Making Sense Out of Your Retirement Plan Distribution
The IRA Rollover Making Sense Out of Your Retirement Plan Distribution Expecting a Distribution? You have been a participant in your employer s retirement plan for a number of years, and you have earned
More informationIndividual Retirement Arrangements (IRAs)
Department of the Treasury Internal Revenue Service Publication 590 Cat. No. 15160x Individual Retirement Arrangements (IRAs) (Including Roth IRAs and Education IRAs) For use in preparing 1999 Returns
More informationIndividual Retirement Plans Investor guide to traditional and Roth IRAs. Individual Retirement Plans: Investor Guide
Individual Retirement Plans Investor guide to traditional and Roth IRAs a Individual Retirement Plans: Investor Guide Individual Retirement Plans An individual retirement plan may be a beneficial addition
More informationImportant Information Morgan Stanley SIMPLE IRA Summary
SIMPLE IRA Summary September 2013 Important Information Morgan Stanley SIMPLE IRA Summary The following is intended to provide you with basic information on the roles and services that Morgan Stanley Smith
More information16. Individual Retirement Accounts
16. Individual Retirement Accounts Introduction Through enactment of the Employee Retirement Income Security Act of 1974 (ERISA), Congress established individual retirement accounts (IRAs) to provide workers
More informationBUYER S GUIDE TO FIXED DEFERRED ANNUITIES
BUYER S GUIDE TO FIXED DEFERRED ANNUITIES Prepared by the National Association of Insurance Commissioners The National Association of Insurance Commissioners is an association of state insurance regulatory
More informationUnderstanding Annuities: A Lesson in Fixed Interest and Indexed Annuities Prepared for: Your Clients
Understanding Annuities: A Lesson in Fixed Interest and Indexed Annuities Prepared for: Your Clients Presented by: Arvin D. Pfefer Arvin D. Pfefer & Associates 7301 Mission Road, Suite 241 Prairie Village,
More informationIRA DISTRIBUTION FORM
IRA DISTRIBUTION FORM SECTION 1: Account Information Account Number Owner s Name (Last, First, Middle Initial) Owner s Social Security Number Date of Birth (MM/DD/YY) Address of Residence - P.O. Box is
More informationAnnuity Contract Proof of Death
Annuity Contract Proof of Death Questions? Call our National Service Center at 1-800-888-2461. Instructions This form is to be completed in order to claim proceeds payable upon death. A separate Proof
More informationPreference Premier. for your loved ones. Enhanced Death Benefit & Earnings Preservation Benefit. Protection Benefits ANNUITIES VARIABLE
ANNUITIES VARIABLE Preference Premier for your loved ones. Protection Benefits Enhanced Death Benefit & Earnings Preservation Benefit ISSUED BY METROPOLITAN LIFE INSURANCE COMPANY what if you could provide
More informationNew Alternatives Fund, Inc. INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA
New Alternatives Fund, Inc. INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA TABLE OF CONTENTS COMBINED DISCLOSURE STATEMENT 3 TRADITIONAL INDIVIDUAL RETIREMENT ACCOUNT DISCLOSURE 4
More informationGuide to buying annuities
Guide to buying annuities Summary of the key points contained in this disclosure document Before you purchase your annuity contract, make sure that you read and understand this guide. While reading this
More informationTHIRD AVENUE FUNDS INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA
THIRD AVENUE FUNDS INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA TABLE OF CONTENTS COMBINED DISCLOSURE STATEMENT 3 TRADITIONAL INDIVIDUAL RETIREMENT ACCOUNT DISCLOSURE 4 ROTH INDIVIDUAL
More informationDistribution Options. For Defined Contribution and 403(b) Plans Without Life Annuities
Distribution Options For Defined Contribution and 403(b) Plans Without Life Annuities Take the Time to Decide What will you do with your retirement savings? Life is full of changes. We retire. We change
More informationTAX SHELTERED ANNUITY ROLLOVER / PARTIAL WITHDRAWAL / FULL SURRENDER REQUEST
General American Retirement & Investment Services PO Box 19098 Greenville, SC 29602 Customer Service: 800-449-6447 Fax: 866-214-0926 TAX SHELTERED ANNUITY ROLLOVER / PARTIAL WITHDRAWAL / FULL SURRENDER
More informationA Guide to Life Insurance for Small Business SUN LIFE FINANCIAL
A Guide to Life Insurance for Small Business SUN LIFE FINANCIAL For a small business owner, group life insurance and qualified plans may not be adequate to protect the business from unforeseen risks or
More informationA guide to buying insurance from Wells Fargo Advisors
A guide to buying insurance from Wells Fargo Advisors What you should know before you buy Is life insurance right for you? Life insurance policies are designed for investors who: Seek liquidity to cover
More informationVariable Annuities. Introduction. Settlement Options. Methods of Buying Annuities. Tracking Separate Accounts. Suitability. Tax Deferred Annuities
Variable Annuities Introduction Settlement Options Methods of Buying Annuities Tracking Separate Accounts Suitability Tax Deferred Annuities Using this study guide. This study guide is intended for use
More informationYour Number. Every person has one. ANNUITIES. Your future. Made easier. SM
Your Number. Every person has one. Not FDIC/NCUA Insured Not A Deposit Of A Bank Not Bank Guaranteed May Lose Value Not Insured By Any Federal Government Agency ANNUITIES Your future. Made easier. SM Know
More informationFarmers and Foreign Accounts
Farmers and Foreign Accounts Marc Lovell Tax School and Department of Agricultural and Consumer Economics University of Illinois August 9, 04 farmdoc daily (4):65 Recommended citation format: Lovell, M.
More informationSUMMARY REVIEW COLORADO COUNTY OFFICIALS AND EMPLOYEES RETIREMENT ASSOCIATION 457 DEFERRED COMPENSATION PLAN FOR THE
SUMMARY REVIEW FOR THE COLORADO COUNTY OFFICIALS AND EMPLOYEES RETIREMENT ASSOCIATION 457 DEFERRED COMPENSATION PLAN TABLE OF CONTENTS INTRODUCTION... i HIGHLIGHTS... 2 PARTICIPATION... 2 Eligibility to
More informationUnderstanding Annuities: A Lesson in Variable Annuities
Understanding Annuities: A Lesson in Variable Annuities Did you know that an annuity can be used to systematically accumulate money for retirement purposes, as well as to guarantee a retirement income
More informationPreserving Retirement Assets: An IRA Rollover Review
Preserving Retirement Assets: An IRA Rollover Review How will you replace your income when you retire? What will happen to your standard of living when your income ceases at retirement? Table of Contents
More informationJanus Qualified Retirement Accounts Distribution Form
Janus Qualified Retirement Accounts Distribution Janus Qualified PO Box 55932 Form Retirement Accounts Distribution Form Boston, MA 02205-5932 800-525-1093 PO Box 55932 Boston, MA 02205-5932 800-525-1093
More informationParticipant Name (First) (Middle Initial) (Last) Social Security Number I.D. Number. Participant Address (Street) City State ZIP Code + 4
Mailing Address: Des Moines, IA 50392-0001 Principal Life Insurance Company Early Withdrawal of Benefits Without Guaranteed Accounts No Spousal Consent Needed CTD00603 Complete this form to withdraw part
More informationSummary Plan Description
Summary Plan Description Prepared for The College of Wooster Defined Contribution Plan July 2011 TABLE OF CONTENTS INTRODUCTION...3 ELIGIBILITY...4 A. Am I eligible to participate in the Plan?...4 B. What
More informationCaution: Special rules apply to certain distributions to reservists and national guardsmen called to active duty after September 11, 2001.
Thorsen Clark Tracey Wealth Management 301 East Pine Street Suite 1100 Orlando, FL 32801 407-246-8888 407-897-4427 thorsenclarktraceywealthmanagement@raymondjames.com tctwealthmanagement.com Roth IRAs
More informationDefined Contribution and Tax-deferred Annuity Retirement Plan. Summary Plan Description
Defined Contribution and Tax-deferred Annuity Retirement Plan Summary Plan Description Updated September 2015 This document provides each Participant with a description of the Institution's Defined Contribution
More informationDistributions and Rollovers from
Page 1 of 6 Frequently Asked Questions about Distributions and Rollovers from Retirement Accounts Choosing what to do with your retirement savings is an important decision. Tax implications are just one
More informationWHO CAN CONTRIBUTE TO A ROTH IRA?
{ } ROTH IRAs 1 WHO CAN CONTRIBUTE TO A ROTH IRA? Any taxpayer who has compensation, regardless of age, can contribute to a ROTH IRA. Compensation is defined as wages, salaries, bonuses, commissions, tips,
More informationIrrevocable Life Insurance Trust
Davis & Graves CPA LLP Jerry Davis, CPA/PFS 700 N Main Gresham, OR 97009 503-665-0173 jerryd@davisgraves.com www.jjdcpa.com Irrevocable Life Insurance Trust Page 1 of 9, see disclaimer on final page Irrevocable
More informationUnderstanding Annuities
Understanding Annuities Annuities issued by Pruco Life Insurance Company (in New York, issued by Pruco Life Insurance Company of New Jersey) and The Prudential Insurance Company of America. 0160994-00006-00
More informationAre You Ready For New Form 8938 to Report Specified Foreign Financial Assets?
Are You Ready For New Form 8938 to Report Specified Foreign Financial Assets? The Hiring Incentives to Restore Employment ( HIRE ) Act, signed into law in 2010, included modified provisions of the previously
More informationFREQUENTLY ASKED QUESTIONS
myra my RETIREMENT ACCOUNT FREQUENTLY ASKED QUESTIONS 2 6 11 14 17 19 ABOUT myra OPENING AN ACCOUNT MANAGING YOUR ACCOUNT CONTRIBUTIONS AND WITHDRAWALS TRANSFERS AND ROLLOVERS BEYOND myra JANUARY 2015
More informationGuide to Individual Retirement Accounts. Make a secure retirement yours
Guide to Individual Retirement Accounts Make a secure retirement yours Retirement means something different to everyone. Some dream of stopping employment completely and some want to continue working.
More informationThe SwissGuard Solution
The SwissGuard Solution Privacy and Protection for Your Money The SwissGuard Solution Anyone with capital they want to protect and preserve. Investors who want to diversify their investments globally.
More informationUnderstanding fixed annuities
Allianz Life Insurance Company of North America Understanding fixed annuities Protection for your retirement money M-5210 Page 1 of 12 Page 2 of 12 It s time to rethink retirement. In recent years, the
More informationCITI FUND SERVICES, INC. CUSTODIAL ACCOUNT DISCLOSURE STATEMENT. MERK FUNDS Custodial Account Disclosure Statement. Part One: Traditional IRAs
MERK FUNDS Custodial Account Disclosure Statement This Custodial Account Disclosure Statement ( Disclosure Statement ) applies to Traditional Individual Retirement Accounts ( IRAs ), Roth IRAs and Coverdell
More informationIN THIS SECTION SEE PAGE. Diageo: Your 2015 Employee Benefits 139
Diageo: Your 2015 Employee Benefits 139 Cash Balance Pension Plan The Diageo North America, Inc. Cash Balance Pension Plan is a Company-funded defined benefit plan that provides you with retirement income
More informationEstate planning strategies using life insurance in a trust Options for handling distributions, rollovers and conversions
Estate planning strategies using life insurance in a trust Options for handling distributions, rollovers and conversions Life s better when we re connected Table of contents Find your questions review
More informationDISTRIBUTION/DIRECT ROLLOVER REQUEST - 401(k) Plan Refer to the Participant Distribution Guide while completing this form. Use blue or black ink only.
DISTRIBUTION/DIRECT ROLLOVER REQUEST - 401(k) Plan Refer to the Participant Distribution Guide while completing this form. Use blue or black ink only. HEALTH MIDWEST RETIREMENT SAVINGS PLAN 1009529-02
More informationSupplement to the Traditional and Roth Individual Retirement Account (IRA) Disclosure Statement
BNY MELLON INVESTMENT SERVICING TRUST COMPANY Supplement to the Traditional and Roth Individual Retirement Account (IRA) Disclosure Statement Important Changes to the Rules Governing Indirect (60-day)
More informationGlossary: The Language of Variable Annuities
Glossary: The Language of Variable Annuities Glossary: The Language of Variable Annuities A variable annuity (VA) is a long-term, tax-deferred investment designed to help investors save for retirement.
More informationTABLE OF CONTENTS PAGE GENERAL INFORMATION B-3 CERTAIN FEDERAL INCOME TAX CONSEQUENCES B-3 PUBLISHED RATINGS B-7 ADMINISTRATION B-7
STATEMENT OF ADDITIONAL INFORMATION INDIVIDUAL VARIABLE ANNUITY ISSUED BY JEFFERSON NATIONAL LIFE INSURANCE COMPANY AND JEFFERSON NATIONAL LIFE ANNUITY ACCOUNT G ADMINISTRATIVE OFFICE: P.O. BOX 36840,
More informationThe Continuing Significance of Non-Qualified Deferred Compensation. From: Louis Lepore TABLE OF CONTENTS
THE PLANNER THE MAY 2010 EDITION Volume 2, Issue 5 A monthly newsletter for Accounting, and Financial Professionals with a focusing on Estate Planning, Elder Law, and Special Needs Persons. The Planner
More informationIndividual Retirement Arrangements (IRAs)
Department of the Treasury Internal Revenue Service Publication 590 Cat. No. 15160x Individual Retirement Arrangements (IRAs) (Including Roth IRAs and Education IRAs) For use in preparing 2000 Returns
More informationTOWN OF NATICK OBRA 457 DEFERRED COMPENSATION GOVERNMENTAL PLAN DISTRIBUTION FORM
TOWN OF NATICK OBRA 457 DEFERRED COMPENSATION GOVERNMENTAL PLAN DISTRIBUTION FORM PARTICIPANT/ ALTERNATE PAYEE INFORMATION DISTRIBUTION REASON PAYMENT METHOD SPOUSE S CONSENT TO DISTRIBUTION (not applicable
More informationBUYING A VARIABLE ANNUITY CONTRACT THROUGH CETERA FINANCIAL SPECIALISTS LLC
Cetera Financial Specialists LLC 200 N. Martingale Road Schaumburg, IL 60173-2096 BUYING A VARIABLE ANNUITY CONTRACT THROUGH CETERA FINANCIAL SPECIALISTS LLC General Considerations Before you buy any insurance
More informationAnnuities The Key to a
Annuities The Key to a Secure Retirement 1 Saving for retirement is crucial, and making sure those resources last throughout your lifetime is just as important. Annuities do both helping you save, then
More informationVariable Annuities 101
WealthMark Advisory Services Philip Scholler President/CEO 5001 Horizons Drive Suite 201 Columbus, OH 43220 614-824-4352 phil@wealthmarkas.com www.wealthmarkas.com Inside Workbook: What Is a Variable Annuity?
More informationAn IRA can put you in control of your retirement, whether you
IRAs: Powering Your Retirement One of the most effective ways to build and manage funds to help you meet your financial goals is through an Individual Retirement Account (IRA). An IRA can put you in control
More informationCan Deduction Be Taken Prior to Investing the Funds?
Deadline to Establish and Fund an IRA An IRA can be established and funded at any time from January of the current year and up to and including the date an individual s income tax return is due (generally,
More informationYour retirement income. Managing your retirement plan assets
Your retirement income Managing your retirement plan assets Taking control of your retirement assets If you are changing jobs, displaced, or retiring, you may find yourself facing one of the most important
More informationMARCH/APRIL 2015 MAKING THE MOST OF DIVIDEND INCOME WHICH TYPE OF MORTGAGE LOAN MEETS YOUR NEEDS?
PLANNING FOR PROSPERITY MARCH/APRIL 2015 MAKING THE MOST OF DIVIDEND INCOME REVIEW IN CASE OF DIVORCE When it s critical to revise your estate plan WHICH TYPE OF MORTGAGE LOAN MEETS YOUR NEEDS? FOREIGN
More informationFlexible Premium Deferred Annuity Handbook. Concepts and Definitions
Flexible Premium Deferred Annuity Handbook Contents Overview of Annuities 3 Definition of Flexible Premium Deferred Annuity (FPDA) 4 What is the Difference Between a Qualified and Nonqualified Annuity?
More informationPreparing for Your Retirement: An IRA Review
Preparing for Your Retirement: An IRA Review How much of your earning power will be available for your use when you retire? What will happen to your standard of living when your income ceases at retirement?
More informationFrequently asked questions
Page 1 of 6 Frequently asked questions Distributions and rollovers from retirement accounts Choosing what to do with your retirement savings is an important decision. Tax implications are just one of several
More informationThe Basics of Annuities: Planning for Income Needs
March 2013 The Basics of Annuities: Planning for Income Needs summary the facts of retirement Earning income once your paychecks stop that is, after your retirement requires preparing for what s to come
More information