Enter the total current value of this parent’s tax-deferred retirement, pension, annuity, and savings plans. Include IRA, SRA Keogh, SEP, 401(a), 401(k), 403(b), 408, 457, 501© plans, etc.
can someone explain this in simpler terms
The federal government has all these various plans to allow your parents to save for retirement. You will have to ask them how much they have saved in whichever of these plans they participate.
These are the names of retirement accounts. Ask your parents if they have any of these types of accounts and what the total in those accounts is. That is what the Profile is asking for.