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LSDefine

Simple English definitions for legal terms

retirement annuity

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A quick definition of retirement annuity:

A retirement annuity is a type of savings account that you can set up with an insurance or investment company to help you save money for when you retire. You put money into the account, and it grows over time. When you retire, you can start taking money out of the account to help you pay for your living expenses. The good thing about a retirement annuity is that you don't have to pay taxes on the money you put into the account until you start taking it out.

A more thorough explanation:

A retirement annuity is a type of annuity that provides a fixed income to an individual after they retire. It is a savings account with an insurance or investment company that is established for retirement income. Payments into the account accumulate tax-free, and the account is taxed only when the annuitant withdraws money in retirement.

For example, John contributes $500 per month to his retirement annuity account for 30 years. When he retires, he receives a fixed income from the account every month for the rest of his life. If John dies before he has received all the payments, his designated beneficiary will receive the remaining payments.

Retirement annuities can be fixed or variable. Fixed annuities guarantee fixed payments, either for life or for a specified period. Variable annuities make payments in varying amounts depending on the success of investment strategy.

Overall, retirement annuities provide a reliable source of income for individuals during their retirement years.

retirement | Retirement Equity Act of 1984

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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