Answers and Guides from Top Financial Advisors

0 votes
Tunc Tanin Level 6
You may need your spouse authorization in some plans so make sure you contact your HR or plan administrator, every plan is different
0 votes
Contact your employer's HR Dept and request the proper forms for the type of withdrawal you want to do. Some plans let you do this on-line also.
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Brian Kuhn CFP® Level 14
Thanks for asking the question. What's the goal for this insurance? Is it to build cash value for the children to use later in life? Have you had an analysis done on the policies to project out how long they will last based on the current amount you ...(more)
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Tunc Tanin Level 6
They may have moved your money to the new 401k provider, left it at the old 401k provider or cashed it out and sent you a check for the proceeds. If the account balance is less than 2500, they dont need your permission to cash out. If the account size ...(more)
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John Essigman Level 12
Hi Marjorie, Generally speaking… when you turn 65. However, every plan is different and some allow you to begin distributions much earlier. Possibly as early as 55. Pensions payouts are generally taxable as current income. Some pensions allow a lump-sum ...(more)
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John Essigman Level 12
Hi Billie, Generally speaking, all accounts would be moved from an old 401(k) provider to the new. Therefore, start your search here. Call the H/R or Benefits Administrator and find out who the current carrier is then call that carrier. You may be ...(more)
-2 votes
James Holland Level 18
Ingrid it is outrageous that you are left with only TDFs as an option. You clearly have a Plan Sponsor who takes not interest in truly helping their employees obtain their retirement goals. Have they given you any documentation as to why this change was ...(more)
0 votes
That depends on a number of things which can be answered by your employer's (or former employer) Human Resources Dept. There is usually a formula that incorporates your years of service and your age. e.g. - age 55 with 30 years service, age 60 with 20 ...(more)
-1 votes
We have worked with a union for many years. It sounds to me like you are wondering if you can get a better return outside of your annuity. Of course, the answer is not that simple. "It depends." One could look at your annuity's historical interest payments ...(more)
3 votes
I agree with Biran and Tunc. It may not be fun or sexy, but it is effective. If you expect a 2030 retirement date and want to be more aggressive, then go into a 2040 fund. Don't think that's diversified? Look under the hood. You will likely find ...(more)
0 votes
You will now (or soon) be using the Xerox 401(k) plan, to find info about the investment options contact Xerox's Human Resources Dept.
1 vote
Tunc Tanin Level 6
This is one issue with smaller 401k plans, we are seeing more and more pushed into target date funds. If your 401k allows you to pick which target date fund you can adjust your portfolios risk by choosing a higher or lower risk target date fund. This ...(more)
0 votes
John Essigman Level 12
Hi Brian... You can find more info regarding this company... http://www.brightscope.com/form-5500/basic-info/2894267/York-International-Llc/15556578/York-International-Llc-401k-Salary-Savings-Plan/2013/
0 votes
Peter C. Karp Level 20
Maria In order to take a withdrawal from your 401(k) you will need to complete the distribution request forms. First of all, I would contact the HR department at your former employer and find out about your distribution options given your disability. ...(more)
4 votes
Ingrid - Thanks for the question. In reality, you are not losing diversification, at least from an asset class standpoint. Target date funds offer a single solution for a fully-diversified, professionally managed investment portfolio. Arguably, the ...(more)
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