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Unlike traditional pension plans, in which the employer promises a specified monthly benefit at retirement, 401 (k) plans are funded by contributions deducted directly from the employee’s ...
Qualified domestic relations order to divide the 401(k) as part of a divorce agreement. ... SoSEPP payments allow a 401(k) account holder to collect regular payments for life based on their ...
5 steps for managing your money in retirement. As you’re planning for your retirement, you’ll need to forge ahead as best you can. You won’t have the safety of a job to bolster your finances ...
A qualified domestic relations order (or QDRO, pronounced "cue-dro" or "qua-dro"), is a judicial order in the United States, entered as part of a property division in a divorce or legal separation that splits a retirement plan or pension plan by recognizing joint marital ownership interests in the plan, specifically the former spouse's interest in that spouse's share of the asset.
Substantially equal periodic payments. Substantially equal periodic payments (SEPP) are one of the exceptions in the United States Internal Revenue Code that allows a retiree to receive payments before age 59 from a retirement plan or deferred annuity without the 10% early distribution penalty under certain circumstances. [1]
A cash balance plan is a defined benefit retirement plan that maintains hypothetical individual employee accounts like a defined contribution plan. The hypothetical nature of the individual accounts was crucial in the early adoption of such plans because it enabled conversion of traditional plans without declaring a plan termination .
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