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non-spouse beneficiary

A Tale of 3 Cousins and Their Inherited 401(k) Plans

This is the story of Al, Bob and Carl. Each cousin is the non-spouse beneficiary of his father’s 401(k) plan. Their fathers worked together at the local automotive factory for their entire lives and were all covered by the same plan. The default distribution option in the plan for non-spouse beneficiaries is a five-year payout.

Saying "I Do..." Has Its Benefits For Your IRA

With the calendar well into May, wedding season has arrived in full force. You have probably heard the saying that marriage has its benefits. Well, this is especially true when it comes to the IRA rules. If you are married, you may have some IRA options that would not have been available to you if you had not taken the plunge and tied the knot. Here are 4 IRA benefits you may have if you are married.

What Will Happen To the Stretch IRA?

This week's Slott Report Mailbag answers questions on the tax "sweet spot" in retirement, the tax and penalty impact on a non-spouse beneficiary's inherited Roth IRA distributions and the future of the stretch IRA.

You Usually Don't HAVE to Name Your Spouse as IRA Beneficiary

If you are married and participate in your employer's ERISA covered retirement plan, such as a 401(k) or pension plan, your spouse must generally be the beneficiary of that company plan. Even if you didn’t name your spouse as the beneficiary, possibly because you weren’t married at the time you started working there, your spouse is usually automatically treated as the beneficiary of your company retirement plan - but they do not HAVE to be.

What Type of Annuity Can be Rolled Over to an IRA?

IRA questions
This week's Slott Report Mailbag looks at potential annuities that can be rolled over to IRAsas well as a follow-up question on a younger spouse inheriting an IRA. Click to read this week's Q&A with our IRA Technical Consultant.

President Obama's 2015 Budget Includes A Possible Retirement Planning Game-Changer

Yesterday, President Obama unveiled his Fiscal Year 2015 Budget. As has been the case with previous budgets, this year’s version includes a number of proposed changes aimed at retirement accounts. Six out of the 7 provisions detailed below, or similar versions of them, were included in President Obama’s Fiscal Year 2014 Budget last year.

Slott Report Mailbag: What Can I Do If My Husband Didn't List an IRA Beneficiary?

Come rain, sleet, or in this case, a Nor'easter of snow, we still deliver The Slott Report Mailbag with questions about IRA required minimum distributions (RMDs), beneficiaries when one wasn't listed (hint: the spouse isn't automatically the beneficiary) and the Roth IRA conversion rules.

Spousal Waivers and IRAs

You are married and have an IRA. You know you need to name a beneficiary for those funds. But what if you do not want to name your spouse as the beneficiary? Are you required to name him or her? Find the answer below.

Slott Report Mailbag: Can Inherited Retirement Plan Funds Be Converted to an Inherited Roth IRA?

ed slott IRA, tax, retirement planning questions
Summer is almost here, as the unofficial start to the summer season begins with Memorial Day weekend. To celebrate, we open some IRA, tax and retirement planning mail and answer several of your most pressing questions. This week's Slott Report Mailbag looks at some intricate IRA issues along with a question about the provisions in the new tax law.

Slott Report Mailbag: Can I Convert IRA Funds to a Roth IRA as a Beneficiary?

Retirement planning is about time...and it sure does fly. Maximizing your time and planning early (while thinking about how to minimize risk later in life) is quintessential to any successful plan. This week's Slott Report Mailbag examines ages (particularly ages 59 1/2 and age 70 1/2) as they relate to retirement planning.

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