Retirement

  1. My company is the trustee of our 401k plan (which has 112 participants). What are ...

    The answer may vary depending on the plan provider and the provisions of the plan document. For questions relating to a specific ...
  2. I understand that I can withdraw from a 401k the year I turn 55 without the 10% penalty ...

    You are referring to the rule that states that distributions from your qualified plan (including 401k, profit sharing, money ...
  3. Pension Law Could Reduce Your Payout

    Discover how this act negatively affects your lump-sum withdrawals.
  4. 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 ...
  5. I didn't earn any income this year. Can I still contribute to a Roth?

    Wages from past years can't be used as a basis for making contributions to a Roth in the current year. In order to establish ...
  6. My uncle died recently. He designated my mother and father as his beneficiaries in ...

    It depends. If the retirement plan is a qualified plan, then the plan administrator would refer to the plan document to determine ...
  7. Tax-Free Accounts Make Saving A Snap For Canadians

    In 2009, the Canadian government began allowing citizens to save more tax-free dollars than ever.
  8. Run Your Personal Finances Like A Business

    The principles that contribute to success in business can also help you achieve your financial goals.
  9. 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, ...
  10. Can I add my higher income spouse's name to my Roth IRA in order to raise our contribution ...

    IRS rules prevent you from maintaining joint Roth IRA accounts. However, you may accomplish your goal of contributing larger ...
  11. Can IRA Transactions Trigger The Wash-Sale Rule?

    In 2008, the IRS said: Yes, they can. Find out what this means and how to avoid penalties.
  12. What is the difference between a ROTH, SEP and Traditional IRA?

    The Roth IRA was established in 1996 as the newest addition to the individual retirement accounts (IRAs) available to individuals. ...
  13. 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 ...
  14. 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.
  15. Pension Protection Act Of 2006 Becomes Law

    Learn how the passed bill can help you save more for retirement.
  16. I recently and accidentally established a Roth IRA for my spouse instead of myself ...

    Don't feel too badly. We all make mistakes. The good news is that you may have some time to make the proper corrections.The ...
  17. Once substantially equal periodic payments (SEPP) of an IRA have started, is the ...

    Typically, if you withdraw assets from an IRA or a qualified retirement plan sponsored by your employer while under the age ...
  18. I'm about to retire. If I pay off my mortgage with after-tax money I have saved, ...

    Only you and your financial advisor, family, accountant, etc. can answer the "should I?" question because there are many ...
  19. How do I sign up for the saver's tax credit?

    The saver's tax credit is a non-refundable tax credit available to eligible taxpayers in the U.S. who make contributions ...
  20. I am over 60 years old and have a Roth IRA to which I have made contributions for ...

    Because you meet the five-year requirement (i.e. it has been five years since you first established and funded a Roth IRA) ...
  21. Get Ready For The Estate Tax Phase-Out

    Changes to federal legislation will affect how your assets are treated once you're gone - be prepared.
  22. 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.
  23. Can I move my IRA to a better income-producing opportunity?

    Yes. You may want to compare the IRA products offered by different financial institutions. Once you determine the financial ...
  24. My 80-year-old mother used her Roth IRA assets to make an $11,000 annual gift tax ...

    Under the current version of the law, any IRA or Roth IRA assets that are gifted while the IRA owner is alive are considered ...
  25. Are You Saving Too Much?

    "Spend now! Don't worry about retirement," say some experts. Could they possibly be right?
  26. Why should investors pick less risky investments as they approach retirement?

    Investors must decide for themselves what the term "risky investment" means to them. At age 25, you may feel comfortable ...
  27. Strategic Ways To Distribute Your RMD

    We give you some tips on preserving your nest egg in the face of unavoidable withdrawals.
  28. I retired and transferred part of my pension distribution to a Roth IRA. If I am ...

    The age 55 exception applies only to distributions from qualified plans and 403(b) accounts. Once the assets have been credited ...
  29. IRA Contributions: Eligibility And Deadlines

    Use this checklist for contribution requirements to make your payments on time.
  30. An Introduction To The Roth 401(k)

    The money that you earn today is taxed today, making tax-free retirement withdrawals a reality.
  31. 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 ...
  32. Leaving Inheritance To Children Easier Said Than Done

    Consider your own retirement needs when deciding whether to leave an inheritance.
  33. I am in the second year of taking SEPP distributions from my IRA. Can I transfer ...

    The most recent guidance issued by the IRS and the Treasury Department is Revenue Ruling 2002-62. There is some disagreement ...
  34. If an IRA owner dies after starting required minimum distributions (RMD) but the ...

    If the IRA owner dies after the required beginning date (RBD) and his/her beneficiary is his/her spouse, the spouse beneficiary ...
  35. I am rolling my 401(k) into an IRA. After a year, can I convert this amount to a ...

    There is no provision in the tax law that would allow anyone to convert taxable funds and treat it as a tax-free transaction, ...
  36. Skipping-Out on Probate Costs

    Don't let bad estate planning lead to unnecessary costs and stress for your inheritors.
  37. My certificate of deposit (CD) has just matured and I plan to contribute $10,000 ...

    Your regular Roth IRA contribution can't exceed $4,000 annually. If you are at least age 50 by Dec 31, 2005, you can contribute ...
  38. Is divorce an exception to the SIMPLE IRA's two-year waiting period rule?

    First, some background: during the first two years after a SIMPLE IRA is established, assets held in the SIMPLE must not ...
  39. When should I take my Canadian Pension Plan distributions?

    The Canadian Pension Plan (CPP) is a retirement program from which contributing Canadians may receive payments at the age ...
  40. Are You Buying Annuities Or Mutual Funds?

    Investing a client's money in variable annuties is becoming a target for criticism.
  41. Can I roll my 403(b) and 457 into other low-cost venders when I change jobs?

    It is very likely than you will be able to roll over or transfer these amounts after you stop working for your current employer. ...
  42. 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.
  43. Common Risks That Can Ruin Your Retirement

    These unexpected bumps can sideline your post-work plans and prevent you from riding out your assets.
  44. I'm a teacher. Which is better for me, a 401(k) or 403(b)? What is the difference? ...

    The first step is to check with your employer regarding any retirement plan(s) it provides for employees, as you can only ...
  45. Are there tax penalties for closing my Roth IRA account?

    You can close your Roth IRA account without negative consequences if your total account balance is less than the accumulated ...
  46. Need Retirement Income? Sell Your House!

    Discover 10 tips for making a quick sale and a healthy profit.
  47. I want to roll over a portion of my retirement plan with my employer and I have been ...

    This is based on the rules that an individual can roll over a portion of his or her retirement plan balance, rather than ...
  48. 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 ...
  49. 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 ...
  50. Can I borrow from an IRA without penalty?

    Yes. A 60-day rollover rule applies to all types of IRAs. This 60-day rollover rule allows you to withdraw assets from your ...
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