What's New for
2006
February 13th. IRS issued guidance on 412(i) plans.
Visit our 412(i) sections for additional information on the regulations and
plans.
Premium financing
life insurance solutions for estate planning and business continuation
needs.
Complete overview of employer
sponsored retirement plans, including 2006 contribution limits and benefits.
Single premium annuity with the ability to
add additional funds in the first year!! This five year product also provides an
additional premium bonus of 1% in the first year.
Increased Retirement Contributions
The changes for 2006 are as follows:
- The maximum 401(k) and 403(b) employee contribution increases to $15,000.
- Taxpayers who are at least age 50 before the end of 2006 can increase
their contribution limits by the following amounts for the following plans
(called the catch-up contribution limit):
- An additional $5,000 for 401(k), 403(b), salary reduction SEP plans, and
457 plans
- An additional $2,500 for SIMPLE plans
- An additional $1,000 for IRAs (both traditional and Roth IRAs)
- Higher Income Limits for Deductible IRAs. If you are
covered by a retirement plan at work, you can take an IRA deduction if your
modified adjusted gross income is less than $85,000 (married filing jointly)
or $60,000 (single or head of household).
The Job Economic Growth and Tax relief Act of 2001
highlights can be found in our IRA center and our Estate Planning section.
Medicaid Qualifying Annuities and Structured
Settlement Annuities.
North American equity indexed annuity offers six
investment options and a guaranteed 5% premium bonus in the first year.
ING Secure
Index Annuity offers 3 growth strategies, annual point to point design and
strong guarantees.
Allianz Life
insurance company is currently offering a 8% bonus on it's Bonus
Maxxx annuity product. Guaranteed first year yields
are as high as 13%!!!
Amerus
is
currently offering the MultiChoice annuity with either a 6 or a 10 year
surrender period. It is an annuity with 6 strategic investment options to choose
from. You can move your money among the competitive investment
options without incurring surrender charges. A checkbook for withdrawals is also
available.
USG is
now currently offering a multi strategy annuity called the Selectra. The annuity
has several investment options to choose from and liberal withdrawal features.
Variable
Annuities ...benefits, definitions and features explained.
Recently added Estate
and Trust planning
pages for those investors interested
in estate conservation. Provides the basics of understanding the use of trusts
in financial planning and estate taxation.
A new
IRA center
with basic information
needed to help those interested in retirement planning. It provides
valuable information concerning the differences between Roth and
traditional individual retirement accounts as well as Simplified Employee
Pensions for small business owners.
SelectDex
Multi-choice product.
Product enables you to allocate funds among three options in increments of 25%
sharing in the gains of the S&P500, Nasdaq100 and the guaranteed interest
option. Great indexed annuity offering choice, control and confidence.
Fidelity &
Guarantee new single
premium deferred annuity from F&G. This
competitive annuity features 5,7 and 10 year interest rate guarantees, along
with the option to withdraw accrued interest free of surrender charges from day
one.
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