Combining Your Plan Assets? Not so Fast!

Topics:
Accounting software,
Retirement
Tags:
Asset,
Asset Management,
Business Operations,
Finance,
Financial Planning,
Free Trade,
Investopedia,
Operational Planning,
Taxes
Source:
Investopedia

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Overview: Prior to the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), individuals were allowed to roll over an IRA to a qualified-plan account only if those IRA assets originated from a qualified plan and were maintained in a conduit IRA. This helped retirement account owners ensure that their qualified-plan assets retained certain tax benefits. EGTRRA, which became effective for tax years beginning 2002, changed the rules to allow retirement account owners move assets between regular (non-conduit) Traditional IRAs, 403(b) accounts, 457(b) accounts and qualified plans. Many retirement account owners are now considering the allowable benefits of combining their retirement accounts.

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Format: HTML | Date: May 2003 | Pages: 3

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