FAQs tagged as

Retirement Saving Plan

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

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

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

  4. How do I retire?

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

  6. 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?

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

  8. 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

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

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

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

  12. How do 401(k) loans work?

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

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

  15. 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?

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

  17. What is the "stretch IRA" concept?

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

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

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

  21. Which of the following accounts does ERISA cover?

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

  23. What is pension maximization?

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

  25. 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?

  26. What is cliff vesting?

  27. How do I use a conduit IRA?

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

  29. 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?

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

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

  32. Can I establish more than one IRA?

  33. I recently and accidentally established a Roth IRA for my spouse instead of myself and contributed additional monies. What should I do?

  34. If I am entitled according to my divorce decree to a percentage of my ex-husband's IRA, how can I receive the assets due to me into my own IRA without being taxed? Will he be taxed when he makes the transfer? Will the money he may have to pay in taxes the

  35. My husband has a 401(k) account which is 100% vested with an $8,000 balance. We are in foreclosure and need a hardship withdrawal. The investment management company which handles my husband's account says we can't withdraw anything because we have not con

  36. What is a good book on creating a trust that would qualify as the beneficiary for an IRA?

  37. I have a small business, and I'm considering setting up an SEP IRA. What are leased employees? Does this term refer to outside contractors who receive 1099-Rs? If so, how would the 5305-SEP need to be worded to make it acceptable to the IRS?

  38. I stopped distributions from my retirement account while under Rule 72(t). Will this have any effect on future distributions that I do take? Am I subject to the 10% penalty?

  39. I withdrew funds from my Roth IRA to contribute elsewhere. How will I be taxed?

  40. Can my spouse and I use our IRAs to purchase our first home?

  41. Are any special forms or documents required when transferring an IRA/SEP/SIMPLE to a Traditional IRA?

  42. What effect will a prenuptial agreement have on a 401(k)?

  43. Can either a SEP IRA or a SIMPLE IRA be attached in a bankruptcy or malpractice action, or are they safe from any financial judgments like these?

  44. I will be receiving monies from a QDRO executed pursuant to my divorce. I would like to take a portion of the money as a distribution to pay for a new home. What are the tax implications of doing this?

  45. Does the five-year rule apply if a non-spouse inherits an IRA after the required beginning date and the required minimum distribution is not satisfied in the year of death?

  46. I'm having trouble getting my former employer to distribute my 401(k) plan balance to a rollover. Can you tell me the reasons why an employer might delay distributions and if there is a government agency I could contact to encourage the distribution?

  47. How do I sign up for the saver's tax credit?

  48. Earnings within a Roth IRA are tax free, so are these earnings included in the modified adjusted gross income which is used to determine Roth IRA eligibility?

  49. My spouse is the primary beneficiary of my IRA. I also have a contingent beneficiary. Can my spouse still transfer my IRA assets tax-free to her own IRA?

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

  51. I am rolling my 401(k) into an IRA. After a year, can I convert this amount to a Roth IRA tax free?

  52. Can I contribute to both a 401(k) and an IRA?

  53. I just opened an IRA. What can I do to help my money grow?

  54. I understand that I can withdraw from a 401k the year I turn 55 without the 10% penalty (IRS 575). Can I do the same thing with an IRA without the 10% penalty?

  55. What are the "certain requirements" that must be met for substantially equal periodic payments (SEPPs)? Is it taxed at 20%? Is there any downside to the SEPP?

  56. Can a simplified employee pension (SEP) IRA be converted to a Roth IRA in the same manner that a Traditional IRA can?

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

  58. I make over $100,000/yr and my adjusted gross income precludes standard IRA contributions. My contributions to my 401(k) plan at work are limited to about $7,000/yr. It seems I'm being penalized for my income. Are there other retirement savings options av

  59. If an employee covered by a SIMPLE leaves his employer within the two-year period and his new employer doesn't have a SIMPLE, what happens to the plan? Can the employee roll it over without penalty, or keep it at the old company until the two years expire

  60. Should I put money into a retirement account even if it isn't tax deductible?

  61. Can I have a self-directed IRA or Roth IRA using the forex market?

  62. I retired and transferred part of my pension distribution to a Roth IRA. If I am over 55, do I still qualify for the age 55 exemption?

  63. Is there a limit on how much I can move from my IRA to my Roth IRA?

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

  65. 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?

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

  67. 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?

  68. 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

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

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

  71. 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

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

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

  74. 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?

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

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

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

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

  79. 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?

  80. 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?

  81. 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?

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

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

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

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

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

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

  88. 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?

  89. 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?

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

  91. 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?

  92. 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?

  93. 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

  94. 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

  95. 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?

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

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

  98. 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?

  99. 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?

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

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