Pension Protection Act of 2006
The Pension Protection Act of 2006 was aimed at increasing retirement savings. Most notably, employers were allowed to automatically enroll employees in the company’s 401(k) plan.
Expanded IRA Rollover Rules
The Economic Growth and Tax Relief Reconciliation Act of 2001 included provisions that should simplify many investors’ retirement accounts, and possibly decrease the number of separate accounts needed.
Early Withdrawals from Your IRA
Although you may withdraw money from an IRA at any time, these funds are intended for retirement. To encourage you not to touch this money until you retire, the IRS imposes penalties for early withdrawals.
Funding an IRA for Children
With some simple planning, you can turn your child’s summer of mowing lawns into a well-funded retirement account
IRA Basics
Traditional IRAs allow you to save for retirement on a tax deferred basis, while Roth IRAs are funded with after-tax contributions.
Life Expectancy Tables to Determine Required Minimum Distributions IRAs and Retirement Accounts
Once you reach 70½, you are required to withdraw from your IRA. How much do you withdraw? The IRS has simplified the calculation with Life Expectancy Tables to help you calculate your withdrawal.
Divorce and Retirement Plan Assets: The QDRO
A qualified domestic relations order allows retirement assets to be transferred to the other party’s retirement plan or IRA free of any current tax liability.
Qualified Retirement Plans Introduction
Qualified retirement plans provide a method for business owners and employees to save money, tax deferred, for their retirement.
First Financial Steps Part 4: Investing in IRA and Other Accounts
When investing in an IRA, you have limitless choices, unlike an employer-sponsored plan. We have some suggestions to get you started.
First Financial Steps Part 3: Investing in a Retirement Plan
We provide some guidance for the novice-investor on how to invest the money you’re saving.