100 E Crockett Cleveland, TX 77327 281-592-1541 fax 281-593-2866

There are many services available to help you prepare for your retirement - from IRAs to Life insurance. Talk to Danner Insurance about the advantages of the different plans and what will make your money grow. Below is information on one plan, a Tax-Sheltered Annuity. Tax-Sheltered Annuity This Tax-Sheltered Annuity is a contract used to fund special retirement benefits for employees of public educational organizations and certain tax-exempt organizations. Eligibility Employees of these organizations are eligible to establish a Tax-Sheltered Annuity: wPublic schools, state colleges and universities wState departments of education wQualifying non-profit, tax-exempt hospitals and medical schools wParochial schools wReligious organizations wPrivate colleges and universities wFoundations and charitable institutions (This list is not intended as a comprehensive listing of eligible employees.) Distributions wDistributions from a tax-sheltered annuity must commence no later than April 1 on: The calendar year in which the employee attains age 70 1/2 wThe calendar year of retirement (Not applicable with regard to contributions and earnings which accrued in a Tax-Sheltered Annuity prior to January 1, 1987.) Employer contributions, as a general rule, are not included in the employee's gross income, so distributions from a tax-sheltered annuity will be included in the employee's gross income for tax purposes. Early distributions (prior to employee's attaining age 59 1/2) are subject to a 10 percent premature distribution penalty unless a statutory exemption applies (such as the employee's death or qualifying disability or taking a lifetime annuity income). Talk to Danner Insurance about the value of annuities.