Retirement

  1. Is an employee eligible for an SEP if the plan has already been set up for other ...

    Is an employee eligible for an SEP if the plan has already been set up for other ...

    It depends. The employee should meet not only the service requirements, but the age and compensation requirements as well. ...
  2. Lump Sum Versus Regular Pension Payments

    Lump Sum Versus Regular Pension Payments

    If you're about to retire, you may be facing this dilemma soon. Find out what your options are.
  3. Burdening Your Retirement With A Mortgage

    Burdening Your Retirement With A Mortgage

    Carrying this debt can have benefits if done correctly, but is it worth the risk?
  4. Business Owners: A Guide To Qualified Retirement Plan Loans

    Business Owners: A Guide To Qualified Retirement Plan Loans

    Thinking of adding a loan feature to your company's plan? Here's what you need to know.
  5. 8 Reasons To Never Borrow From Your 401(k)

    8 Reasons To Never Borrow From Your 401(k)

    Find out why dipping into your future savings can have serious consequences.
  6. Pay For A College Education With Retirement Funds

    Pay For A College Education With Retirement Funds

    These savings vehicles may be better than college saving funds for some families.
  7. Does It Still Pay To Invest In Gold?

    Does It Still Pay To Invest In Gold?

    This asset's appeal dates back thousands of years. Find out whether it can live up to the hype.
  8. 10 Steps To Retire A Millionaire

    10 Steps To Retire A Millionaire

    Making this dream come true takes work, but it's well worth the effort.
  9. The company I am working for said that 401(k) contribution can be based on only straight ...

    The company I am working for said that 401(k) contribution can be based on only straight ...

    The regulation (law) that addresses your specific question has not changed. However, both employers may be right. Here's ...
  10. My company has three partners but plans to hire more this year. Would we be better ...

    My company has three partners but plans to hire more this year. Would we be better ...

    It depends.The SBO-401(k) plan is suitable if the plan covers only the business owners - in this case, the partners in the ...
  11. I work for a university, and I have a 403(b) with TIAA-CREF. But TIAA-CREF says I ...

    I work for a university, and I have a 403(b) with TIAA-CREF. But TIAA-CREF says I ...

    It depends. The IRS does permit the transfer of assets between 403(b) providers; however, employers and 403(b) providers ...
  12. Mistakes In Designating A Retirement Beneficiary

    Mistakes In Designating A Retirement Beneficiary

    Make sure your beneficiary designations not only reflect your intentions but also meet the requirements to be effective. ...
  13. Can an IRA owner disclaim his widow's account but exclude one spendthrift contingent ...

    Can an IRA owner disclaim his widow's account but exclude one spendthrift contingent ...

    From your question, it appears that the widow is the sole primary beneficiary, in which case any portion properly disclaimed ...
  14. Did Your Roth IRA Conversion Pass or Fail?

    Did Your Roth IRA Conversion Pass or Fail?

    If you are moving assets from a Traditional IRA to a Roth IRA, you need to know the associated tax rules.
  15. Can I establish more than one IRA?

    Can I establish more than one IRA?

    There is no limit on the number of IRAs that you can establish. However, regardless of the number of IRAs you maintain, you ...
  16. I stopped distributions from my retirement account while under Rule 72(t). Will this ...

    I stopped distributions from my retirement account while under Rule 72(t). Will this ...

    If an individual modifies a substantially equal periodic payment (SEPP), including discontinuing the SEPP before the end ...
  17. What will happen to my SEP IRA if I leave my current employer?

    What will happen to my SEP IRA if I leave my current employer?

    Because the funding vehicle for the SEP is a Traditional IRA, the same transfer and rollover rules that apply to a Traditional ...
  18. Can I roll the funds in an SEP-IRA over to a profit-sharing plan or self-directed ...

    Can I roll the funds in an SEP-IRA over to a profit-sharing plan or self-directed ...

    Yes. Funds can be rolled over from an SEP IRA to a profit-sharing plan, provided the plan document that governs the profit-sharing ...
  19. Can I hold non-dollar currencies in my retirement fund?

    Can I hold non-dollar currencies in my retirement fund?

    Yes. You would need to find a financial institution that can facilitate these currencies in a retirement account. Many are ...
  20. Invest In Your Education With An RESP

    Invest In Your Education With An RESP

    All Canadians should know the benefits of these flexible education savings plans.
  21. The Demise Of The Defined-Benefit Plan

    The Demise Of The Defined-Benefit Plan

    Experts are making bleak predictions for your post-work years. Be prepared and plan for your future.
  22. Why should I bother creating a budget?

    Why should I bother creating a budget?

    Creating and using a budget is a valuable tool for all demographics; it's not just for those who need to closely monitor ...
  23. I am considering taking a loan from my qualified retirement plan. What is the definition ...

    I am considering taking a loan from my qualified retirement plan. What is the definition ...

    For the purposes of a qualified plan loan, the reasonable rate of interest that the Department of Labor provides is one consistent ...
  24. Common Questions About Retirement Plans

    Common Questions About Retirement Plans

    We offer some solutions for the individual taxpayer as well as the small business owner.
  25. The Pension Bill: A Wolf In Sheep's Clothing

    The Pension Bill: A Wolf In Sheep's Clothing

    Find out why the 2006 act may not be all it's cracked up to be.
  26. Be Your Own Boss By Freelancing

    Be Your Own Boss By Freelancing

    Learn the pros and cons before you bid adieu to sales meetings and power suits forever.
  27. Does participation in a 401(k) plan prevent an individual from contributing to a ...

    Does participation in a 401(k) plan prevent an individual from contributing to a ...

    No. An individual's participation in an employer-sponsored plan (including a 401(k) plan) does not affect his or her ability ...
  28. I am 61 years old and would like to contribute to my employer's 401(k) plan. Is there ...

    I am 61 years old and would like to contribute to my employer's 401(k) plan. Is there ...

    There is no age limit. As long as you are still employed by the company that sponsors the 401(k) plan, you may participate ...
  29. If I am no longer employed, can I roll over a 403(b) plan into an IRA?

    If I am no longer employed, can I roll over a 403(b) plan into an IRA?

    Now that you are no longer working with the (former) employer that established your 403(b) account, you may roll your 403 ...
  30. Can a spouse who is not named as a beneficiary receive assets from an IRA?

    Can a spouse who is not named as a beneficiary receive assets from an IRA?

    It depends.Generally speaking, the designation of beneficiary form dictates who receives the assets from the individual retirement ...
  31. How can I reduce the taxes on my inherited retirement assets?

    How can I reduce the taxes on my inherited retirement assets?

    Many beneficiaries miss out on one of the most significant tax deductions for inherited retirement-plan assets; the income ...
  32. Can either a SEP IRA or a SIMPLE IRA be attached in a bankruptcy or malpractice action, ...

    Can either a SEP IRA or a SIMPLE IRA be attached in a bankruptcy or malpractice action, ...

    State law determines whether or not an IRA, including SEP, SIMPLEs and Roth IRAs, can be attached in any bankruptcy proceedings, ...
  33. I have several Roth IRA conversions, each with different custodians. When I spoke ...

    I have several Roth IRA conversions, each with different custodians. When I spoke ...

    It is true that at any time you may take out (distribute) the amount you converted without paying tax on the amount because ...
  34. I am making after-tax contributions to an IRA. Will I get taxed again when I withdraw ...

    I am making after-tax contributions to an IRA. Will I get taxed again when I withdraw ...

    No. Withdrawals of your after-tax contributions to your IRAs should not be taxed. However, the only way to make sure this ...
  35. What are the rules and reporting requirements  for a rollover of a required minimum ...

    What are the rules and reporting requirements for a rollover of a required minimum ...

    An RMD may be transferred between IRAs, but it may not be rolled over once distributed. If the RMD amount is rolled over ...
  36. Do I have to continue SEPPs for an inherited IRA?

    Do I have to continue SEPPs for an inherited IRA?

    You may discontinue the payments. Once the person who is taking the substantially equal periodic payment (SEPP) dies or becomes ...
  37. High-Risk Retirement Portfolio Not Always Taboo

    High-Risk Retirement Portfolio Not Always Taboo

    Find out how much risk your portfolio can take and whether your money will last.
  38. Can I leave my pension to my spouse when I pass away?

    Can I leave my pension to my spouse when I pass away?

    In most cases, an individual with a pension plan should have the option to leave at least a portion of his or her pension ...
  39. Boomers: Twisting The Retirement Mindset

    Boomers: Twisting The Retirement Mindset

    This generation must take a whole new approach to post-work planning.
  40. How does online banking assist with budgeting?

    How does online banking assist with budgeting?

    Setting up online banking can make a personal budget easier to manage through the use of multiple accounts or expense categories ...
  41. I'm 70.5 and still working for my own company. Can I defer starting my required minimum ...

    I'm 70.5 and still working for my own company. Can I defer starting my required minimum ...

    The option to defer starting your required minimum distribution (RMD) beyond age 70.5 is available only if the individual ...
  42. Benefits for Members of the Armed Forces

    Benefits for Members of the Armed Forces

    If your plans have been affected by your time in the combat zone, fear not!
  43. Pension Protection Act Of 2006 Becomes Law

    Pension Protection Act Of 2006 Becomes Law

    Learn how the passed bill can help you save more for retirement.
  44. Can you have a 403(b) and also contribute to a 401(k)?

    Can you have a 403(b) and also contribute to a 401(k)?

    Yes. You may participate in both a 403(b) and a 401(k) plan. However, certain restrictions may apply to the amount you can ...
  45. Who bears the investment risk in 401(k) plans?

    Who bears the investment risk in 401(k) plans?

    Who actually bears the investment risk in a pension plan depends on the type of pension plan that is employed. In a broad ...
  46. Skipping-Out on Probate Costs

    Skipping-Out on Probate Costs

    Don't let bad estate planning lead to unnecessary costs and stress for your inheritors.
  47. Can the non-spouse beneficiary of an IRA name a successor beneficiary?

    Can the non-spouse beneficiary of an IRA name a successor beneficiary?

    Whether the beneficiary of an individual retirement account (IRA) can name a successor beneficiary (second generation beneficiary) ...
  48. I inherited a Roth IRA. What are my options for taking distributions from the account?

    I inherited a Roth IRA. What are my options for taking distributions from the account?

    It depends. Generally, if you are the spouse of the Roth IRA owner and you are the sole primary beneficiary, you may treat ...
  49. Deducting Losses On Your IRA Investments

    Deducting Losses On Your IRA Investments

    In regular accounts in which taxes are not deferred, losses on investments can be included on your tax return. Find out how. ...
  50. Is it permissible for a 70-year-old person to buy an IRA?

    Is it permissible for a 70-year-old person to buy an IRA?

    It depends. For Roth IRAs, there are no age restrictions. For Traditional IRAs, there are no age restrictions if you are ...
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