Terms of Use Table of Contents Single vs. Flexible-Payment Annuities Fixed vs. Variable Annuities Fixed and Variable Annuity Expenses Deferred vs. Immediate Annuities Withdrawing Money from a Deferred Annuity Why Buy a Deferred Annuity? Why Buy an Immediate Annuity? Options with Guarantees Before You Buy an Annuity Consider the Following Some Questions to Ask Before Buying Confused about annuities? You're not alone. Many people have difficulty understanding them. The main reason for a  More...

Terms of Use 1. Know your retirement needs Retirement is expensive. Experts estimate that you'll need about 70% of your pre-retirement income. Lower earners will need 90% or more to maintain your standard of living when you stop working. Understand your financial future. 2. Find out about your Social Security benefits Social Security pays the average retiree about 40% of pre-retirement earnings. Call the Social Security Administration at 1-800-772-1213 for a free Personal Earnings and Bene  More...

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   More...

Terms of Use Interest on 401(k) loans is generally not tax deductible regardless of how you use the money. Almost every 401(k) account balance includes some dollars from salary-reduction contributions. Therefore, interest on loans from these types of plans is rarely deductible. Even though the interest is not tax deductible, you are in essence paying interest to yourself. Interest on home equity loans, for example, is tax deductible, so that may be a better option than taking a loan on  More...

Terms of Use Withdrawals are allowed from your 401(k) plan if they are considered to be a hardship withdrawal, and they are allowed by the employer. Employers are not required to provide for hardship withdrawals. The IRS code that governs 401(k) plans provides for hardship withdrawals only if: The withdrawal is due to an immediate and heavy financial need; The withdrawal must be necessary to satisfy that need (i.e. you have no other funds or way to meet the need); The withdrawal must not e  More...

Terms of Use A 403(b) plan is a retirement savings plan (also known as a tax-sheltered annuity plan) for employees of public schools and certain tax-exempt organizations (hospitals, charities, churches, etc. 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. Taxes are paid when the money   More...

Terms of Use A QDRO stands for Qualified Domestic Relations Order and is a court order that mandates that a retirement plan administrator follow the terms of a divorce settlement. It is very important to have a QDRO whenever you divide a community interest in any 401(k). If you don't get a QDRO, the plan administrator is not required to follow the terms of your divorce settlement.

Terms of Use Your golden years are closer than you think! You know you need to save for retirement. Perhaps you've been stashing away some funds for that someday, but how do you know if you're saving enough? There isn't any way to know for certain how much you'll need to save today in order to afford the lifestyle you see for yourself down the road, but putting some thought to it NOW and coming up with a retirement plan will help ensure that you arrive over the hill in co  More...

Terms of Use Not directly, but you can roll over a 401(k) distribution to a Traditional IRA and then convert it to a Roth IRA. Note: Rolling over your 401(k) to a Roth IRA is a taxable event. You’ll have to pay income tax on your contributions, your employer's matching contributions (if applicable) and all earnings.

Terms of Use The future of Social Security Much is being talked about these days about the future of Social Security. Social Security is primarily financed by payroll taxes. As long as people work, the system will never completely run out of money. The Social Security taxes you pay go into the Social Security Trust Funds and are used to pay benefits to current beneficiaries. Estimates made by the Social Security Board of Trustees are that in 2035 the Trust Funds will be depleted. What happens th  More...