Who should be the beneficiary of your qualified retirement plan benefits?

Article Abstract:

Beneficiary designations for qualified retirement plans have important tax consequences which should be known by plan participants and planning professionals. The greatest tax benefits generally are realized if plan participants' spouses are named as beneficiaries. Some would benefit from qualified terminable interest property trusts (QTIPs) being the beneficiaries and few would benefit from naming their estates as beneficiaries. Other choices may include charities and credit shelter trusts.

Planning, Beneficiaries, Decedents' estates

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Retirement plan reform: the aftermath of the Small Business Job Protection Act of 1996

Article Abstract:

The Small Business Job Protection Act of 1996 introduced Savings Incentive Match Plans, or SIMPLE plans, as a means of encouraging small business owners to set up employee retirement plans such as IRAs or 401k plans. However, the effect of the law may not be as dramatic as expected. Although SIMPLE plans are exempt from the non-discrimination rules, employers' matching contributions, contribution limits, and abuses may work against the success of this innovation.

Commercial Banks, Investment Banking and Securities Dealing, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Bank Individual Retirement Accounts, Small Business, Pension & Benefit Regulation, Pensions, Salary reduction savings plans, 401K plans

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Individual retirement account options

Article Abstract:

Persons and practitioners engaging in retirement planning should take into account various factors before deciding between alternatives such as traditional IRAs, Roth IRAs, and other financial investments. Persons who expect to be in lower marginal tax brackets at retirement may benefit from the deferral provided by traditional IRAs instead of the generally preferable Roth IRAs. Persons with higher incomes would likely benefit from other types of investments.

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