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Denise, every plan has a Third Party Administrator, or TPA, which, as the name implies, administers the plan. The TPA needs to ‘amend’ the plan to allow it to make the conversions. So my recommendation is to call HR and find out who the TPA is, cut out ...(more)
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J, I don’t have all the facts, but typically in a 403(b) plan, there are a limited number of vendors that you can select from. They typically offer annuities and mutual funds, though the vendors are most aggressive selling the annuities. And ING is ...(more)
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Kevin, the short answer is, it depends. There are strict rules that restrict the employer from discriminating in favor of owners and highly compensated employees. But there are also formulas that can be used to pass the discrimination testing. In ...(more)
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Anthony, I wrote an article on my blog on this subject. Go to http://www.greenbergfinancialgroup.com/blog/how-do-i-find-my-old-401k-or-pension-plan-0 It covers all scenarios.
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Todd, I wrote an article on my blog on this subject. Go to http://www.greenbergfinancialgroup.com/blog/how-do-i-find-my-old-401k-or-pension-plan-0 It covers all scenarios.
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Joseph, the problem is that you want advice on how to diversify your account. The way to allocate your account is based on primarily your risk tolerance, but also has a variety of other factors. A very important rule for a financial advisor is to ‘know ...(more)
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Stephanie, these costs, both advisory and administrative, can vary widely based on the special circumstances of the group; average account balance, total assets, number of locations, plan design, special service issues, etc
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Hi Leslie, Besides what Jeremy said, I want to add that any 401k withdrawals will be taxable (unless you had post-tax contributions or roth 401k contributions). The age 55 rule only waives the extra 10% penalty on early withdrawals. I don't know your ...(more)
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Urban C Fleming Level 8
Flora, You would need to contact the plan administrator via your HR rep. Before you cash out your 401k, evaluate the tax implications and penalties associated with that transaction. Depending on your age and the amount, the consequences/results will vary.
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Hi Dean, This is a great question. Too many people don’t pay that much attention to the details of their 401(k) investments, especially when it comes to fees. That ends up costing them money in the end. To get a sense of how your own 401(k) plan stacks ...(more)
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Leslie, You are wise to consider the tax implications before withdrawing 401(k) assets! Far too many people try to fix it after the fact. I'd like to clarify a few facts: (1) your husband is separating/separated from service with the provider of the ...(more)
3 votes
I'm sure you'll get several opinions on this question. Without knowing your exact situation, but only general information here are some thoughts... I think you should buy insurance to transfer the risk of pre-mature death or a known expense upon your ...(more)
2 votes
Urban C Fleming Level 8
Casa, To answer your initial question regarding GVUL and retirement, in some cases it is suitable. Keep in mind, there are many ways a VUL policy can go sour if not maintained and used in the correct application. I would not recommend just signing up. ...(more)
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Pension plans are governed by their plan document. I urge you to ask them for the plan document which should state when you can make rollovers or withdrawals. It is possible that your particular plan does not allow rollovers or withdrawals until age 59 ...(more)
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Alejandro, I suggest that you talk with a person who has been trained to understand balance sheets, income statements and evaluation methods. A Chartered Financial Analysis is well trained in the above and can help you with your "looking for more information." ...(more)
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