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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Those are all excellent answers but Sheila is referring to a Pooled 401k account and not a participant direct 401k account. In other words, the participants only decide how much to contribute to the plan, not the investment mix. The investment advisor ...(more)
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What other questions did you have that the adviser could not answer?
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Good Afternoon Patrick... I would be happy to help you with this. Do you know the mutual fund symbol by chance? If you would feel more comfortable to communicate by email or phone here is my info... Rick.solt@edwardjones.com 972-239-5630
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Vincent, Did they state a reason why you had to wait a year? If you're no longer working for the company there shouldn't be a restriction.
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Hey Greg- First off, I want to say I hope that the bills are from a successful medical procedure and that everyone is doing well. As mentioned there are some retirement plans that allow for you to take a loan from yourself and you can use that money to ...(more)
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Check with your tax advisor, as most Financial Advisors are not permitted to give tax advice. Monies in qualified plans (401(k)s and 403(b)s are both qualified plans) are accessible without early distribution penalties for medical reasons. You may have ...(more)
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Herbert N Glass Level 18
It is legally permissible for both 401(k) plans and 403(b) plans to offer participant loans for any need that a participant may have - however there is no legal requirement that such plans must have a loan feature. In addition, if a plan does make participant ...(more)
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Denny, If you no longer work for Par Kan and have a retirement account with them you have a few options: 1) You can cash out the retirement account. If it is a 401(k) or other qualified account and you decide to withdraw you will be taxed on the withdrawal ...(more)
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Chris Schiffer Level 14
That is a pretty general question. I cannot make a recommendation withough understand more about your firm's structure and the goals for your participants. There are many options for smaler plans to set up a 401k . It is also possible to set up multiple ...(more)
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Johnny Kang Level 1
Penalty free distributions are allowed beginning at age 59 1/2. You are however allowed to rollover the 401k penalty free to an IRA and either decide to take a distribution (pay penalty) or wait until retirement age. Your going to pay a penalty taking ...(more)
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Randy Brunson Level 14
Hi Jerry, you can withdraw money from an IRA, and perhaps from your 401(k), penalty free, though distributions would still be subject to federal and, if applicable, state and local income taxes. There is a type of distribution, available to those who ...(more)
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Directly to your question, the YEAR in which you turn 55 is what is important and based on that limited information, generally, the withdrawal from your 401(k) would be penalty free. That does NOT mean tax-free...you will still have to pay taxes. That ...(more)
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Good Morning Jose, Do you know whom your plan administrator is? I would be happy to help you with this. Please feel free to email or call me. Rick.Solt@edwardjones.com 972-239-5630
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The best place to start is to call the Broker-Dealer of the old accounts. The Broker-Dealer is the company that holds the investments (Charles Schwab, Fidelity, Vanguard, etc.). i would recommend setting up an IRA and rolling those old accounts into ...(more)
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Peter C. Karp Level 20
Hi Melissa I am sorry to hear about the mold problems you are having in your house. I suggest that you obtain a copy of your Summary Plan Description (SPD) from your employer to find out all of the distribution options available to you. The SPD dictates ...(more)
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