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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.

QUESTION: At age 80, after I take my required minimum distribution (RMD), can I then do a rollover from my...

After more than two years, we might actually soon be getting answers from the IRS on several important unanswered questions...

We are surrounded with information – and misinformation. Finding accurate up-to-date facts is increasingly difficult. Do an internet search and...

Question: When can we expect final SECURE Act regulations from the IRS? Mike Answer: Hi Mike, No one knows for...

A recent government report highlights how confused 401(k) participants are when they have to decide what to do with their...

Question: Can an individual who is using the age 55 exception to the 10% early distribution penalty roll over a...

If you have an IRA and you are approaching retirement age, you have probably heard the term “required minimum distribution”...

QUESTION: I attended the Mid-Year IRA Planning Opportunities 2024 Webinar on May 14th. I missed the reasons for not naming...

By Ian Berger, JDIRA AnalystFollow Us on X: @theslottreport In a famous “Seinfeld” episode, George Costanza, unemployed, living with his parents...