Tax Shelter Annuity Enrollment for Part Time Employees Form

Instructions and help about Tax Shelter Annuity Enrollment For Part Time Employees

hello this is financial advisor patrick monroe today we're talking about how tax sheltered annuities work tax shelter means just that uh your accumulation of your money is sheltered from income tax as long as it's in the vessel of the annuity as long as you don't take the money out you're allowed to put money into the vessel for future accumulation and the benefit of the fact that it's talk sheltered means that it will grow upon growth and there is no taxes to be paid however that being said once you hit a minimum age which is 70 and a half under irs guidelines your qualified tax shelter annuity becomes under the guidelines of rmd required minimum distribution and that means that the vessel now has to slowly start to spend itself down the insurance company will send you a check for a birthday of tax sheltered annuity was designed for income in later life this is financial advisor patrick monroe talking about the benefits of tax sheltered annuities