457(b) | Ed Slott and Company, LLC

457(b)

Multiple Retirement Accounts and RMDs: Can I Take the Required Distribution From One Account?

You or your client has several retirement accounts. Can you take the required minimum distribution (RMD) from just one account? The answer is maybe. Let’s start with what you cannot do. You cannot take the RMD for one type of account from a different type of account.

Differences between 401(k), Roth 401(k) and Roth IRA

We are starting to get asked whether or not there are required distributions from Roth 401(k), Roth 457(b), and Roth 403(b) accounts. The answer is – Yes. Following is our chart that compares some of the features of Roth IRAs, Roth 401(k)s, and 401(k)s.

Slott Report Mailbag: Can I Roll a Non-Governmental 457(b) Plan to an IRA?

This week's Slott Report Mailbag comes to you live from the Arizona Biltmore Resort and Spa and our Fall 2012 Master Elite and Elite IRA Advisor Group Workshop. We answer questions about rolling before-tax and/or after-tax money to an IRA, non-governmental 457(b) plans and rolling money to an IRA during bankruptcy.

IRA Rollover Rules, Buying a Building in Your IRA and Hardship Distributions Highlight Slott Report Mailbag

IRAs are not only different, but the rules governing them can be difficult. The Slott Report Mailbag is here to wade through the intricate details and help consumers make the right choices for their retirement plans, and steer them to able, educated financial advisors who can help them fill in the blanks. This week we received questions on the once-per-year rollover rule, buying a building with your IRA, and what qualifies has a hardship distribution.

Excess IRA Contributions, Company Plans, Roth Conversion Conversation Highlights Mailbag

This week's Slott Report Mailbag includes questions on excess IRA contributions, company plan rules and the Roth IRA conversion conversation. Click to read a Q&A with our IRA Technical Experts.

IRA Rollover Rules, Roth IRA Contributions Highlight Slott Report Mailbag

This week's Slott Report Mailbag includes questions on the IRA rollover rules, making Roth IRA contributions from 457(b) required minimum distributions (RMDs) and the 60-Day rollover rule as it applies to 401(k) plans. We answered the mail this week from the Arizona Biltmore in Phoenix, where we are stationed all week for Ed Slott's Elite and Master Elite IRA Advisor Group Workshop.

Roth IRA Contribution Income Requirements, SEP IRA Restrictions Highlight Mailbag

This week's Slott Report Mailbag includes questions (and our answers) on the income requirements for a Roth IRA contribution, SEP IRAs and governmental 457(b) plans. As always, we stress the importance of working with a competent, educated financial advisor to keep your retirement nest egg safe and secure. Find one in your area at this link.1.

Is a monthly retirement check considered income in order to open a Roth IRA? 


Answer:An IRA contribution must be based on the taxable compensation of the individual for the year of the contribution. Pension, profit sharing or IRA distributions are not considered compensation for the purpose of a contribution to an IRA.

Spousal Beneficiaries, Inherited IRAs and RMD Questions Highlight Mailbag

This week's Slott Report Mailbag answers questions about spousal beneficiaries, inherited IRAs and keeping the Stretch IRA provision (biggest benefit in the tax code!) for your heirs and required minimum distributions.  As always, we stress the importance of working with a competent, educated financial advisor to keep your retirement nest egg safe and secure. Find one in your area at this link.1.Ed:I have your book, but unfortunately it is at my cabin so I don't have access right now. I am inheriting a Roth IRA from my wife, who recently passed away at 65. It was converted to a Roth in December 2008. First question: Is it better to keep it as a separate Roth IRA, or add it into my existing Roth IRA?

In-Plan Roth Rollover Guidance Released

IRS has released guidance on the conversion of 401(k) and 403(b) plan assets to Roth 401(k) or Roth 403(b) accounts in Notice 2010-84. This guidance also applies to governmental 457(b) plans beginning January 1, 2011. Here are the highlights: Plan participants, spouses, and alternate payees who are current or former spouses can do the in-plan Roth conversion.

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