Younger workers, however, could invest some of their payroll taxes into higher-risk, potentially higher-yield,
Individual Retirement Accounts. Proponents of this approach assume that payroll taxes from the work force will perpetually support current retirees.
Instead, roll the money over into an
Individual Retirement Account or into your new employer's 401(k) plan.
1.219-2(d) defines an "active participant" for
individual retirement account eligibility purposes as, for the first year of participation in a plan, a person who participates as of the later of when a contribution is made or allocated.
The taxpayer sought to roll over the cash into an
individual retirement account and keep the employer stock.
For Evans, this systematic monthly investing plan is facilitated through an
individual retirement account (IRA) for self-employed persons known as a SEP-IRA.
A fee-only financial adviser usually will recommend a variable annuity only when the client has maximized qualified pension plan and
individual retirement account contributions--and has cash left to invest.
The Service has held, in Letter Rulings 9931048 and 9931049, that multiple beneficiaries of a single
individual retirement account (IRA) may use their own individual life expectancies to calculate their required minimum distributions instead of using the oldest beneficiary's life expectancy, when the IRA owner died before his minimum required beginning date (RBD).
IR-1999-78 provides that taxpayers have until the end of 1999 to change Roth
individual retirement account (IRA) contributions or conversions for 1998 back to traditional IRAs.
If money is tight, premiums can be paid by using funds in an
individual retirement account or 401(k).
The survey found that the top reason for moving funds from a retirement plan to a rollover
individual retirement account was an existing relationship with a provider outside of the plan.
401(k) plan into an
individual retirement account (IRA), because he is only age 50.
In 1995 a taxpayer took early retirement and received a $30,000 distribution from his
individual retirement account. The taxpayer wanted this distribution to be the first of a series of substantially equal annual payments.