Your request is being processed...
  • 1. Will Social Security be there for me when I retire?
    Terms of Use The future of Social Security is in the spotlight these days. Social Security is primarily financed by payroll taxes. As long as people work, the system will never completely run out of money. However, Social Security is facing an uncertain financial future mainly due to demographics. We're living longer and healthier lives ... and this is good news. When the Social Security program was created in 1935, a 65-year-old had an average life expectancy of 12½ more years; toda  More...
  • 2. What is the difference between a Traditional IRA and a Roth IRA?
    Terms of Use IRAs are a great way for you to save for the future. Your IRA can consist of a range of investments from savings accounts, stocks, bonds, and certificates of deposit or share certificates. You can contribute up to a certain limit each year into your IRA and if you're over 50, you are allowed an additional catch up contribution. The tax advantages of a Traditional or Roth IRA depend on your annual income and whether you are covered by your company's retirement plan. B  More...
  • 3. What should I know about pension plans?
    Terms of Use: There are a variety of pension plans offered by private sector employers today. This information offers an explanation of traditional defined benefit pension plans insured by Pension Benefit Guaranty Corporation (PBGC): what they are, how they operate, and the rights and options of the workers covered by them. Table of Contents Traditional Pension Plans Predictable, Secure Lifetime Benefits Trends Pension Plan Provisions Federal Insurance For Your Pension Pension Checklist Other Us  More...
  • 4. How much can I contribute to a 403(b)?
    Terms of Use What is a 403(b)? A 403(b) is an employer sponsored retirement savings plan that allows you to save pre-tax dollars for your retirement. A Roth 403(b) permits only after-tax contributions but allows you to diversify your tax risk by letting eligible participants make tax-free withdrawals after retirement. The IRS limits the amount you can contribute each year Participants can contribute up to $17,500 for 2014. This limit is applicable if you're under age 50 as of December 31st  More...
  • 5. What is a 403(b) plan and who is eligible to contribute?
    Terms of Use: A 403(b) plan is a retirement savings plan for employees of public schools and certain tax-exempt organizations — as determined by Section 501(c)(3) of the Internal Revenue Code. In a 403(b) program, you have the opportunity to contribute pre-tax dollars, reducing your taxable salary, and both your contributions and earnings grow tax-deferred until they are withdrawn. Section 501(c)(3) organizations include: Nonprofit organizations that are exempt from income tax under sectio  More...
  • 6. What is a variable annuity and how does it work?
    Terms of Use: Variable annuities have become a part of the retirement and investment plans of many Americans. Before you buy a variable annuity, you should know some of the basics – and be prepared to ask your insurance agent, broker, financial planner, or other financial professional lots of questions about whether a variable annuity is right for you. This is a general description of variable annuities – what they are, how they work, and the charges you will pay. Before buying any v  More...
  • 7. How do I transfer my IRA from one financial institution to another?
    Terms of Use A rollover is when you withdraw funds from an IRA or plan and contribute those funds to the same or another IRA or plan. A trustee-to-trustee transfer (often called a direct transfer or direct rollover) is when you never receive the IRA or plan funds. They are transferred directly from one financial institution to another without you ever touching the money. The general rule is that when you take a distribution from an IRA (or other tax-deferred retirement account) that you in  More...
  • 8. What is AGI and MAGI as it relates to IRAs?
    Terms of Use Adjusted Gross Income (AGI) Your adjusted gross income (AGI) is the number at the bottom of page 1 on your income tax return, IRS Form 1040 or 1040A. On Form 1040EZ, adjusted gross income appears on line 4. Specifically, it's your gross income minus so-called above-the-line deductions. These include: deductible IRA contributions (as well as deductible SEP, SIMPLE and Keogh contributions) student-loan-interest deduction deductible contributions to medical savings accounts an  More...
  • 9. Are all distributions from a 401(k) subject to the 10% early withdrawal penalty?
    Terms of Use: Generally yes , but there are situations where the IRS will waive the 10% early withdrawal penalty. Your un-reimbursed medical costs exceeds 7.5% of your income. There is a Qualified Domestic Relations Order (QDRO) from the courts that mandate funds from your account go to a former spouse, child, or dependent. You have elect a Section 72(t) retirement distribution. You are totally disabled. You’ve separated from service and were at least 55 years of age when you did so. You have di  More...
  • 10. Can I deduct my Roth IRA contribution?
    Terms of Use: No, contributions to a Roth IRA are not tax deductible. A Roth IRA allows you (if you do not exceed certain income limits) to invest money by making non-deductible contributions that grow tax-deferred.
All information provided through this site is intended to be accurate. However, there may be inaccuracies from time to time which we will make every attempt to correct immediately. Information provided is intended to assist you in making decisions and does not eliminate the need to discuss your particular circumstances with a qualified professional.


Tools and Links

The Link Newsletter

Subscribe for monthly updates!