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.
0 votes
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)
0 votes
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)
0 votes
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)
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)
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)
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)
0 votes
Tunc Tanin Level 6
is this a question from the general public or someone in the industry trying to get our take on a new product?
0 votes
John Essigman Level 12
Hi Paul, This is a very broad question and you are not giving us much information. In short, it depends on what type of retirement plan you currently have. Speak with your H/R Department, benefits coordinator, or plan administrator regarding your plan. ...(more)
0 votes
There are a few things to consider when discussing "closing out" a 401(k) account. Do you have an email address or phone number where I can give you a little more insight?
0 votes
Are you referring to your 401(k) with the company?
0 votes
You need to contact your plan administrator. The plan administrator is likely the person within your current or past human resourced department. This person will provide you access to your 401k plan. The Administrator or financial advisor (if they have ...(more)
0 votes
John Essigman Level 12
Hi Detri Generally agree with Herbie... the QDRO should be detailed in the divorce decree and that is really all you need to move forward. Call the Plan Administrator or T Rowe Price to find out what you need to do to setup your own account. Not clear ...(more)
0 votes
Hello Mary, you have my condolences. The way to get the 401(k) has been outlined very well by John and Brian. However, this is one piece of a larger financial situation. Whenever you have a life changing event, it is an excellent time to assess your ...(more)
0 votes
Tunc Tanin Level 6
You would not find anything in the code, because the tax code only mentions when a tax deduction is allowed and under what circumstances. Yours is not one of them. There is no tax deduction for buying years at a Defined Benefit plan. It is optional. If ...(more)
  • posts per page
  • 15