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Retirement Plans Archives

The Bipartisan Budget Act of 2015

President Obama, Nov. 2, signed into law the Bipartisan Budget Act of 2015, a two-year budget deal. The legislation raises the federal debt limit and is paid for in part by provisions eliminating two Social Security retirement benefit claiming strategies, a provision to prevent a significant increase in Medicare Part B premiums for some, and provisions that will make it easier for the Internal Revenue Service to audit large partnerships.

Is your 403(b) plan a good investment?

403(b) plans are the retirement savings plans for educators and employees of tax-exempt organizations. They are also known as tax sheltered annuity plans (TSAs). Participants include teachers, school administrators and other personnel, nurses, doctors, professors, librarians, and ministers. Many of these folks also receive a pension, but often the pension is not enough to give them a secure retirement so they add to their retirement savings by reducing their salary and having that amount contributed to a 403(b) plan.

Advantages to Converting to a Roth IRA in 2010

2011 is the first year that taxpayers with more than $100,000 of income can convert to a Roth IRA. 2011 may also be the best year for taxpayers to do a Roth IRA conversion because of the scheduled tax increases in future years. In addition, after 2010, increasing income could cause a person's investment income and wages to be subject to the new health care taxes.

Savings Bonds - Part 2 Purchase and Ownership

Savings Bonds are registered securities. They cannot be sold to anyone other than the U.S. Treasury and its agent banks. They are not marketable. Some of the consequences that follow from this status is that they can't be used a collateral for a loan and they can't be given to anyone without re-registering them. Savings bonds are also non-callable, that is, the U.S. Treasury can't force you to redeem the bonds before they stop paying interest at final maturity. Savings bonds are a completely "no-load" investment. There are never any fees for buying, selling or holding savings bonds.

Can a Creditor reach your IRA?

Assets in qualified retirement plans such as 401(k) plans, defined benefit pension plans, and profit sharing plans, are specifically protected from the claims of creditors by the provisions of the Employee Retirement Income Security Act of 1974 (ERISA) and a 1992 decision of the Supreme Court of the United States, Patterson v. Shumate.

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Lancaster, PA 17603

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