RETIREMENT

ICHRA plans An Individual Coverage HRA (ICHRA) is an employer-funded HRA that allows employers (of any size) to issue tax-free reimbursement for their employee’s individual […]

What is FSA account A Flexible Spending Account (FSA, also called a “flexible spending arrangement”) is a tax-advantaged healthcare account (Set up by an employer […]

What is a HRA Insurance Plan A Health Reimbursement Arrangement (HRA) is an employer-sponsored type of health-based account for reimbursing employees with tax-free funds used […]

What is a SIMPLE IRA Account Simple IRA meaning A SIMPLE IRA (Savings Incentive Match Plan for Employees) is a workplace retirement plan for small […]

What does HDHP mean in Health Insurance HDHP (High Deductible Health Plan) is a health policy that features low premiums and a high deductible when […]

What is the HSA plan Health savings accounts (HSAs) are tax-deferred savings account that helps contributors save and invest for future qualified medical expenses that […]

Thrift Savings Plan explained A thrift savings plan TSP is a tax-deferred plan available to federal and uniformed services workers which includes the Ready Reserve. […]

How do Catch up contributions work Catch up contributions eligibility  Aged 50 or older You are eligible to contribute catchups to your plan on turning […]

Retirement Plan 457b A 457b is a state or local government-sponsored(and any entity that is tax-exempt under IRC Section 501), non-qualified, tax-deferred retirement savings plan. […]

What is 72t 72t Rule is an IRS rule that allows retirement savers access to retirement accounts before the golden age of 59½ without incurring […]