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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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)
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Tunc Tanin Level 5
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)
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Pam Horack Level 20
Hi William! When Hostess filed for bankruptcy, they also froze their pension plan. The plan was taken over by the PBGC - Pension Benefit Guarantee Corporation. Here is a press release from them: http://www.pbgc.gov/news/press/releases/pr11-03.html You ...(more)
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Brian Kuhn CFP® Level 13
Hi there thanks for reaching out. You need to contact the human resources department of your former employer or the investment provider of the 401(k) plan. Do you still receive statements or know how to contacts these entities?
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Brian Kuhn CFP® Level 13
Hi there thanks for reaching out. Sorry to hear of your loss. You need to contact the human resources department of the former employer or the investment provider of the 401(k) plan. Do you still receive statements or know how to contacts these entities?
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Hello Mary, First of I am very sorry that you lost your husband. I know that is very hard. In order for you to claim his 401k account you should contact the customer service number found on a recent 401k statement. The customer service department or ...(more)
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Tunc Tanin Level 5
Most of the time rolling over a 401K to an IRA will give you more choice. Most financial advisors believe that the more choice you have the better for you. More choice also means more complexity and more likely that you will hire a financial advisor. ...(more)
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Brian Kuhn CFP® Level 13
Hi there thanks for reaching out. You need to contact the human resources department of your former employer or the investment provider of the 401(k) plan. Do you still receive statements or know how to contacts these entities?
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Vivian, An independent company that scores (benchmarks) pension plan investments is fi360. If you are looking for benchmarking of pension fees you can get a report on the specific pension plan from Fiduciary Benchmarks.
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Vivian, What are you benchmarking? I've never seen an auditor do anything with performance other than confirm the numbers are correct. Are you looking more for plan cost information for similar plans?
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The answer to which one is the best is too difficult to answer with the limited information. Sometimes a ROTH make sense, other times its a traditional IRA that is best (you should look into your company plan and see if they have a ROTH option too). ...(more)
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Steven Kaye Level 2
Charles, here are some useful contact numbers for you: Kodak Retiree Service Center &Benefits Center: 1-888-719-0488 Kodak SIP Service Center: 1-800-747-4968 KREBA Kodak Retired Employees Beneficiary Association: 1-855-823-5534, www.k-reba.com
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Layton Jacob Cox Level 10
It seems that you will easily be able to determine what plan to get into, but that won't get you to retirement. Tax breaks and benefits are nice and all, but you are the only person that can control your retirement destiny. 38 isn't exactly young, but ...(more)
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Ted Jenkin Level 18
I think Curt's comments are spot on. You really need to assess your income tax bracket and AGI and whether you will ultimately participate to the 401k plan this year to come up with the best option.
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You can actually contribute to a Roth account regardless of your income level, you'll just have to follow an additional step or two. If you are over the income limit you can contribute to a non-deductible IRA and then immediately convert the account ...(more)
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