- Introduction
- Deferred and Immediate Annuities
- Payout Phase
- Alternate Annuity Product Features
- Individual Retirement Annuities
- Due Diligence
- Taxes
- Are Fixed Annuities for You?
- Summary
Fixed annuities can also be purchased as part of a retirement plan. In this instance, an individual can contribute to an individual retirement annuity in his or her own name. Spousal individual retirement annuities can also be established.
Note that generally, restrictions and limitations will be the same as those for Individual Retirement Accounts (IRAs). Both Traditional and Roth IRAs can be established, subject to the maximum IRS-allowed contribution and deductibility limitations. Minimum distribution requirements (for Traditional IRAs) must also be met.
If you are purchasing an annuity to fund a tax-qualified retirement plan (IRA), you should be aware that the tax advantages are available with any investment vehicle within the plan, and not unique to an annuity within the plan. Carefully consider the features and benefits of the annuity before making the decision to purchase.
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Franklin Mint Federal Credit Union and Mint Wealth Advisors are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Mint Wealth Advisors, and may also be employees of Franklin Mint Federal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Franklin Mint Federal Credit Union or Mint Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:
| Not Insured by NCUA or Any Other Government Agency | Not Credit Union Guaranteed | Not Credit Union Deposits or Obligations | May Lose Value |
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Financial Learning Center content created by TrueBridge, Inc. The information provided is based upon sources and data believed to be accurate and reliable. The content contained herein is intended for information and illustrative purposes only, should not in any way be construed as a personal recommendation, and should be used in conjunction with individual professional advice.
