A government retirement account can be opened at any financial institution or bank for having tax advantages of the money you wish to save for your retirement. The government retirement account proposal is such a written document, which depicts how the government protects the savings on opening such an account.
Sample Government Retirement Account Proposal
Proposal prepared by: Ministry of Finance and taxes
United States of America
Intended clients: Employees of our nation
Date of issued: 7th June 2011
Objective of the proposal:
The request of this proposal is made by Ministry of Finance and Taxes on behalf of United States of America. The objective behind this proposal is to request all the working people of the nation to open a retirement account in any government or private bank or financial institution. This would help them to save taxes through various savings plans formulated by the Government of the nation. Even this individual retirement account would save a percentage of their income tax as well.
Benefits on acceptance of the proposal:
- 2% less fees on an account opening at a private bank and half concession on opening an account at government bank.
- The rate of annual interest on the savings would be 4% in private banks and 6% in government bank.
- Income tax concession of 5% on your savings at private banks and 10% concession on a government banks
Last date of proposal acceptance: 5th July 2011
Kindly note proposal acceptance means agreeing to open an individual retirement account and that you have to do within 15 days of the proposal acceptance.
