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Hello, If someone retires and qualifies for the rule of 55, can they roll over money from a previous employer...

• Emergency Access to Retirement Funds
• The Beneficiary Form Reigns Supreme — Even After 28 Years
• Tax Considerations for Savvy Beneficiary Planning by Bob Morrison

Emergency Access to Retirement Funds

• Kohl Case
• Financial Emergencies: New 10% Penalty Exception
• Hardship Withdrawals
• Pension-Linked Emergency Savings Accounts: New 10% Penalty Exception

• There is no specific exception to the 10% penalty for hardship;

A recent survey found that over 80% of 401(k) plans now offer employees the option of making Roth 401(k) employee contributions. More and more employees are now taking advantage of that opportunity. (In this article, I use the term “Roth 401(k) contributions” to also include Roth employees made to 403(b) and municipal 457(b) plans.)

Permalink Submitted by Douglas Bauerband on Wed, 2024-06-19 20:14 Wow they do not make it easy. She (his mom) was 75 and taking...

A client who’s the owner of a traditional IRA is requesting a “customized” beneficiary designation for his IRA.  Currently his...

Vanguard recently announced that it will no longer be offering SIMPLE IRA plans, and that, instead, it is transitioning all...

You have been contributing to your IRA for years. The market is up, and you are watching those investments grow. Maybe you have rolled over funds to your IRA from your company plan. You may now have a significant balance. So far, you have taken smart steps toward a secure future. Don’t stop your careful planning there. 

Looking for feedback on SIMPLE IRA contribution deadline. Typically, salary deferals need to be made by January 30 (30-days after...

It is perfectly acceptable for a person to participate in multiple work plans in the same year (even at the same time). For example, a 401(k) and a SEP. Or maybe a 401(k) and another 401(k). However, care must be taken to follow IRS contribution limits and other guidelines. Unfortunately, people try to circumvent these rules all the time.

Client’s mother died in 2023 and left daughter as beneficiary of her IRA.  Daughter is a non eligible designated beneficiary.Has...