Q&A: Retirement Plan

Question: #2: What is the best retirement savings plan for asmall business owner?
I'm a small business owner (4 full time employees) who does not offer any retirement plan or have one for myself. My employees are commission based only. What would be the best retirement plan for me and for all of us, individually? Thanks! - asked by small_business_CEO

Answer: ... - answered by: jdkilp
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Question: #4: How do I choose a company to use for my retirementplan?
I plan to open a 403(b) in August. I have been told that mutual funds are better (and cheaper) than annuities, and so that is what I want to put my money. (I don't intend this question to be a mutual fund vs. annuity debate). My school district sponsors 20 retirement planning companies, and their websites don't seem to distinguish the competition. Some companies include Fidelity, Primerica, Vanguard, Metro Life, Equitable, Putnam, etc. How do I choose which company is best for me whether or not I end up getting mutual funds or annuities?I teach in Florida. We have the Florida Retirement System (FRS). My school district puts money into that, which I can choose either to be a pension (with benefits after 6 years of service) or an investment plan (with benefits after 1 year). I choose the investment plan because I don't know if I will be in teaching in the long-run or if I will at least be in Florida for 6 years to get the pension benefit. According to everyone, the FRS will not be enough, so we have the option of opening up a 403(b) plan with one of these companies to supplement the FRS money. There is no matching in this 403(b).I am 23 years old. - asked by coolman293472

Answer: ... - answered by: El Guapo
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Question: #6: If I have a retirement plan at work , can I stilcontribute to a roth ira -?
I file married filing jointly - what is the income cut off for donating to a roth? Husband is self- employed and no retirement plan - he puts his in a traditional ira - what is his cut off - asked by Cindy W

Answer: ... - answered by: Richard M
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Question: #8: Any suggestions for a retirement plan for stay athome Mom?
I'm currently a stay at home Mom and do not have a retirement plan in place. I'm 30 and looking for a reasonably priced plan for the future. Any suggestions? - asked by auntihaha

Answer: ... - answered by: Angela S
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Question: #10: does social securty penalize you if you haveanother retirement plan?
I am a government worker, and I will eventually have a 20 year military reserve retirement plan set, another Gov retirement paln, and social security since I've been paying into from 1987 to the present? A friend of mine informed me that since I will drawing other retirements, SS will give me a lower amount when I retire is this true? - asked by cook90022

Answer: ... - answered by: Auntie Mame
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Question: #12: What are the 6 companies included in the PinchotRetirement Plan?
I am told that there are 6 main companies in the Pinchot Retirement Plan. One of them is Plum Creek. What are the others? - asked by allen5904

Answer: ... - answered by: LFB,PCL,PCH, POPEZ, TWTUF,RYN
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Question: #14: Do I need to file taxes for my 401 K RetirementPlan?
And how much money you get back with your 401 K retirement plan? - asked by asm0586

Answer: ... - answered by: Julie
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Question: #16: how do i save for retirement when my employmentdoes not offer a retirement plan?
i recently started a new job, it's a union job, which has great medical benefits and sick time and paid time off, but it does not offer a retirement plan. what should i be doing to save for retirement? - asked by lovesmehendi

Answer: ... - answered by: mldjay
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Question: #18: Why does my W-2 have retirement plan X'ed on box13?
I just received my W-2 and I noticed an X on retirement plan on box 13. But I did not sign up for a retirement plan. And I did find something odd with the amount of money I was getting per check after taxes. Would I be able to reteive this money? I can't afford to save a dime on a retirement plan right now. - asked by Eddie H

Answer: ... - answered by: Tomk
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Question: #20: which government agency I should complaintregarding retirement plan roll-over from formeremployer?
I have a cash balance retirement plan from my former employer, it's similar to a 401k. when I tried to request a roll over to my present employer's 401 k . I have receive no reply for month. what should be my next step? - asked by Danny Y

Answer: ... - answered by: mister ed
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Question: #22: Why is my company renaming my 401k plan to aRetirement Savings Plan?
After a recent merger, my company is renaming my 401k plan to a Retirement Savings Plan. It seems a little odd. What kinds of legal issues, protections, ect. do I need to consider? - asked by dandspach

Answer: ... - answered by: digdowndeepnseattle
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Question: #24: What is better a retirement plan or a 401K plan?Is there a difference and how much should I save amonth?
Do you know a good place to start when your employer is not doing retirement because you do not have enough hours? I dont feel like Social Security will be around when I get to the age to draw. That will be like in 2040 something. - asked by **A Perfect Gentleman**

Answer: ... - answered by: muncie birder
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Question: #26: i did not contribute to company retirement plan or401k. Can I contribute to IRA?
I joined new employer in Sep,2005. I was eligible to join 401K from Nov2005. I did not contribute to 401k plan. Box 13 in my W2 (retirement plan) is checked.I am trying to claim my $4,000 IRA contribution. Turbo tax is not giving full deduction of $4,000. It is giving only $770 deduction from my Total Income. Why do not I get $4000 IRA deduction.Thanks inadvance.Ram - asked by rav_sa

Answer: ... - answered by: IAGT
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Question: #28: What is the difference betwen 401 and 457retirement plan for a government employee?
I am a local government employee. Speaking from my memory 401 is pretty identical to 401 offered in private sector. You are immediately eligible for it. I want to make sure I am understanding 457 right. I think you become eligible for 457 only after one year of service and there's no early withdrawl penalty (10%) if you withdraw before your retirement age. Am I right? - asked by Del

Answer: ... - answered by: aj485
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Question: #30: What are some of my effective option to prepare myretirement plan ?
I'm 27 years old and I would like to have advices on some effective investment options I have available to save it up retirement preferebly around age 65+ - asked by aliji

Answer: ... - answered by: The Old Salt
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