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By Sarah Brenner, JD
Director of Retirement Education
QUESTION:
Hi,
I was wondering if my Roth account that is a part of my Thrift Savings Plan (TSP) through federal employment counts toward my five-year rule for a Roth IRA? If I wanted to transfer the money from my workplace Roth account to a Roth IRA outside...
By Sarah Brenner, JD
Director of Retirement Education
Not all funds in an IRA belong there. When a contribution is not permitted in an IRA, it is considered an excess contribution and needs to be fixed to avoid penalties. Some excess contributions are easy to understand. Others may surprise you.
Here are some ways an excess IRA contribu...
By Andy Ives, CFP®, AIF®
IRA Analyst
April 15 is fast approaching. Not only is this the standard tax filing deadline, but it is also the deadline to complete some IRA transactions. But there is a common misconception that certain other IRA transactions can also be done up until mid-April. Such is not the case. Here are a few IRA ...
By Andy Ives, CFP®, AIF®
IRA Analyst
QUESTION:
If a non-spouse beneficiary inherits a 401(k), what are the options? Can you roll the money into an inherited IRA? Are there any other options, and over what time period does each option require the account to be drained? Thank you so much for your help.
By Ian Berger, JD
IRA Analyst
“Qualified domestic relations orders” (QDROs) are court orders used to divide ERISA retirement plan assets after a divorce. Normally, after a QDRO is approved by a defined contribution plan like a 401(k), the plan will establish a separate account within the plan in the name of the ex-spouse.
Since the ex-s...