|
|
|
|
|
|
| Retirement Planning Basics | Retirement Planning Basics: Retirement Planning 101
A retirement plan, which is established at a bank,
brokerage, or any other financial institution, either on your own or through
your employer, is a special type of account.
In order to encourage you to save in these accounts, as long
as you agree not to take out the money before you retire, the U.S.
government wants to persuade you to save for your own retirement, so they...
Read More >> |
|
|
|
| Working of Retirement Plans and ERISA |
The Working of Retirement Plans and ERISA: Retirement Planning 101
How the Retirement Plans Function?
Retirement plans must meet certain reporting and disclosure
requirements in addition to certain investment and fiduciary requirements to
receive tax advantages.
Reporting and Disclosure Requirements
Retirement plans are highly regulated by various government
agencies. Reporting requirements exist with the Internal Revenue Service (IRS),
Department of Labor (DOL) and the Pension Benefit Guaranty Corporation (PBGC).
...
Read More >> |
| |
|
|
| Types of Retirement Plans |
Types of Retirement Plans : Retirement Planning 101
Retirement plans can be classified as either qualified plans
or nonqualified plans. Each of them is briefly explained below.
Qualified Plans
Qualified plans are cause to undergo numerous income tax
qualification requirements contained in the Internal Revenue Code that are usually
intended to make certain that such plans do not distinguish supporting highly
compensated employees.
If the retirement plan is a qualified plan, the employer is
entitled to a current deduc...
Read More >> |
| |
|
|
|
|
|
|
|