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.
Investment and certain insurance products offered through INFINEX INVESTMENTS, INC. Member of FINRA/SIPC. Rhinebeck Asset Management is a division of Rhinebeck Bank. Infinex and Rhinebeck Bank are not affiliated.
NOT A DEPOSIT | NOT FDIC INSURED | NOT GUARANTEED BY THE BANK |
NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY | MAY GO DOWN IN VALUE |
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