What is the purpose of a rollover when it comes to retirement plans?
What will be an ideal response?
Answer: With the popularity of defined-contribution plans these days, employees need some way to make their retirement plans portable so they can take their retirement money with them when they leave the company before retirement. Since qualified retirement plans have tax liabilities and penalties for early withdrawals, the IRS had to come up with a process for the employee to maintain their retirement monies without being penalized. Now the employee can rollover their money into another qualified plan without any taxes or penalties. There are strict rules governing rollovers so it pays to get professional advice to avoid any tax consequences.
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There are many different definitions for public relations, and each one is valid
Indicate whether the statement is true or false
______ corporate social responsibility focuses on profitability and helping society through philanthropy.
A. Unethical B. Malevolent C. Benevolent D. Stress
Regarding differences under the UCC in the treatment of merchants and nonmerchants, which is
true? A) Article 2 contains several provisions that either apply only to merchants or impose a greater duty on merchants. B) The UCC applies to merchants, but not to nonmerchants. C) The consideration requirement has been eliminated for contracts between merchants, but is still present in contracts involving at least one nonmerchant. D) The UCC requires merchants' contracts to be in writing, but not those of nonmerchants.
Bruce lived in Tennessee and had an appliance store in Tennessee. Bruce's residence and the appliance store, however, were within twenty miles of the Virginia state line. Bruce advertised heavily in both Tennessee and Virginia. Susan, one of his customers from Virginia, had an unfortunate experience with a refrigerator purchased from Bruce in that the refrigerator caught on fire and burned down
Susan's house which was worth $200,000 . Susan obtained proof that the refrigerator had actually been returned to Bruce because it malfunctioned and that, rather than repair the refrigerator and sell it as used, Bruce sold the refrigerator to her as new without repairs. Susan sued Bruce in federal district court in Virginia on a number of theories. Bruce opposed the lawsuit on the basis that it could only be filed in a state court and also on the basis that he was not subject to jurisdiction in Virginia. Which of the following is the most likely result in regard to Bruce's claim that he was not subject to jurisdiction in a court located in Virginia? a. Bruce would not be subject to jurisdiction in a Virginia court because he did not live there nor was his store located there. b. Bruce would not be subject to jurisdiction in a Virginia court because a consumer complaint was involved, not a dispute involving two business entities. c. Bruce would be subject to the jurisdiction of courts in Virginia because Tennessee borders Virginia, and federal courts have jurisdiction over citizens from any surrounding state. d. Bruce would be subject to the jurisdiction of courts in Virginia because his contacts with the state were such that maintenance of the suit would not offend traditional notions of fair play and substantial justice.