M2 EQUITYBITES-January 29, 2018-Ascensus to Acquire
Qualified Plans to Expand Defined Benefits Solutions
Below are some questions to consider when planning for IRAs and
qualified plans for a client with a blended family.
qualified plans while they are on overseas assignments.
These "deferred income annuities" can be purchased by IRAs and
qualified plans (within limits) and the contract values will be exempt from RMD rules until age 85, thus allowing even greater benefit of tax deferral.
This is an option for companies that have maxed out existing
qualified plans, decided that
qualified plans are too expensive, or concluded that a nonqualified plan does not create income tax advantages for the owner.
Some argue, however, that bundling NQDC plans with
qualified plans is not such a good idea.
Matthew reminisced about his earliest recollection of working with his father in the life insurance business: "I remember when I was 13 years old, I was doing data entry on
qualified plans.
The federal estate tax exclusion, as described at Q 673, is available as well to the estates of self-employed individuals covered under
qualified plans.
With deemed IRAs, also referred to as "sidecar IRAs," the participants in
qualified plans, Section 403(b) plans, and eligible 457 plans are allowed to make traditional and Roth IRA contributions to a separate account or annuity established under their employer's plan.
Like all
qualified plans, a Keogh plan enables those covered under the plan to accumulate a private retirement fund that will supplement their other pension and Social Security benefits.
The IRS issued guidance regarding the exclusion of part-time, temporary, seasonal, and project employees under
qualified plans, including 401(k)s.
Early distributions from
qualified plans to terminated public safety employees; and
