What does retirement savings plan mean?
Definitions for retirement savings plan
re·tire·ment sav·ings plan
This dictionary definitions page includes all the possible meanings, example usage and translations of the word retirement savings plan.
Princeton's WordNet
pension plan, pension account, retirement plan, retirement savings plan, retirement savings account, retirement account, retirement programnoun
a plan for setting aside money to be spent after retirement
Wikipedia
Retirement Savings Plan
A registered retirement savings plan (RRSP) (French: régime enregistré d'épargne-retraite, REER), or retirement savings plan (RSP), is a type of financial account in Canada for holding savings and investment assets. RRSPs have various tax advantages compared to investing outside of tax-preferred accounts. They were introduced in 1957 to promote savings for retirement by employees and self-employed people. They must comply with a variety of restrictions stipulated in the Canadian Income Tax Act. Approved assets include savings accounts, guaranteed investment certificates (GICs), bonds, mortgage loans, mutual funds, income trusts, corporate shares, exchange-traded funds, foreign currency, and labour-sponsored funds. Rules determine the maximum contributions, the timing of contributions, the assets allowed, and the eventual conversion to a registered retirement income fund (RRIF) at age 71.
ChatGPT
retirement savings plan
A retirement savings plan is a financial strategy designed to help individuals set aside funds or accumulate wealth for use after they retire from work. This plan often involves regular contributions made into a retirement account that typically offers certain tax advantages. Types of retirement savings plan include 401(k), Individual Retirement Accounts (IRAs), Roth IRAs, and pension plans, among others. The objective of these plans is to provide a steady source of income for the retiree. The specific rules, regulations, and benefits of retirement savings plans can vary widely depending on the country, the individual's employment status, and other factors.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of retirement savings plan in Chaldean Numerology is: 4
Pythagorean Numerology
The numerical value of retirement savings plan in Pythagorean Numerology is: 9
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"retirement savings plan." Definitions.net. STANDS4 LLC, 2024. Web. 24 Apr. 2024. <https://www.definitions.net/definition/retirement+savings+plan>.
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