Individual Retirement Account

The rules regarding IRA qualified plans are among the most complex in the tax code. Since IRA programs are designed to provide retirement benefits to a participant, at some future dates all participants will begin to withdraw savings from the IRA. IRA distribution is required at age 70.5; and as a general rule, there is a 10% IRA penalty for distribution take before 59.5.

 

In 1974, the Employee Retirement Income Security Act (ERISA) introduced the concept of tax-free rollovers. Would it be to your advantage at retirement to rollover your 401k and/or pension into an IRA?

Download our "7 Mistakes You Don't Want to Make with Your IRA & Retirement Money
Disclosure

Jay Reeves offers investment advisory services through Gradient Advisors, LLC (Arden Hill, MN), an SEC Registered Investment Advisor. Gradient Advisors, LLC and its advisors do not render tax, legal, or accounting advice. Insurance products and services are offered through Jay Reeves, independent agent.

Jay Reeves and Gradient Advisors, LLC are not affiliated with or endorsed by the Social Security Administration or any government agency.

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