The interest rate that takes the compounding frequency into account

A type of financial product that guarantees annual payments to the owner for a fixed period of time or for a person's lifetime

A contract between an individual and the financial institution that specifies the length of time that the individual will leave a certain amount of money deposited in the account and the interest rate earned.

Refers to the way that interest added to an account earns interest. Compounding frequency, then is how often the bank puts interest you have earned into your account.

Guarantee you a specific amount of income when you retire

Money put into a checking account that can be withdrawn at any time

The employer contributes to the employee's retirement account but does not guarantee a specific retirement benefit.

Set up by the employer, and the employer will generally make some contributions to the plan on your behalf.

The return and ultimate payment is a guaranteed amount

A type of savings account created by the government to encourage people to save for retirement

How quickly you can convert something to cash without significant loss of value

An account that requires you to maintain a minimum balance, has no maturity date pays interest, and offers limited check-writing privileges.

A defined benefit plan under which an employer makes contributions to the plan on the employee's behalf

The original amount deposited in a savings or investment account.

Contributions are not tax deductible, but the earnings from an eligible account are never taxed, even after withdrawal.

Generally pay a little higher rate of interest on deposits than NOW accounts. These accounts are still very liquid in that you can withdraw money at any time

For self-employed people; these function much like traditional IRAs, but they have their own contribution limits.

Deducted taxable income that you pay no federal tax on.

The account's earnings, such as from interest, are not taxed until they are withdrawn after retirement

The return and ultimate payment depend on the performance of the investments

The process of earning eligibility for an employer benefit