Personal Pension Account
An efficient way to manage large sums
The Personal Pension Account can be the perfect solution for your 401(k), IRA or Certificate funds, or if you've obtained a significant amount of money through an inheritance or court settlement.
If you are using IRA funds, the interest continues to accumulate tax-free. Distributions from a Traditional IRA are subject to taxation as ordinary income. Outside the IRA program, the individual is taxed on interest earnings on the account for the year, regardless of the distribution.
- $50,000 minimum balance with no maximum (additional deposits not allowed)
- Variable rate tied to 3-Year Treasury Rate, plus .25% margin (adjusts quarterly)
- Choose payout terms between 5 and 25 years
- Program guaranteed until the end of each three-year interval
- Option of a residual balance at end of the payment period
- Standard penalty for early withdrawal in three-year intervals with standard grace period in between (waived in the event of death)