[vc_row][vc_column width=”2/3″ el_class=”section section1″][vc_column_text]To minimize tax liability and ensure that one gets the most of the insurance, it is very important that clients who are to receive or rather inherit a 401(k) from their loved one know the plan’s rules. They should check if the 401(k) original owner has started taking the required minimum distributions so as to make the right decisions by knowing their claiming options. In addition, whether they can add on their inherited assets into their own 401(k) plan or not is determined by the relationship between them and the original 401(k) owner.
How to Avoid Nasty Surprises When Retirement Arrives
- Also Read: Leaving Your TSP Alone Can Be Risky—Especially If You’re Already Retired
- Also Read: FERS Pension Gone? Here’s What Really Happens If You Resign Tomorrow
- Also Read: These TSP Tips Are What Financial Planners Wish More Government Employees Knew
Retirees Fleeing These Three States in Huge Numbers
Connecticut, New Jersey, and Maine saw the biggest number of residents moving to other states. A large number saying the main reason for the relocation is retirement. It is said that many retirees move to other states to minimize their tax liability and as well reduce their cost of living.
Federal Employees Set to Soon Have More Withdrawal Options for Their Money in Retirement Accounts
It was announced that by the officials of the Thrift Savings Plan, that the plan of new account withdrawal options will soon be implemented and made available for military personnel and federal employees who are contributing to the plan.[/vc_column_text][/vc_column][vc_column width=”1/3″][vc_single_image image=”36942″ img_size=”292×285″ style=”vc_box_shadow”][/vc_column][/vc_row]
