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FAQs tagged as

Retirement Saving Plan

  1.

    What should you do when you're five years from retiring?

  2. What are the differences between a 401K and an IRA?

  3. How do I retire?

  4. What are Government Pension Offsets, and who is subject to them?

  5. My daughter would like to use some of her Roth IRA to pay for some current tuition fees and loans. Can she do this without a penalty?

  6. I have a 403(b) from a old employer. I would like to convert it to a 401(k). How can I do that?

  7. Our broker switched firms in the middle of 2011. As a result we lost track of our required minimum distribution (RMD) amounts and ended up withdrawing much more than our RMD. Is there a way to defer some of the withdrawal to 2012 to avoid the tax liabilit

  8. What happens during the consolidation phase of an investor's life cycle?

  9. What is the difference between qualified and non-qualified plans?

  10. The reason why ERISA qualified plans should have an investment policy statement is to:

  11. How do 401(k) loans work?

  12. What are the exceptions to the premature withdrawal penalty rules for IRA accounts?

  13. Can I refuse a gift by providing a "Qualified Disclaimer," and what does this entail?

  14. I have a profit-sharing plan with my former employer. I am now trying to buy a home. Can I use my profit-sharing money to put a down payment on a house?

  15. How does an employer benefit from a 401(k) matching plan?

  16. What is the "stretch IRA" concept?

  17. What are the pros/cons of naming a trust as the beneficiary of a retirement account?

  18. Does it make sense to convert a Traditional IRA to a Roth when the market’s down?

  19. What is the difference between early retirement and full retirement as it applies to Social Security retirement benefits?

  20. Which of the following accounts does ERISA cover?

  21. What is the "three-legged stool"?

  22. What is pension maximization?

  23. Is it wise to put an IRA account into a fixed or variable annuity?

  24. I overcontributed to my Roth, then lost half of this money to the market. Does the 6% penalty apply to my original contribution, or only what's left of it?

  25. What is cliff vesting?

  26. How do I use a conduit IRA?

  27. Do I still have to pay penalties and taxes on money that I don't roll over from a DROP fund?

  28. We are in a 401(k) at work. Can we also do a Roth each year? If we can, can it also be deducted from our taxes?

  29. Is a person an active participant in an employer-sponsored retirement plan if he or she was only active for a short time?

  30. What are the penalties for withdrawing from my Traditional IRA less than a year after acquisition?

  31. Is it possible to reverse an IRA? I received a QDRO and owe money to my ex-husband. Is it possible to reverse the QDRO, which was put into a CD Traditional IRA account, without incurring any type of penalty?

  32. I overcontributed to my 401(k). What are my options?

  33. The company I am working for said that 401(k) contribution can be based on only straight time pay! The company I previously worked for allowed me to contribute on gross earnings. Has the law changed, or is the current employer wrong?

  34. I have several Roth IRA conversions, each with different custodians. When I spoke to an IRS representative, he maintained that the total amount of the conversions is always available. He told me that at any time I can take out what I had paid taxes on (wi

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

  36. Is divorce an exception to the SIMPLE IRA's two-year waiting period rule?

  37. What procedure applies to a taxpayer who made excess contributions for 2001, 2002, 2003 and 2004 and has neither withdrawn the excess and the earnings for 2001-2003, nor recharacterized 2004 to a Traditional IRA? How are multiple years such as this to be

  38. I deducted my IRA contribution on my tax return but failed to transfer the funds. What do I do?

  39. Do I need to hit my 401(k) contribution limit before I can begin making catch-up contributions?

  40. I want to roll over a portion of my retirement plan with my employer and I have been advised to ask for separate checks to account for pre- and after-tax amounts. What does this mean?

  41. I want to close my IRA account. What percentage will I lose to tax?

  42. Can I convert non-deductible contributions made to my Traditional IRA to a Roth IRA without being taxed?

  43. What are some of the features and benefits of SEP IRAs and Roth IRAs?

  44. How do I go about opening up a Roth IRA?

  45. I am over 60 years old and have a Roth IRA to which I have made contributions for more than five years. Are all distributions tax free?

  46. I am 52 years old and wish to make a withdrawal from my 401(k) plan. Is there any way I can avoid having to pay additional tax on the grounds of hardship - e.g. unemployment?

  47. Once substantially equal periodic payments (SEPP) of an IRA have started, is the payment fixed each year, or does it fluctuate with interest rates? Can payments be monthly?

  48. How do my siblings and I receive inherited pension benefit payments from our deceased parent?

  49. What are the rules and reporting requirements for a rollover of a required minimum distribution (RMD)?

  50. If I roll my annuity into an IRA and receive after-tax distributions, will this be considered taxable income?

  51. I didn't earn any income this year. Can I still contribute to a Roth?

  52. I have two jobs. Can I contribute to two SIMPLE IRA plans?

  53. What's the best kind of IRA for a 20-something?

  54. I'm a teacher. Which is better for me, a 401(k) or 403(b)? What is the difference? From whom do I get these plans?

  55. I work for a university, and I have a 403(b) with TIAA-CREF. But TIAA-CREF says I cannot transfer money to another provider. Can they prevent me from transferring my money to a better investment?

  56. I have conservative views on investing. How should I go about investing in a Roth IRA?

  57. My 80-year-old mother used her Roth IRA assets to make an $11,000 annual gift tax exclusion. Will these still be considered Roth IRA assets?

  58. I plan to retire in March 2005 at the age of 59.75. When and what percentage or dollar amount can I start withdrawing from my SIMPLE IRA account?

  59. I'm an 80 year old making increasing required minimum distribution (RMD) tax payments. I plan to convert my IRA to a Roth IRA and pay the taxes for the total RMD. Will I be able to withdraw funds from the Roth the year following the conversion? I understa

  60. What is the best retirement plan option for a physician with her own practice, employees and a desire to fund her retirement without making things complicated? She'd like to avoid plans that rely on a stringent income test or require all employees to part

  61. If a trust is named as the beneficiary of an IRA, can the trustee of that trust become the beneficiary without the IRA owner signing the Change of Beneficiary form?

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

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

  64. I have a small business (LLC), which I operate part-time. I also work full time for a company and am enrolled in a 401(k) plan. Am I still eligible to make contributions to an individual 401(k) from earnings of my part-time LLC?

  65. I have several CDs in my IRA with different maturities. Can I roll them over to another institution with a better rate as they mature?

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

  67. Can an IRA be used as security for a loan?

  68. My recently deceased spouse's IRA has been rolled over into mine. Does the cost basis change for me?

  69. I am 59 (not 59.5) and my husband is 65. We have participated in a SIMPLE IRA with our company for more than two years. Can we convert the SIMPLE IRA to a Roth IRA? If we can convert, do we have to pay tax on the SIMPLE IRA money placed in the Roth? Are t

  70. Can investment real estate be purchased within an IRA and, if so, are there any pitfalls?

  71. Can an employer adopt a different type of retirement plan for each employee?

  72. I want to purchase a five-year period certain single premium immediate annuity (SPIA) with my IRA account. I'm 53. Will the 10% penalty apply?

  73. Can I roll my 403(b) and 457 into other low-cost venders when I change jobs?

  74. How do I get credit for my retirement plan contributions?

  75. Can a creditor seize my retirement savings?

  76. What is the difference between a ROTH, SEP and Traditional IRA?

  77. What kinds of investments are allowed in a qualified retirement plan, and what kinds are forbidden?

  78. I do not want to totally get out of my retirement 401(k), but I want to take 72(t) distributions. What should I consider?

  79. Can I move my IRA to a better income-producing opportunity?

  80. Can my spouse and I convert our IRAs to Roth IRAs regardless of earned income?

  81. Are there tax penalties for closing my Roth IRA account?

  82. My mother inherited my father's IRA. When she died, I received an account application listing me as the beneficiary, as well as notice that my brother and I will have to take my mom's required distribution. My brother is nowhere to be found. How should I

  83. Is it easier to save for retirement if you start earlier in life? Can I make up for what I don't save now by contributing more later on?

  84. I have several jobs. Can I contribute the maximum to multiple employer retirement plans?

  85. Will I incur a tax penalty when making withdrawls from my IRA in excess of my SEPP?

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

  87. After receiving a required distribution when and how are my taxes affected?

  88. What is the difference between a Keogh and an IRA?

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

  90. Can I pull out most of my assets from my IRA and use the cash as long as I replace it in the IRA within a year?

  91. I am a teacher in a public school system and I don't presently have a 403(b) plan, but I do have some money in a Roth IRA and also a self-directed IRA. Can I roll my IRA funds into a newly opened 403(b) plan, since I am presently employed by the school sy

  92. I made involuntary contributions to a retirement plan while temporarily employed. Can I withdraw these funds without penalty?

  93. What is the difference between a Traditional and a Roth IRA?

  94. I didn't record my Traditional IRA contributions. Is there a website that lists IRA contribution limits for past years?

  95. I own a small business. Can the SBO-401(k) work for me?

  96. What's the difference between a savings account and a Roth IRA?

  97. Should I start taking my RMD based on the amount in my account when I turn 70.5?

  98. I failed to distribute an inherited 401(k) that was found in an audit. What happens now?

  99. I'm worried about the economy and want to move my IRA funds from stocks and bonds to cash. Will I taxed for this?

  100. If I pass away, will my retirement plan go to my spouse tax free?

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