10% PENALTY EXCEPTIONS – IRA ONLY!

By Andy Ives, CFP®, AIF® IRA Analyst When a person under the age of 59 ½ takes a withdrawal from their IRA or company plan – like a 401(k) – there is a 10% penalty. However, this penalty can be avoided if the withdrawal qualifies for an exception. Some...

CRDS ARE STILL AVAILABLE

By Sarah Brenner, JD Director of Retirement Education The year 2020 has been a challenging one. With coronavirus cases rising in most of the country and economic relief stalled in Congress, many individuals may be looking to find funds to pay urgent bills. One...

TRUSTS AS IRA BENEFICIARIES AND NUA: TODAY’S SLOTT REPORT MAILBAG

By Ian Berger, JD IRA Analyst Question: Our estate planning attorney prepared trust documents a few years ago and he advised us to name the trust as a beneficiary.  This was done after discussion with him regarding a situation in case our son(s) divorce their wives. ...

MORE ON AFTER-TAX PLAN CONTRIBUTIONS

By Ian Berger, JD IRA Analyst The October 19, 2020 Slott Report article, “Don’t Overlook After-Tax Contributions!,” explained how after-tax contributions in company plans work and discussed the dollar limits on them. This article will explain how...

IRA TRICK-OR-TREAT!

By Andy Ives, CFP®, AIF® IRA Analyst Trick-or-treating in the time of a pandemic is a challenge. Social distancing while handing out candy requires some creativity. The Slott Report has elected to place a big bowl of random treats in front of our house for the kids to...

IRA ROLLOVERS AND DEDUCTIONS: TODAY’S SLOTT REPORT MAILBAG

By Sarah Brenner, JD Director of Retirement Education Question: Hello, If an individual has a solo 401(k), is this considered a “retirement plan at work” that would limit the deductibility of IRA contributions? Thanks! Susan Answer: Hi Susan, Being an...