This information is being provided as general information and is not intended to be legal, financial, or tax advice. Lord Abbett does not provide legal or tax advice.

Adjusted Gross Income includes wages, interest, capital gains, income from retirement accounts, and alimony paid to the taxpayer, adjusted downward by specific deductions (including contributions to deductible retirement accounts and alimony paid by the taxpayer), but not including standard and itemized deductions.

Traditional IRA contributions, plus earnings, interest, dividends, and capital gains, may compound tax-deferred until you withdraw them as retirement income. Amounts withdrawn from traditional IRA plans are generally included as taxable income in the year received and may be subject to 10% federal tax penalties if withdrawn prior to age 59½ unless an exception applies.

A ROTH IRA is a tax-deferred and potentially tax-free retirement account available to working individuals and their spouses who meet the annual IRS income requirements. Distributions, including accumulated earnings, are tax-free if the account has been held at least five years, and the individual is at least 59½, or if any of the IRS exceptions apply. Contributions to a Roth IRA are made with after-tax dollars.

SEP IRA (Simplified Employer Pension Plan) allows certain business owners and their employees to save for retirement. All contributions are made by the employer and are the same percentage of an eligible employee’s pay (up to a maximum of 25% of eligible compensation). Beginning January 1, 2023, employees may elect to have contributions made to their SEP IRA as Roth contributions, where the plan so permits.

A SIMPLE IRA allows small businesses to offer a retirement benefit that enables eligible employees to make pre-tax contributions while the employer makes matching or non-elective contributions. All contributions are made directly to a SIMPLE IRA established for each employee. SIMPLE IRA plans are maintained on a calendar-year basis. Beginning January 1, 2023, employees may elect to have contributions made to their SIMPLE IRA as Roth contributions, where the plan so permits.

A 401(K) Plan is a qualified retirement plan established by employers to which eligible employees may make salary deferral (salary reduction) contributions on an after-tax (Roth contributions) and/or pre-tax basis. Employers offering a 401(k) plan may make matching or non-elective contributions to the plan on behalf of eligible employees and may also add a profit-sharing feature to the plan. Earnings accrue on a tax-deferred basis.

A 403(b) PLAN is a retirement plan for certain employees of public schools and tax-exempt organizations and certain ministers. Generally, retirement income accounts can invest in either annuities or mutual funds. Also known as a tax-sheltered annuity (TSA) plan.

A 457(b) PLAN is a non-qualified, deferred-compensation plan established by state and local governments, tax-exempt governments, and tax-exempt employers. Eligible employees can make salary deferral contributions to the plan. Earnings accumulate on a tax-deferred basis, and contributions are not taxed until the assets are distributed from the plan.

Combining and consolidating assets in an IRA rollover may involve administrative fees and other charges.

There may be fees, expenses, taxes, and penalties associated with early IRA withdrawals.

Lord Abbett will waive (or otherwise pay) the yearly $10.00 custodial fee that would be charged each year on an ongoing basis to every new IRA account and therefore, will not assess a custodial account fee. Fund level fees and expenses are still applicable. Please see the current prospectus.

To comply with Treasury Department regulations, we inform you that, unless otherwise expressly indicated, any tax information contained herein is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties that may be imposed under the Internal Revenue Code or any other applicable tax law, or (ii) promoting, marketing, or recommending to another party any transaction, arrangement, or other matter.

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