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For questions that relate to the laws, practices, and products of the United States.

0 votes

Withdrawing a 403(b) account after leaving employment from a company

Yes you can do the withdraw if you turned 55 during the year you separated from service. http://www.401khelpcenter.com/401k_education/Early_Dist_Options.html#.VdMrqPlVhBc Leaving Your Job On or After …
Dynas's user avatar
  • 285
1 vote

Over-payment by ex-employer into 401k

You definitely need more information. This could be a number of things. First of all I don't understand the reason for the 48 hours. I would definitely ask them to clarify why this is the case. Why ar …
Dynas's user avatar
  • 285
2 votes

401k hardship withdrawal

You should call your plan administrator and ask. Few plans allow people to take a "hardship withdraw" after leaving because their is no way to pay the funds back since you are no longer working there. …
Dynas's user avatar
  • 285
-2 votes

Do traditional and Roth 401k have the same annual contribution limit?

This is an older question but things have changed. Its a common misconception on what the contribution cap is. A few things. In 2014, the IRS did not adjust the maximum contribution from the previous …
Dynas's user avatar
  • 285
1 vote

Is a Roth IRA preferable to a Traditional IRA?

One thing people are missing is that you may not be eligible to contribute to a Roth IRA based on your MAGI. There are income "phaseout" ranges which determine how much, if it all you can contribute.
Dynas's user avatar
  • 285
1 vote

Pre-tax 401k and post-tax Roth 401k contributions commingled into same account? Tax treatmen...

It is not necessarily proportional. 401k are all unique per the plan and how they are set up. It is impossible to find any two exactly alike. You should have separate buckets of the money types. Pre t …
Dynas's user avatar
  • 285
0 votes

Rollover IRA vs traditional IRA (can I make contributions to the rollover IRA?)

Rollover IRA is a "marketing term" created by the financial industry. A rollover Ira is a traditional ira. The tax treatment is what matters. You can "rollover" funds from a 401k into a traditional …
Dynas's user avatar
  • 285
-2 votes

How does the "Rule of 55" work for avoiding early 401k withdrawal penalties?

The "rule of 55" only applies to what the IRS calls "qualified plans" like your 401k. The rule means you can avoid the 10% early withdrawal penalty on distributions from your 401k (not IRA) if you are …
Dynas's user avatar
  • 285
-2 votes
3 answers
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How does the "Rule of 55" work for avoiding early 401k withdrawal penalties?

How does the "Rule of 55" work for avoiding early withdrawal penalties from a 401k? What are the conditions around using the "Rule of 55"? Is it practical to use this rule?
Dynas's user avatar
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