1. A is a retirement plan, sometimes called a pension plan, funded by the employer, who promises the employee a specific benefit upon retirement.
2. Under plans, each employee has a retirement account, and both the employee and the employer may contribute to the account.
3. The advantages of a plan for the employee are the plans flexibility and portability and the tax benefit
4. The federal government offers a mandatory retirement plan for all citizens except federal government employees and railroad workers, known as .
5. The IRA is an account funded by tax-deductible and/or nondeductible contributions.
6. For the IRA contributions are not tax deductible, but withdrawals are not taxed.
7. A is a distribution of cash from one retirement fund to another.
8. A (SEP) is a plan that allows an employer with few or even no other employees than himself or herself to contribute deductible retirement contributions to an employees Traditional IRA.
9. is the legal process of validating a will and administering the payment of debts and the distribution of assets by a probate court.
10. A will should name an , the person or persons who will administer the payment of your debts and the distribution of your remaining assets, according to your wishes as expressed in your will.
11. You may create a will with instructions for your care in the event that you will become mentally or physically disabled before you die and unable to direct management of your assets.
12. If you appoint someone , you have given them the right to act on your behalf, especially as regards financial and legal decisions.