|
Afore Azteca
Retirement Funds Administrators ( es, Administradoras de Fondos para el Retiro, abbreviated AFORE) are companies authorized to manage individual retirement accounts as authorized by the Secretariat of Finance and Public Credit (Mexico), Ministry of Finance and Public Credit of Mexico and overseen by Comisión Nacional del Sistema de Ahorro para el Retiro (CONSAR). AFORES manage accounts that accumulate contributions by the employer, the Federal government of the United Mexican States, federal government and the employee. Accounts Individual retirement accounts contain four separate sub-accounts which are: *Retirement, lay-off and old age (RCV, "Retiro, Cesantía y Vejez" in Spanish (language), Spanish). This sub-account contains funds contributed by the employer, federal government and employee. **The employer contributes with an equivalent to 2% of the employee's salary to ''retirement'' and 3.15% of the salary to the ''lay-off and old age'' account. Contributions take place bi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Individual Retirement Accounts
An individual retirement account (IRA) in the United States is a form of pension provided by many financial institutions that provides tax advantages for retirement savings. It is a trust that holds investment assets purchased with a taxpayer's earned income for the taxpayer's eventual benefit in old age. An individual retirement account is a type of individual retirement arrangement as described in IRS Publication 590, ''Individual Retirement Arrangements (IRAs)''. Other arrangements include employer-established benefit trusts and individual retirement annuities, by which a taxpayer purchases an annuity contract or an endowment contract from a life insurance company. Types There are several types of IRAs: * Traditional IRA – Contributions are often tax-deductible (often simplified as "money is deposited before tax" or "contributions are made with pre-tax assets"), all transactions and earnings within the IRA have no tax impact, and withdrawals at retirement are taxed as income (e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |