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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No one can predict the future. Even the Wall Street bullies. They have a vested interest in keeping you trading. It generates fees for them and the broker. Instead build a prudent globally diversified portfolio at your risk level and remain disciplined. ...(more)
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ERISA, one of the main laws that govern qualified retirement plans, dictates that the plan may not pay any more than "reasonable" compensation for services performed. Further, the services must be necessary. 1) Talk to your advisor about what he is doing ...(more)
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Sarah, if you are confused don't have any tax withheld from your distribution. At the end of the year you will get a tax statement from your IRA custodian and you can use this information when you file your taxes next year. Please keep in mind that ...(more)
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Floyd, In addition to John's answer, some 401k plans have a vesting schedule. This pertains to the company match portion of your account. So, like John mentioned, make an appointment to see your HR department to discuss your options. They will be ...(more)
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John Essigman Level 17
Hi Floyd, 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)
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If you are asking how to find your company plan on the Brightscope site, just go to www.Brightscope.com, click on Research a Retirement Plan and type in the name of the plan in the popup box. It will then come up if Brightscope has information on it. ...(more)
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John Essigman Level 17
Hi Janet Not certain what you want to enroll into so please be more specific. Generally speaking, enrolling into your company’s 401(k) or SIMPLE will require the assistance of someone in your benefits or H/R Department.. Warmest regards John Essigman www.bluecreek.net ...(more)
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Leonard, Are you talking about a company sponsored retirement account? If so, you should contact the HR department of your current or former employer.
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Here is another place to look to trace your old 401k and pension plan.Most plans are required to file an annual "Form 5500" with the U.S. Government. You can search these 5500's for the name of your former employer at free websites like www.freeERISA.com. ...(more)
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Sheila, I feel that you may be paying too much for service. I would start a procedure called "RFQ or Request for Quote" and have a few independent advisors review your current plan. Ask them to benchmark your current situation and not to just quote ...(more)
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You can always change later! Just get started!! Lots of good answers and info here, so I'll just add one more thing. A lot of folks like the 401k because you can contribute so much more to them -- $18,000 in 2015 if under age 50. IRAs are limited to ...(more)
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Sheila, Kudos to you for examining your plan and trying to understand the series of expenses. The advice both Mr. Reid and Mr. Hollowell provided is solid based on our experience. We recently reviewed a $1.8mil plan for a local non-profit with 30 employees. ...(more)
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Hello Sheila, I agree with everything that Mike has stated above but I will elaborate on my experience in dealing with plans of your size and scale. Most 401k plans under $1,000,000 in assets typically have advisor costs ranging between .25 - .75bps ...(more)
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Sheila, Great question! Rather than focus exclusively on the financial advisor's fee structure (I'll come to that later), let's start by exploring the total cost of plan sponsorship. Combining your advisory fees, plan administration fees, mutual fund ...(more)
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If you have an old copy of your account, you can either go to the website listed or call the phone number. If you don't have any old statements, your best bet is to call the HR department of the company you worked form. To make this easier for the future, ...(more)
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