Examlex
Which of the following statements is INCORRECT?
Full Retirement Age
Age at which a person receives full retirement Social Security benefits.
IRA
An Individual Retirement Account, a saving tool that allows individuals to set aside money for retirement with tax advantages.
401k
A retirement savings plan that is sponsored and set up by an employer for its employees; like other retirement plans, there are strict rules as to when the money can be withdrawn without a penalty and strict contribution limits which change from year to year.
Mortality Table
A statistical table showing the probability of death for each age, used primarily by insurance companies to determine premiums.
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