Examlex
Which of the following is a latent function of the educational system in the United States?
Traditional IRA
An individual retirement account allowing individuals to direct pre-tax income towards investments that can grow tax-deferred until retirement withdrawals.
Minimum Distribution
The required minimum amount that must be withdrawn annually from retirement accounts after reaching a certain age.
Plan Balance
The total current value of an individual's account in a retirement plan, reflecting contributions, investment gains or losses, and withdrawals made over time.
Simplified Employee Pension
A Simplified Employee Pension (SEP) is a retirement plan that allows employers to make contributions to the retirement accounts of their employees, simplifying the process for small businesses.
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