Employer

I have a SIMPLE IRA from a previous employer. How long do I have to wait to roll it over into an IRA?

There are very specific rules regarding distributions of SIMPLE IRA funds.

According to IRS guidelines, the rules revolve around payments or distributions received from a SIMPLE IRA during the 2-year period beginning on the date on which the individual first participated in any SIMPLE IRA plan maintained by the individual's employer (the "2-year period"). The 2-year period begins on the first day on which contributions made by the individual's employer are deposited in the individual's SIMPLE IRA.

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Consider Alternatives Such as Immediate Annuities to “Stop Risking Life Savings”

Article encourages partial annuitization through fixed annuities as a prudent approach to planning one's retirement finances. Even if you invest well and diversify your portfolio, you can't be completely sure that you'll outlive your money. That's where putting a portion of your assets into an immediate annuity can be useful -- by guaranteeing a stream of income for life, supplementing what you'll get from Social Security and any employer pension you might receive. Source: Motley Fool Full Story

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Obama Seeks Automatic Workplace Pensions

The Obama administration seeks to enhance retirement savings by forcing forcing employers to automatically enroll employees in "direct-deposit IRA account." The plan would force employers that don’t offer retirement plans to enroll employees in a “direct-deposit IRA account,” with the option for workers themselves to opt out. Currently, 75 million working Americans, or about half the workforce, lacks employer-based retirement plans, according to the administration. Source: Bloomberg Full Story

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