401k and 403b Plans

For contributions, no, unless you exceeded one of the annual maximums.

For distributions, yes, you should have gotten a 1099-R.

no !!!! i know of some one in holland mi right now that is doing that!!! he conned her into marriage just to get her 401 k from gentex in zeeland mi, she has ten years in there so its around 38.000 dollars. and hes pressuring her to cash in so he can get as he planned to get it and all her money from the get go!!!. this guys name is frank trejo and hes a real skunk !!!

Yes, if the Certificate of Deposit is inside an IRA account or another 401k account.

If you are eligible to take a 401k distribution, you could take the money and buy a regular CD, but you would pay the same taxes and penalties that would apply if you didn't roll the money over.

But you can roll a 401k over into another retirement account such as an IRA at a bank and buy a CD with the money in the new account without any taxes or penalties as long as you kept the CD in the IRA account.

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Depending on the state of issue, an AIG annuity contract is likely guaranteed by a Life & Health Insurance Guarantee Association. For more information, see http://www.nolhga.com/. If you have concerns about your personal annuity, contact your state's department of insurance.

Yes, you can absolutely rollover your 401k into a CD. However, you will want to make sure that you roll it over into an IRA before purchasing your CD to avoid tax consequences. If you do not do it correctly, then you run the risk of being taxed at ordinary income + 10%. Beware!

eRollover is a great site that can help you to navigate a rollover, as well as providing guidance for your retirement. See attached link.

It is the portion of the Company match funds in your account you are entitled to keep should your employment terminate. Your vested portion will increase each year of your employment until you reach 100%, usually 5 years.

Generally, your contributions aren't taxed (put in before taxes), and your withdrawals are taxed.

The amount does not matter, you will owe all income taxes due plus a 10% penalty if you are not 59 1/2 years old.

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Ask your Plan Administrator for the necessary forms.

No. All taxes on interest, dividends, and capital gains in a traditional IRA are deferred. No taxes are due until you withdraw from a traditional IRA, when it is counted as ordinary income (not income which is distinguished by whether it is from interest, dividends, or capital gains), which is taxed based on your adjusted gross income in the year they are withdrawn. If you withdraw before age 59.5, you owe an additional 10% penalty.

Contributions to a Traditional IRA made either in 2008 or on or before April 15, 2009, are deductible from your 2008 taxable income. However, there are limits to these contributions which depend on a host of factors. You cannot contribute more than $5000 total ($6000 if you are age 50 on December 31, 2008) to both a Traditional and Roth IRA. If you make over $105,000/year ($159,000 if married filing jointly), your ability to contribute to a Roth IRA is reduced or eliminated. However, no restriction based on income exists for a Traditional IRA. You can always contribute $5000 (or $6000 if age 50) to a Traditional IRA.

Can I get some of my husbands 401 k

There is no limit set by IRS on a per month basis, however there is an annual limit to your contributions. Some employers do create restrictions on how much of your salary you can contribute, but that varies from employer to employer.

Assuming that you want to maximize your 401k for the year and you want to contribute an even amount per month, then you would contribute $16,500/12 = $1,375 per month. This does not include your employer match.

The best way to start is by calling your regional office for the department of labor and talk to a benefit adviser.

If you are under 59 1/2, 10% will be withheld.

Even in cases of hardship, this money is best left where it is for retirement, particularly if you are young. It should be the last resort. If you leave it as it is, it will grow as the economy improves. Based on stocks, you would be taking a beating from selling at a low point plus the cost of the penalty.

See the related link to the IRS.

Roth IRA contributions are not affected by 401k contributions in any way. The max contribution for 2008 was $5000 ($6000 if age 50 or above).

This is of course assuming you fall within income requirements for a Roth IRA.

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Yes. But, in each case you would pay the penalty and tax on the withdrawal as income that year.

No, this is the offset of not having to pay taxes on 401K profits.

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You can roll a 401k plan over into a Roth IRA. However, when you do so, you will have to pay ordinary income tax on the amount rolled into the Roth.

Even so, a Roth IRA will usually perform better over time, as the money not only grows tax free, but is taken out tax free as well.

There are some great calculators out there that will show you the impact of conducting this rollover. See attached link.

It qualifies you as someone who supports terrorism. You won't get a deduction on your taxes, but you may get an extended holiday in Cuba! :)

Yes, if you are contributing pre-tax. For example; you make 30,000 during the year, and you contribute 6% to your 401k on a pre-tax basis, so you contribute a total of 1,800. You would be taxed on 28,200, and that would be reflected on your W-2.

Most 401k plans offer for a "Disability Withdrawal" while you are still considered an active employee. You would want to call your plan information line, see if a withdrawl of that type is availiable, and follow their procedures from there.