What's more, workers can invest in collective trusts only in ERISA-qualified plans, according to Ms. Nordquist. (ERISA stands for Employee Retirement Income Security Act.) That means CITs aren't available to retail individual retirement accounts, 403(b)s, government-sponsored 457(f) plans or any executive deferred-compensation non-qualified plan.

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Inflation and interest rates were coming down from high levels, household leverage was very, very low, financial innovation non-existent, consumption had been deferred, and demography was coiled as the baby boomers were just coming on line.

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Deputy Adam said some non-emergency procedures and treatments would be deferred from December to January.

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They were issued by Manulife (subsequently taken over by John Hancock) and were called Flexible Purchase Payment Deferred Combination Fixed and Variable Annuity Contracts Non- Participating.

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The deferred income on the policy is used to pay non-deductible interest.

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The primary benefits of contributing to an IRA are the tax deductions, the tax-deferred or tax-free growth on earnings and, if you are eligible, the non-refundable tax credits.

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