Trending Question and Answers Ask a Question

0 votes
Not really enough info to give a definitive answer, but it seems that your father has the option to take a lump sum distribution from an old retirement plan. It can be taken as a distribution paid to him (taxable) or transferred /rolled over to an IRA ...(more)
0 votes
You need to fill out a Roth conversion form provided by the firm where the IRA is held. Like the other advisor said, you'll owe tax on any growth that's occurred, and that tax will need to be claimed in whatever year you make the conversion. In the future ...(more)
0 votes
Very few plans offer ETFs because it's slightly more difficult to track a target asset allocation when dealing with shares (like an ETF) rather than partial shares (like a mutual fund). Also, intraday trading causes ETFs to be subject to greater order ...(more)
0 votes
You can still contribute to an IRA even though you are able to contribute to a 401k, assuming you do not exceed the annual income limits. here is the link to the IRS website regarding this https://www.irs.gov/retirement-plans/2017-ira-deduction-limits-effect-of-modified-agi-on-deduction-if-you-are-covered-by-a-retirement-plan-at-work ...(more)
0 votes
Here it is a month later and I am now looking at this question for the first time. I am assuming it is directed at a specific company or plan sponsor you were using? You might have to jump through a few hoops depending on how the plan was set up through ...(more)
0 votes
Based on my tax research resources, the short answer is participation in an employer plan will make you ineligible for a tax-deductible IRA in the same year. An employee is covered by an employer retirement plan for a tax year if the employer has a: • ...(more)
0 votes
Vinny Dallo Level 1
Consolidating your retirement plans from previous employers may make sense, but a careful review of your plans should be conducted first. A few points to consider... Do any of your retirement accounts offer a "fixed interest" position? I have some clients ...(more)
0 votes
If you don't need a 401(k) loan and you're interested in simplicity, then yes it probably makes sense to consolidate them in an IRA. In any event, here are some pros/cons: Pros: - 401(k)s may have administrative fees and an IRA may have a better cost ...(more)
0 votes
Chris Schiffer Level 14
Here are some things for you to consider. 1) You don't need to rollover your Company A, You can keep the funds there until you decide whether you want to rollover to Company B. 2) You can contribute to Company B, but the maximum contribution is $18,000 ...(more)
0 votes
Chris Schiffer Level 14
Emily, The management and disposition of a trust is the responsibility of the trustee(s) and should fall out of the probate process. The trust can be for multiple beneficiaries and might not be impacted by the passing of your uncle. It may continue ...(more)
0 votes
Chris Schiffer Level 14
A withdrawal from a Roth IRA (including both your contributions and investment earnings) is completely tax free (and penalty free) if : 1) it is made at least five years after you first establish any Roth IRA, and 2) one of the following also applies: ...(more)
0 votes
Chris Schiffer Level 14
Yes they do: http://www.coca-colacompany.com/careers/us-employee-benefits
0 votes
Depends on your goal. You do forfeit some benefits that are worth considering before transferring. Also, most advisors never talk about the benefit of maintaining the 401k/403b loan option whereas the IRA does not allow for this. Most 401k/403b employer ...(more)
0 votes
It depends on which firm has your 401-K. Your Human Resources Department should have information about how you can access your account. If you need assistance, feel free to contact me and I can walk through it with you.
0 votes
I would recommend that you contact the Human Resources Department of your former employer.
  • posts per page
  • 15