FAQs tagged as

Retirement Saving Plan

  1. What's the difference between an individual retirement account (IRA) and an annuity?

  2. What's the difference between an individual retirement account (IRA) and a certificate of deposit (CD)?

  3. How Can I Fund A Roth IRA If My Income Is Too High To Make Direct Contributions?

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

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

  6. How do I retire?

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

  8. 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?

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

  10. 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

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

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

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

  14. How do 401(k) loans work?

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

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

  17. 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?

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

  19. What is the "stretch IRA" concept?

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

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

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

  23. Which of the following accounts does ERISA cover?

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

  25. What is pension maximization?

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

  27. 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?

  28. What is cliff vesting?

  29. How do I use a conduit IRA?

  30. 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?

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

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

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

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

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

  36. What do you do for a non-spouse beneficiary receiving a required minimum distribution (RMD) when the plan terminates? Is the purchase of an annuity the only option? Any thoughts on whether an IRA could be opened?

  37. Upon my death, will the beneficiaries of my IRA be compelled to take the entire amount in the IRA as ordinary income, forcing them into unusually high income tax brackets?

  38. If an IRA owner dies after starting required minimum distributions (RMD) but the spouse is under 70.5, can the spouse roll over the IRA into his/her own IRA, and stop RMDs until age 70.5?

  39. What is the five-year waiting rule for Roth IRAs?

  40. I am in the second year of taking SEPP distributions from my IRA. Can I transfer some of the funds to a new IRA with different investment options?

  41. What does the Pension Protection Act of 2006 say about charitable contributions?

  42. Are my IRAs secure against possible liens?

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

  44. I am self-employed and do not need most of my IRA RMD for expenses. Can I reinvest it in Roth IRAs?

  45. Can I close my existing Roth IRA and invest in a new Roth IRA at a different financial institution without a tax penalty?

  46. My company is the trustee of our 401k plan (which has 112 participants). What are the pros and cons of having the company instead of the plan provider/vendor as the trustee?

  47. Can an individual contribute to both a Roth IRA and a Traditional IRA in the same year?

  48. Can I borrow from an IRA without penalty?

  49. I am the beneficiary of an IRA and a Keogh. Can I combine them into one plan?

  50. I am making after-tax contributions to an IRA. Will I get taxed again when I withdraw it (when eligible)?

  51. I am starting a limited liability company (LLC). I will be the sole member. Can I open an SEP IRA? How much tax-deferred money would I be able to contribute each year?

  52. My company has three partners but plans to hire more this year. Would we be better off with an SBO-401(k) or a SIMPLE IRA?

  53. I have just been laid off. Can I use my 401(k) for living expenses now and report it as income next year?

  54. Is my non-qualified Roth IRA distribution subject to taxes or early distribution penalties?

  55. How long does an IRA beneficiary have to take an RMD after the IRA holder dies?

  56. Can I return funds to my Traditional IRA after taking a distribution?

  57. What are the income limits for Roth IRA contributions?

  58. I converted my former IRA to a Roth for tax purposes in 1998, so even though the tax was paid over four years, am I correct to assume that this is now mine to withdraw, if I like, at no penalty? I am 60 years old.

  59. If an individual still has his or her former spouse as the beneficiary of an IRA, does the former spouse receive the assets upon the individual's death?

  60. My wife and I both converted our Traditional IRAs to Roth IRAs in Dec 1998 and have invested the maximum amount each year to date in the Roth. I am purchasing a new home in January. Do my wife and I each qualify for a one-time, tax-free $10,000 "qualified

  61. If I participate in my company’s SIMPLE IRA plan, can I also contribute to another IRA in order to receive a larger tax deduction?

  62. Can I roll over my IRA assets to a sheltered Canadian plan?

  63. What are the tax consequences of a Roth IRA distribution if the IRA holder is younger than 59.5?

  64. Are the deferred earnings in a SIMPLE IRA subject to FICA taxes?

  65. If a company undergoes an acquisition can an employee withdraw 401(k) funds tax free?

  66. Can I return funds to my Roth IRA after I have taken it as a distribution?

  67. My spouse has little/no income. Can I contribute to my spouse's IRA?

  68. I work for two companies. How much can I contribute to each company's SIMPLE IRA?

  69. I am in my mid thirties and have nothing invested for retirement. Is it too late to start contributing for a retirement plan?

  70. Can I roll over a profit-sharing plan to an SEP IRA account without suffering any tax penalties and liquidation of current positions held in this account?

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

  72. Can a person who is retired continue to fund an IRA?

  73. My certificate of deposit (CD) has just matured and I plan to contribute $10,000 of it to my current Roth IRA account. The person doing my taxes can't tell me why I can't make such a large contribution except for my low income - I am a disabled veteran on

  74. Can I fund a Traditional IRA, a 403(b) or a Roth IRA using pension money? I'm 56 years old. What limits apply if I can?

  75. I earn more than the income limit for both a Roth and Traditional IRA deduction. Should I contribute anyway?

  76. I just learned that my 2004 and 2005 Roth IRA contributions are not allowed because my income exceeds the limits. Can I just withdraw the contributions plus earnings without penalty?

  77. Can I contribute to my company-sponsored 401(k) after the company's year-end but before its tax-filing date?

  78. Are there special benefits for U.S. armed forces personnel?

  79. My husband left his ex-wife as his retirement plan beneficiary. Can this be changed?

  80. Can I roll a Traditional IRA into a 529 college account for my grandchild?

  81. Can I, without tax penalties, use the IRA I inherited from my father to buy a home that I will live in? He was 72 and had started taking small payouts on it.

  82. My Traditional IRA has been converted to a Roth IRA. Can I still make a qualified withdrawal as a first-time home buyer?

  83. When should I take my Canadian Pension Plan distributions?

  84. My husband has become eligible for a 401(k) plan (with no matching contribution) at work. How do we get back the $9,000 that we already contributed to our IRA for 2005 without a penalty? My husband earns $144,000/year and we're both over 50 years old.

  85. I am retiree, drawing from my 403(b) annuity. I am the sole employee of my own business. Do I qualify for a SIMPLE IRA account? I want to defer some of my income from taxes.

  86. I am only 17 years old. I don't have a job or pay taxes. Can I contribute to an IRA?

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

  88. Can my spouse and I combine our Traditional IRAs?

  89. What are the exceptions to the early distribution penalty for a non-qualified Roth IRA distribution?

  90. Can I roll my SEP IRA into a Traditional IRA or should I convert to a Roth?

  91. Can I roll my 401(k) and/or IRA funds into a more liquid investment fund without penalty?

  92. I am considering taking a loan from my qualified retirement plan. What is the definition of a "reasonable interest rate"?

  93. Is my 403(b) account owned by me or by the institution?

  94. I am a first-time home buyer. If I take a distribution from my 401(k) to purchase land and a house, will I have to pay a penalty on this distribution? Also, what kind of form will I need to file with my taxes, showing the IRS that $10,000 went toward a ho

  95. I converted a Traditional IRA to a Roth. The conversion was a stock equity with a cost basis of $19,000 in the Traditional IRA. The day of conversion, the value was $34,000. Which amount should the brokerage house use for the 1099-R?

  96. How can I make sure that past IRS errors have been corrected?

  97. Can I add my higher income spouse's name to my Roth IRA in order to raise our contribution limits?

  98. Can an IRA beneficiary roll the IRA over into another account and designate another beneficiary?

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

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

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