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Today, more than ever before, assuring financial security at retirement
is one of the greatest challenges facing American workers. With uncertainty
over the adequacy of Social Security to meet the needs of future retirees,
Americans now and in the future will be forced to rely more heavily on
their own resources to support their retirement lifestyle.
At the same time, the world of employer-based pensions is changing.
Much less common today is the employer-sponsored defined benefit plan,
the kind of plan that assures former employees of a dependable income
throughout their retirement years. The pension world is changing to one
in which employees must make the decision to save for retirement. And,
even when an employer plan is available, employees may be required to
make most or all of the contributions.
Funding Options:
- Fixed rate Individual Retirement Annuity
- Fixed rate IRA with High Interest Option
- Variable Annuities available - contact us for information
Highlights:
- Independence - can be opened and funded without any employer participation
- Earns a competitive interest rate.
- Immediate tax benefits - with contributions and/or earnings tax-deferred
until retirement
- Accessibility - funds always available, something not generally true
of employer plans
- Flexibility - there is no minimum contribution in any year, however,
the maximum contribution is the lesser of 100% of your earned income or $4,000 for
years 2005-2007, and $5,000 for 2008.
- If you are 50 years of age or older, you may
contribute an additional $500. You may begin taking advantage of
this increased limit in the tax year you attain age 50.
Contact American Fidelity about this product:
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The information contained
on this product page generally highlights the important features
of the particular American Fidelity product listed, and does not constitute
a statement of contract, nor a complete description of the conditions,
benefits, exclusions and other terms of coverage. The product listed and/or
all benefits may not be available in all states and coverage is subject
to all applicable policy provisions as authorized by the proper state
regulatory authorities. For more complete
information, please consult the terms of the product policy form approved
in your state or contact us.
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