Daily Archives October 29, 2016

Information About IRAs and Employee Sponsored Retirement Plans

Frequently asked questions about IRAs and employee sponsored retirement plans can be found here. More information about the different types of retirement plans can be found here. A side-by-side comparison of common features of traditional and Roth IRAs can be found here. Information about the type of distributions that can be rolled over, types of plans and IRAs that may accept rollovers and tax consequences can be found here.  
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IRA Rollovers

Most pre-retirement payments you receive from a retirement plan or IRA can be “rolled over” by depositing the payment in another retirement plan or IRA within 60 days. You can also have your current financial institution or plan administrator directly transfer the payment to another plan or IRA. Why should you roll over your IRA? When you roll over a retirement plan distribution, you generally don’t pay tax on it until you withdraw it from the new plan. If you don’t roll over your payment, it will be taxable (other than qualified Roth distributions and any amounts already taxed). You
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