Tax Sheltered Annuities - OH
Insurance Continuing Education in Ohio
Your Price: $19.95
5 credit hours
* A roster fee of $1.00 per credit is required to file Insurance Continuing Education credit in Ohio. That fee is collected as part of your purchase and is then used to pay for the filling of your credits.
If purchased today, this course must be completed by:
December 31, 2024 (257 Days)
CE for CFP® Professionals
Tax Sheltered Annuity Plans discusses the personal retirement savings plan available to employees of certain non-profit organizations and public schools under §403(b) of the Internal Revenue Code. The course begins with an examination of both employer and participant eligibility. The general limits on contributions are examined, and the special catch-up contributions are considered. The nature of the salary reduction agreement is discussed.
The rules governing premature and required distributions are discussed, and the limits applicable to participant loans from tax sheltered annuities are considered. The maximum loan repayment schedules are addressed, and the consequences of loan default are explained.
Estate and gift tax rules are discussed. The income tax treatment of plan contributions and distributions is examined, including:
- Premature distributions and exceptions to the 10% tax penalty
- Mandatory 20% withholding on certain lump-sum distributions
Permitted tax sheltered annuity investments are discussed. The term “annuity,” when used in a 403(b) plan includes incidental life insurance, a fixed annuity or a variable annuity. Custodial accounts may be used to fund tax sheltered annuity accounts. Through custodial accounts, a participant may purchase redeemable shares in an open-end mutual fund.
Finally, the course discusses the various plan requirements. Among the issues examined are the:
- Participation, coverage and non-discrimination requirements
- Non-forfeitability requirements
- Distribution requirements
Upon completion of this course, the student will be able to understand:
- The tax sheltered annuity plan rules with respect to:
- eligibility of participants,
- eligibility of employers,
- contribution levels and
- tax treatment of contributions.
- The rules governing catch-up provisions and the increase permitted to the limit on elective deferrals.
- The benefits of tax-deferred accumulation.
- The nature of and limitations as to permissible tax sheltered annuity funding vehicles.
- The rules governing tax sheltered annuity distributions, loans and rollovers and their tax treatment.
- The general tax sheltered annuity plan requirements.
Exam Details
Course Details
Rules for Ohio Insurance Continuing Education
- Course material may not be downloaded.
- Exam is closed book.
- For all online and self-study courses there must be an exam which consists of a minimum of 10 exam questions per each hour of approved continuing education credit.
- All exam questions must be constructed in a four-alternative multiple choice format.
- Payment is required prior to accessing course materials.
- A provider shall prevent access to the course unit/chapter questions and final exam before the agent reviews the course materials in their entirety.
- An affidavit of personal responsibility must be completed prior to the processing of credits for continuing education. The affidavit is to be made available only after the course examination is successfully completed.
- Student information will not be sold or distributed to any third party without prior written consent of the student. Taking the course shall not constitute consent.
- The state of Ohio charges an additional fee of $1.00 per credit hour.
Provider Rules for Ohio Insurance Continuing Education
- A course will not be considered complete until all requirements of that course are fulfilled including the review of course material, completion of exam with a passing grade, and the receipt of any additional paperwork that may be required by your state Department of Insurance including but not limited to an Affidavit of Personal Responsibility.
- State and certification rules and regulations must be adhered to at all times. In the event of a conflict, the state or certification rules and regulations will always take precedent over any provider policies. Applicable rules of your state and/or certification are listed above.
- A final exam is required at the end of each course. All exams are multiple choice with the quantity of questions increasing exponentially depending on the number of hours available for credit. Each exam attempt will consist of a new set of randomly selected questions and answers.
- Courses are available for one year from the date of purchase unless otherwise indicated. This time frame may be impacted by course expiration dates, course content updates, or author/company restrictions on availability.
- In order to be eligible for a course refund, the student must request a refund in writing within one year of the purchase date. To be eligible for a refund, the course must be intact, meaning the student has not yet begun the course material. If the student is entitled to a refund, InsuranceStudy will refund the purchase price using the original method of payment. If the student has already started the course material, the student is eligible for an exchange to a different course of the same or greater value with any difference in price due at the time of the exchange. In the event the exam has been accessed, no refund shall be granted.
- Students cannot be guaranteed that they will receive a passing grade.
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- Student information will not be sold or distributed to any third party without prior written consent of the student. Taking the course shall not constitute consent.
- Each exam must be answered with a minimum of 70% correct to achieve a passing grade. Some specialty certification or designation courses may have a higher passing standard and those exams will be subject to the higher requirement.
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