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Volume 6 Number 10





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QUESTION OF THE MONTH

Can I Open and Convert a Non-Deductible IRA to a Roth IRA?

Q: Can a person over 50 years old, who has made $215,000 year-to-date in 2013, has already put $23,000 in a 401(k) plan in 2013, open a non-deductible IRA and convert it to a Roth IRA this year? If so, how much can be put into the IRA? The person may not have earned income in 2014. Answer

OCTOBER KEY FOCUS

When NOT to Roll Over Company Retirement Funds to IRA

When you switch jobs or retire, you are generally entitled to a full distribution from your company retirement plan funds such as a 401(k). You must be given the option to roll over those funds to an IRA. Certainly, a rollover to an IRA is a great decision most of the time. Read More

RULING TO REMEMBER

60-Day Rollover Requirement

In this month's Ruling to Remember, we take a look at Private Letter Ruling 201339002, submitted in late September 2012 as a waiver request to the 60-day IRA rollover requirement. She finally settled on a new bank, but was informed that her rollover contribution could NOT be accepted... Read More

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TWITTER TALK

@theslottreport: If #401(k) plan has no beneficiary named at time of participant's death, ERISA normally requires surviving spouse to be beneficiary.

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