A type of pension plan where the contributions are fixed, but the benefits vary based on investment returns. Employees and sometimes employers contribute to a tax-deferred account with flexible investment options.
A salary reduction plan allows employees to have a certain percentage of their gross salary withheld and invested in options such as stocks, bonds, or money market funds.
A Section 401(k) Plan allows an employee to contribute pretax earnings to an individual account, invested in various financial instruments, accumulating tax-deferred until withdrawal.
A life insurance policy that combines the features of universal life insurance and variable life insurance, allowing policyholders to direct excess interest credited to the cash value account based on investment results in various separate accounts such as equities, bonds, and real estate.
