How Well Do You Understand Retirement Plan Rules?

Qualified retirement plans, such as IRAs and 401(k)s, have many rules, and some of them can be quite complicated. Take the following quiz to see how well you understand some of the finer points. 1. You can make an unlimited number of retirement plan rollovers per year. A. True B. False C. It depends 2. …

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401(K) Plan Part-time Employee Eligibility Requirements

The SECURE Act which passed at the end of 2019 requires 401(k) plans to include long-term, part-time employees beginning January 1, 2021.  Please note: The SECURE Act mandate does not apply to 403(b) plans and 457(b) plans, which have their own eligibility rules. Employees who are 21 and older who work less than 1000 hours …

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Four Questions on the Roth Five-Year Rule

The Roth “five-year rule” typically refers to when you can take tax-free distributions of earnings from your Roth IRA, Roth 401(k), or other work-based Roth account. The rule states that you must wait five years after making your first contribution, and the distribution must take place after age 59½, when you become disabled, or when …

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Coronavirus Distributions from Workplace Retirement Plans

Relief may be available for employees impacted by Covid-19. The Coronavirus Aid, Relief, and Economic Security (CARES) Acti was signed into law on March 27, 2020. For a short period of time, the Act allows participants affected by the Coronavirus to access funds in their retirement plan accounts through special withdrawal and loan provisions. The …

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CARES Act – Impact on IRAs and Retirement Plans

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).  This stimulus package is designed to provide support for emergency assistance and health care response for individuals, families, and businesses affected by the 2020 coronavirus pandemic. 1 The CARES Act will have a direct impact on …

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