111.Funds deposited into an IRA cannot be withdrawn until you retire.
112.In order to qualify as a tax shelter, IRA saving plans must be invested in mutual funds.
113.Withdrawals from an IRA prior to age 59½ generally are subject to taxes and a penalty.
114.Earnings from traditional IRA investments are taxable at the time they are earned.
115.A simple IRA, which allows workers to contribute larger amounts than a regular IRA, is available to employees who work for firms with fewer than 100 employees.
116.The money a worker invests in a 401(k) retirement account reduces that worker's present taxable income.
117.Employers often match part of the contribution of their employees into a 401(k) retirement plan.
118.Large corporations with at least 500 employees can offer their employees a simple 401(k) retirement plan that allows for greater contribution maximums.
119.Many small-business owners invest in 401(k) plans for their retirement.
120.The best way to invest in a 401(k) plan is to use all of the money to buy stock in the company where you work.