This book offers readers best practices for taking money out of retirement plans. It explores profit-sharing plans, stock bonus plans, money purchase pension plans, defined benefit plans, target benefit plans, Keogh plans, individual retirement accounts (IRAs), rollover IRAs, SIMPLE IRAs and Roth IRAs, among others. It provides an overview of tax rules and early distributions, with tips on how to avoid higher taxes and penalties. Readers also will learn about required distributions, beneficiary designations, how to split retirement accounts in case of separation or divorce, and what may happen to retirement funds in case of death. This edition covers the special tax benefits for conversions to Roth IRAs and explains how to recharacterize IRA or Roth contributions. The book also provides access to a designated web page that allows readers to stay current on legal updates and important information regarding retirement plans.
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Key Words: Benefits|New Products|Other|survivor benefits|Personal Finance|Pension and Retirement|Defined benefit plans|Defined contribution plans|Joint and survivor benefits|United States