Saving for Retirement

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When You Roll Over an IRA or Annuity Do You Pay Taxes?

An individual retirement account and an annuity are both used in retirement planning, but they are different instruments. An IRA is a sort of savings account, usually established with a bank or other financial institution. An annuity is a contract with a life insurance company ...

Are Green Card Holders Living Abroad Eligible for Social Security Benefits?

Green cards give citizens of other countries the right to work and live in the U.S. These permanent residents like U.S. citizens, have FICA -- Federal Insurance Contributions Act -- payments for Social Security withheld from their paychecks. FICA taxes and wages build ...

What Is 401(a) Retirement Plan?

A 401(a) retirement plan is an employer-sponsored money-purchase plan that allows you to save money for retirement. Similar to other retirement accounts, 401(a) plans offer employees tax advantages. The employer defines how much the company contributes and the requirements you ...

Is There a Cap on Two-Earner Social Security Retirement Benefits?

If you've worked and paid into the Social Security system, then you're entitled to retirement benefits, either at age 62 (for early retirement) or later. The amount of your monthly Social Security benefit depends on your lifetime work record and the amount you've earned over all ...

What to Do With Money in a 403(B) Retirement Plan When Leaving a Job

A 403(b) plan, also called a tax-sheltered annuity, is a tax-advantaged retirement plan for tax-exempt organizations, ministers and public school employees. If you leave your job, you typically have a few options with what to do with your 403(b) money. You may have to check with ...

How to Create Excel Worksheets to Monitor Retirement Benefits

Using Microsoft Excel to monitor retirement benefits is the extra step you can take to ensure your investments remain in line with your retirement goals and expectations. Excel is especially useful for monitoring an IRA or 401k, where worksheets can hold data, interpret numbers ...

Comparison & Contrast of 401(k), 403(b) and 457(b)

Employer-sponsored retirement plans are an alphabet soup of Internal Revenue Code citations. While many employees are familiar with 401(k) plans, 403(b) and 457(b) plans are similar in purpose and widely available. Due to the nature of the plans, most are not offered by the same ...

403(b) Tax Deduction Rules

403(b) retirement accounts are similar to 401(k) accounts. Like 401(k)s, they are set up by your employer and allow you to make tax-deferred contributions to your retirement. However, 403(b)s are available only to employees of participating government and not-for-profit ...

Vested Pension Benefits

Pensions are a way for employees to accrue savings and benefits while they work, and then use those savings and benefits after they retire. Pension benefits are considered vested if the employee can leave the employer and yet still be entitled to receive the benefits from the ...

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