Archives

• MARGINAL TAX RATE

  The amount of tax paid on an additional dollar of income. As income rises, so does the tax rate.

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• LUMP-SUM DISTRIBUTION

  The disbursement of the entire value of an employer-sponsored retirement plan, pension plan, annuity or similar account to the account owner or beneficiary. Lump-sum distributions may be rolled over into another tax-deferred account.

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• LONG-TERM CARE INSURANCE

  Provides coverage for necessary medical or personal care services outside of a hospital setting, such as in a nursing home or the insured’s home.

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