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About jevd

  • Birthday 08/23/1948

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  • Interests
    Gadgets, BBQ Grilling, Fishing, Now Retired

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  1. Hello all. I haven't been out here for years. My job of the last 9 years has made it difficult to stay in touch. As of March 31, I have been retired after being in the industry since 1970 . I was on a securities settlement desk when the DOW first hit 1000. I have thoroughly enjoyed my career and have seen many changes. I've been privileged to know all of you through these message boards and all of you have been extroardinarily help in my pursuit of knowledge. Stay healthy in this stressful time. May God bless you all.
  2. Agreed. Needed a little backup for my opinion. Thanks
  3. I'm looking forward to 9/1/18 for my first maximum SS check. I'v been in this industry too long. I'm the only person in my office who has a pre-erisa break in service from a former job. All you folks are youngins. Bless you all.
  4. IF a participant's termination date is 12/31/17 but he is employed on that date , is his first calendar year for rmd 2017 or 2018? Seems like a simple answer but we have bot opinions in the office. PPT is 70 1/2 in 2017
  5. jevd

    457 plans & RMDs

    Thanks. As I thought about non-governmental 457 plans. Are non-qualified deferred comp Top Hat plans exempt from RMD's as they are generally non-funded.
  6. I know that Government 457(b) plans are subject to RMDs. I'm unsure if Non-governmental 457plans and non-qualified deferred comp plans are subject to these rules. I believe not but have not been involved in these plans for a long time. Can someone sort these out for me? Thanks
  7. In House answer provided. This is our term for the required annual withholding notice. Thanks for those that may be checking jevd
  8. I ran across a new term today and am puzzled as to what it is. What is a "TEFRA CARD" and how does it apply to plans? Thanks
  9. Check IRS.gov for instructions to the 1099-R. The reason codes and explanations are listed there
  10. Congrats. I'm back after a long hiatus but my 70 th B.D.is a mere 456 days and I'll pull the plug on SS and find my 4th career.
  11. Thanks. Its been so long. I was in Compliance for quite a few years and now just answering the phone in a call center til I retire ( 458 days) but whose counting.
  12. I'm back after a loooooong time. jevd If an individual has multiple plans from different employers, does the $ 50,000 overall loan limitation apply to each plan or to the individual. IRS website seems to indicate it is a plan limitation & not an individual limitation.
  13. UCA '92. Funds needed for unemployment benefits.
  14. You're looking at taxable income in the year distributed, a 10 % penalty in the year distributed if under 59 1/2 and the 6% excess for each year it was left in the account. Because the excess was over the contribution limit the withdrawal is taxable. There is an exception if the error was due to incorrect information received from an employer in a Rollover transaction. You may be able to reduce some of the penalty by forwarding some of the contributions into each year as non-deductible. I suggest you consult with a CPA that understands the implications of the transactions as it may require amended returns . Edited for duplicate language
  15. IRA Contribution is still allowed. Deduction may or may not be depending on AGI.
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