annuities are classified as either qualified or non-qualified. A qualified annuity is purchased as part of, or in conjunction with, an employer providedretirementplan or an individual retirement arrangement (such as an Individual Retirement Annuity or a Simplified Employee Pension Plan). If certain r...
Aqualified annuityis a type of retirement account, much like atraditional individual retirement account (IRA), that typically entitles you to a tax deduction for the amount you contribute, up to Internal Revenue Service (IRS) limits. A nonqualified annuity, on the other hand, is not considered...