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.
1 vote
Mike Johnson Level 2
Hi Brenda: Typically if you want to avoid tax penalties you'll need to roll your 401k into an IRA rather than cashing it out. You can go to a Schwab, Fidelity or TD Ameritrade office or contact them by phone to discuss how to roll the assets out of ...(more)
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Hi James, Under no circumstances 401k plans should limit participants for elective deferrals. Such plan should abide by ERISA (404c) and shall not assign limitations. If what you say is true then such plan should be looked for misguidance from TPA record ...(more)
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Hi Terry, Hindsight is always 20-20 and you'll look back and know that answer in the future. That being said, unless you are trying to be an active investor, meaning you are willing to spend a lot of time researching the markets and the economy, you shouldn't ...(more)
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I need to know more about you to give you accurate advice. Feel free to contact me 646.360.2944 ext 100
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Chris Schiffer Level 11
Parnell, Ryan is correct. The easiest way is to contact HR at Central. Another option is to check the National Registry of unclaimed retirement benefits. https://www.unclaimedretirementbenefits.com/
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Hi Parnell, The easiest way for you to get the information you are looking for is to contact HR at Central. They should have your work record and information regarding the pension. Even if they do not, they should provide you with the pension provider ...(more)
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Hi Parnell, The easiest way for you to get the information you are looking for is to contact HR at Central. They should have your work record and information regarding the pension. Even if they do not, they should provide you with the pension provider ...(more)
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Hello James, Unfortunately for you, it is up to the company's discretion as to what percent they allow their employees to contribute to a 401k. They may have a sound reason for their decision (i.e. You are a highly compensated employee and the plan ...(more)
1 vote
Peter C. Karp Level 20
Terry As the other advisors pointed out, reviewing the Summary Plan Description document (SPD) is the first step to determining the distribution options and time frames associated with your specific plan. There is no rule of thumb as each Plan’s document ...(more)
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Hi Terry. I 'm sorry, but without knowing a little more about you it is not fair for me or anyone to give you advice about your asset allocation. So, I am going to give you some general advice so you can make the best decision for yourself. First, if ...(more)
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As both people mentioned above, the SPD is a great source of information. Further, from the little you posted, it appears they are mentioning two different things: the polled funds and the FBO funds. It sounds like the pooled funds (which are likely ...(more)
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When you enrolled in the plan, you should have been given a Summary Plan Description (SPD). It is the layman's explanation of your rights under the plan. It should cover when and how you can take money out of the plan. If you don't have a copy of the ...(more)
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Ask for a copy of the Summary Plan Document where this will be spelled out. Generally, distributions are available upon termination but not always
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The match refers to how much your employer will add for to your account when you make contributions to assist with with saving in your retirement account. The amount and percentage varies from company to company. A common match is referred to as a safe ...(more)
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The answer depends on what you mean by "get". If you are under 59 1/2 years of age, I assume you would like to roll over your 401k to an IRA. If you are over 59 1/2 you may mean withdraw money from your 401k. Assuming you are under then the easiest ...(more)
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