Examlex
Which of the following terms is considered obsolete by the NJCLD?
Coverdell Education Savings Account
A tax-advantaged saving account designed to pay for education expenses from elementary through post-secondary education.
Qualified Education Expenses
Expenses for education that qualify for tax benefits like deductions and credits, usually including tuition and fees.
Annuity Contract
A financial product sold by insurance companies that pays out income, and can be used as part of a retirement strategy to provide a steady income stream in later years.
Life Expectancy Tables
Charts used by the IRS to calculate required minimum distributions for retirement accounts.
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