Sentences with phrase «for lump sum distribution»

Is there any way to avoid penalties for a lump sum distribution from your retirement account?

Not exact matches

Generally, from a tax perspective, it is more favorable for participants to roll over their retirement plan assets to an IRA or new employer - sponsored plan rather than take a lump - sum distribution.

However, for participants who have large amounts of appreciated company stock, it may be more beneficial to take a lump - sum distribution of company stock instead because it allows them to pay taxes now at a lower rate.

With an indirect rollover, you begin by requesting a lump - sum distribution from your plan administrator and then take responsibility for completing the transfer.

If your taxable income is more than $ 100,000, you have foreign earned income, lump - sum distributions, alternative minimum tax, qualified adoption expenses or a health savings account, you do not qualify for this tax preparation option.

During the distribution phase of the contract, an fixed annuity can be converted into a series of income payments for your entire lifetime, over a set time period — or one lump - sum payment.

During the distribution phase of the contract, a fixed annuity can be converted into a series of income payments for your entire lifetime, over a set time period — or one lump - sum payment.

During the distribution phase of the contract, a variable annuity can be converted into a series of income payments for your entire lifetime, over a set time period — or one lump - sum payment.

There are two primary ways that a retiree can receive pension benefits, including accepting ongoing payments through an annuity - style distribution for life, or receiving the cash in one lump sum payment.

It is usually greater than the walk - away amount, but it's not available for a lump - sum distribution.

With an indirect rollover, you start by requesting a lump - sum distribution from TSP and then take responsibility for completing the transfer.

KEMBA offers Traditional and Roth IRAs so you can take advantage of tax savings, supplement your 401 (k), or combine previous 401 (k) s for greater returns; we are pleased to accept rollovers, transfers and lump - sum distributions from qualified retirement plans.

The EBRI research notes that the percentage of lump sum recipients who used the entire amount of their most recent distribution for tax - qualified savings has increased sharply since 1993.

Participants who qualify for distribution may receive a single lump sum, transfer the assets to another qualified plan or individual retirement account, or receive a series of specified installment payments.

If you decide to take a lump - sum distribution, income taxes are due on the total amount of the distribution (except for any after - tax contributions you've made) and are due in the year in which you cash out.

This special tax - computation method for lump - sum distributions from pension and profit - sharing plans is available, but only to taxpayers born before January 2, 1936.

d) Decreased Term Assurance (Family income protection): This is another unique option where the sum assured would be reduced during the policy term and during the death of insured, the nominee would get either regular monthly payments or can opt for lump sum payment which is available for distribution based on decreased term assurance policy.