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The Slott Report
A Tale of 3 Cousins and Their Inherited 401(k) Plans
Wednesday, October 04, 2017
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
Monday, May 23, 2016
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?
Thursday, September 17, 2015
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
Tuesday, August 26, 2014
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?
Thursday, July 24, 2014
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
Wednesday, March 05, 2014
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?
Thursday, February 13, 2014
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
Friday, June 21, 2013
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?
Thursday, May 23, 2013
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?
Thursday, February 21, 2013
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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