Business / Taxes / Self-Directed Retirement Plan: If you participate in a salary reduction retirement plan, such as a 401(k) or a 403(b), you usually must select the investments into which your contribution goes from a menu of choices your plan offers. When that’s the case, your plan is self-directed, and the income you receive when you retire is determined in part by the investment choices you make. Individual retirement plans (IRAs) are also self-directed plans, as you choose the way that the assets in the plan are invested. In contrast, if you’re part of a defined benefit pension plan, your employer is responsible for making the investment decisions. If you own a fixed annuity, the insurance company makes the investment decisions.
Plan Noun Synonyms: design, layout, blueprint, scheme, method, procedure, system, arrangement, programme, project, formula, pattern, script, scenario
Business / Finance / Planning Horizon: The length of time a model or investor or plan projects into the future. MORE
Business / Real Estate / Planned Unit Development (PUD): A relatively modern concept in housing designed to produce a high density of dwellings and maximum use of open spaces. This efficient use of land allows greater flexibility for residential land and de MORE