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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Shayne, you should simply contact this employer and inquire. They should be able to give you all the information you need. Also, do not necessarily rollover this 401(k) asset to an IRA without first speaking to a good advisor because there are pros ...(more)
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Sarah, Each custodian has a different form to fill out for a distribution. The form will have a section for Taxes. They usually will give you a few choices such as (1) Opt out and do not withhold Federal Income Tax or (2) Elect a percentage to be withheld. ...(more)
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In addition to the great advice above, you can talk to your custodian about this. The custodian is the organization that holds the money in the account. You can ask them to withhold the taxes so you will not have to pay this later on. You need to speak ...(more)
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Sarah, That's a good question and depends on a few details. Regardless, you will pay a percentage on the withdrawal and the amounts in your traditional IRA are not taxed until they are withdrawn. If you are 59.5 or older, you will be subject to income ...(more)
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John Essigman Level 17
Hi Joseph, Brightscope shows form 5500 for plan year 2013 with Fidelity as the custodian, so the information is somewhat dated. I was associated with ING some years back and we used Pershing LLC as our custodial platform. Voya may very well be the ...(more)
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Great question and the answer for me is "Real Returns" are what matters for those who have most of their assets in a portfolio mixture of stocks and bonds. If inflation is 6% and my portfolio returns 10%, than my real return is 4%. If inflation is 4% ...(more)
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Many people forget to roll their 401(k)s into IRAs when they leave an employer. Then if the former company closes, these accounts are usually difficult to find. To track down a missing 401(k): contact the Department of Labor’s Employee Benefits Security ...(more)
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As a participant in the ESOP you are entitled to the same information that ERISA entitles to participants of other retirement plans. Specifically you are entitled to a “Summary Plan Description”, “Annual Statement” regarding your accounts status, a “Summary ...(more)
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Here is some useful info on the difference between 401(k) and 403(b) plans. 403(b) plans may be structured two different ways; 1) Non-ERISA voluntary plans, typically used by educators and have multiple providers available for their participants, usually ...(more)
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I agree with everything stated above but also wanted to give you more information regarding ESOP's you may not be aware of. ESOP's are tied to a company's value and are typically valued once per year. You can rollover your ESOP into an IRA or withdraw ...(more)
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Hello Timothy, A few extra thoughts to go along with the above great advice. There are some differences between 401(k)s and IRAs. One major difference is the early retirement withdraw ability from a 401(k) at age 55, as opposed to the traditional IRA ...(more)
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Bryan J Bentley Level 5
The company administering the ESOP is required to send an annual statement to all plan holders. There may not be a payroll deduction shown on your pay stub, as many companies make plan contributions on behalf of the employee, but that is certainly a ...(more)
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Angela, I agree with Greg as stated above, you can start by contacting the company's HR department to ask if you have a balance in the ESOP. You can also contact the service provider to ask if you have a vested balance in the ESOP. Your paystubs should ...(more)
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Greg Wells, CFP Level 3
Hello Angela, Usually the easiest way would be to contact the employer you work for, and they should have that information. If you work for a larger company, possibly start in the HR department and hopefully someone can direct you to that information.
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Tara, I would contact the HR department at the former employer or review any pension plan paperwork that your father had for the contact information for the pension plan administrator. The plan administrator would require a death certificate to be able ...(more)
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