“In Service” 401k Withdrawals—a little known liquidity option By law, you can not take 401k withdrawals, that is, pre-tax salary deferrals, before severance, plan termination, turning 59 1/2, death, disability or hardship (and you can’t roll over hardship withdrawals). However, there are ways to get money out of your 401k plan prior to retirment — through loans and hardship withdrawals. […]
How to Get Company Stock Out of Your 401(k) and Pay the Least Amount of Tax Many workers own stock in their employer’s publicly-traded company. Frequently this stock is held in a retirement plan, such as a 401(k), and rolled into an IRA when people retire because they think that this is their only option. The IRS, however, gives you […]
As of January 2006, many investors have a new retirement savings option: the Roth 401k. And it could potentially be a big boon to those individuals who are approaching retirement and want to save more. First off, the Roth 401(k) isn’t for all seniors. If you’re in retirement, it isn’t available to you, because a s with the traditional 401(k), […]
Now that you’ve retired, are you considering shifting funds from your qualified retirement plan (profit sharing, 401(k) plan, 403(b), etc.) to your personal IRA? This 401k rollover can possibly give you more investment options and greater control over your hard-earned dollars.
Our retirement savings are generally made up of two types: tax sheltered plans (401k retirement plan, IRAs, etc) and regular investments. Both investment growth within and withdrawal from each type trigger different tax consequences. How can we minimize taxation yet maximize 401k investment returns?
Since the advent of Roth IRAs in 1997, millions of investors have converted their traditional IRAs into Roth IRAs, or else rolled their qualified plan balances (e.g. 401k rollover) into traditional IRAs, and then converted the rollover balance into a Roth IRA. But the Pension Protection Act of 2006 allows qualified plan participants to roll their 401k plan, profit-sharing or […]
There can be no question that saving for your own retirement is a financially sound and important thing for you to do, and one of the most common and popular methods of doing this is by investing in a 401K plan at your place of work. But what you may not know is that not all 401K plans are the […]
The decision you make at the time you must take your 401k distribution could make the difference in paying tens of thousands of dollars in income taxes. Here are the major choices available to you. Rollover, Pay Tax or NUA? When its time to retire or leave your current employer: you can rollover the balance to an IRA you can […]