Answers in Retirement Plans

Your personal retirement plans will have to be your primary method of funding your retirement and you should consider all the tools at your disposal to plan for and achieve your retirement goals.
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Daniel Glanville Level 10
I agree with my colleagues, that you need to make sure you can take a withdrawal or do a rollover. If it a 401(k) with an old company this should not be an issue. However, if it is with a current company you will have to check the specifics of your company ...(more)
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If you roll over your 401K to a brokerage account set up as an IRA rollover account, almost all investment options are open to you...mutual funds, exchange traded funds (ETFs), options. There is one restriction...the IRS does not allow borrowing from ...(more)
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Are you looking to roll out of your 401k plan all together and go to an IRA or are you just looking for other options inside of your current 401k? If you want to roll out of your plan, your plan must offer non hardship withdrawl and then you can roll ...(more)
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I would strongly consider rolling your current 401K account into a VOYA IRA for starters. If you are satisfied with the portfolio mix, rate of returns and institutional pricing, then remain in that account. However, this will give you time to research ...(more)
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Vanguard is the low cost leader, if low cost is indeed what you are looking for. For a small additional fee, they will even provide some very generic asset allocation advice. Of course, if you want cheap and generic you could just buy a Target Date ...(more)
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Hi Timothy, Congratulations on your recent retirement. I hope you have some good plans to enjoy your time. You are asking a great question about where to rollover your 401k (or 403B), as there are many choices available. I think the bigger question and ...(more)
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Hi Timothy! Here are some questions to think about. Who do you call to put out a fire? A fireman. Who do you see when you break your leg? A doctor. Who should you listen to regarding your retirement? A financial planner. Your friend may have some good ...(more)
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Hi Tim, I hope my reply finds you doing well. I am not sure how much Vanguard will charge you to manage your rollover funds. Vanguard is known for being the "low cost provider" and from 20 years investing experience I can tell you that cost shouldn't ...(more)
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Robert - In rare cases, some plan documents allow for you to continue paying on your loan, even after separation. In such cases, the loan is not a deemed distribution as long as you continue to make regular payments on the loan via EFT, assuming you ...(more)
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Generally, the date of separation is considered the date of distribution and therefore tax and penalty obligations are created as of the date of distribution although in most cases you have 60 days after separation to "correct" it. The company should ...(more)
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Debra - Simplest answer for now. KEEP the money in your 401k and do NOT roll it to an IRA (yet). IRS Publication 575 is very clear that if you are no longer working at your employer (separated from service) then you can withdraw from the 401k with no ...(more)
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So sorry to hear that. Depending upon the options in your 401k, and the amount of assets within it, really determines what you should do. If the 401k is sizable, but the investment options are few, you are missing out on diversification, therefore, doing ...(more)
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One other detail - in my experience, 401k plans generally do not allow an employee to do a partial transfer and leave remainder in 401k so it has to be all or nothing. That said, you could take a distribution in part as cash and roll over the remainder ...(more)
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Peter C. Karp Level 20
Hi Dwight, First you must be sure that you qualify for a Roth IRA which has a net income limitation of $173k. If your net income is above this point, you will be unable to contribute with tax-exempt earnings (this depends on filing status). Roth IRAs ...(more)
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Sung T Chang Level 3
IRS code, §72(t)(2)(A)(v) allows you to actually access your 401k funds without penalty at age 55. So, if liquidity or access is important, keep it in the 401k. Moving the funds to an IRA will expand the access age with penalty to 59 1/2, so if you ...(more)
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