FiPath Teaches You to Protect Against the Risks of New Policies Relating to 401k
Workers looking forward to a comfortable retirement need to make sure that they are up-to-date on policy changes that may affect their 401k and IRA accounts.
Atlanta, GA, February 01, 2012 --(PR.com)-- New Policies May Affect your 401k to IRA Conversion
Workers looking forward to a comfortable retirement need to make sure that they are up-to-date on policy changes that may affect their 401k and IRA accounts.
Participants in many plans have long complained that the 401k information they receive is confusing and incomplete. Federal regulations that take effect in 2012 require 401k providers to provide more information about plan costs. At minimum, providers must send participants quarterly statements that show detailed expense costs and prior performance data. Providers are also required to provide a chart for investment comparison purposes.
Another change for 2012 will allow plan administrators for IRA and 401k accounts to offer advice to participants. Plan administrators must be able to show that the advice was provided by an unbiased adviser or computer model.
Plan participants that have recently changed jobs must decide what to do with their 401k accounts from their former jobs. Those nearing retirement also face big decisions. Many will choose to make a 401k to IRA conversion.
What is an IRA? A traditional Individual Retirement Account is an account that allows for tax-deferred growth of contributions. A 401k participant or retiree may roll his or her account into an IRA. Participants also have the ability to roll 401k monies into Roth IRA accounts. Roth accounts allow participants to make withdrawals tax-free after retirement. Taxes have to be paid on pre-tax 401k contributions when the conversion is made.
Decisions about retirement funds should be carefully considered. Investors need to be fully informed about the options available to them. A variety of resources are available to investors, particularly online. Websites such as http://fipath.com provide investors with term definitions and information about investment options and can also refer interested investors to financial advisors.
About FiPath:
FiPath.com (www.FiPath.com), formerly eRollover.com, was formed in 2008 by Mike Rowan and Corbett Gilliam, University of Georgia grads who were frustrated by diminished value in their IRA's and 401(k)'s, and not knowing what to do. Recognizing the need for an unbiased, trusted source in the retirement planning arena, they formed eRollover. FiPath provides comprehensive, independent, unbiased retirement planning content, and analytical tools, so consumers can take control of their retirement planning. We're the only integrated online community of consumers and advisors.
Press release optimization services provided by Atlanta SEO Company Vayu Media. Vayu Media offers customized search engine optimization strategies to domestic and international companies.
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Workers looking forward to a comfortable retirement need to make sure that they are up-to-date on policy changes that may affect their 401k and IRA accounts.
Participants in many plans have long complained that the 401k information they receive is confusing and incomplete. Federal regulations that take effect in 2012 require 401k providers to provide more information about plan costs. At minimum, providers must send participants quarterly statements that show detailed expense costs and prior performance data. Providers are also required to provide a chart for investment comparison purposes.
Another change for 2012 will allow plan administrators for IRA and 401k accounts to offer advice to participants. Plan administrators must be able to show that the advice was provided by an unbiased adviser or computer model.
Plan participants that have recently changed jobs must decide what to do with their 401k accounts from their former jobs. Those nearing retirement also face big decisions. Many will choose to make a 401k to IRA conversion.
What is an IRA? A traditional Individual Retirement Account is an account that allows for tax-deferred growth of contributions. A 401k participant or retiree may roll his or her account into an IRA. Participants also have the ability to roll 401k monies into Roth IRA accounts. Roth accounts allow participants to make withdrawals tax-free after retirement. Taxes have to be paid on pre-tax 401k contributions when the conversion is made.
Decisions about retirement funds should be carefully considered. Investors need to be fully informed about the options available to them. A variety of resources are available to investors, particularly online. Websites such as http://fipath.com provide investors with term definitions and information about investment options and can also refer interested investors to financial advisors.
About FiPath:
FiPath.com (www.FiPath.com), formerly eRollover.com, was formed in 2008 by Mike Rowan and Corbett Gilliam, University of Georgia grads who were frustrated by diminished value in their IRA's and 401(k)'s, and not knowing what to do. Recognizing the need for an unbiased, trusted source in the retirement planning arena, they formed eRollover. FiPath provides comprehensive, independent, unbiased retirement planning content, and analytical tools, so consumers can take control of their retirement planning. We're the only integrated online community of consumers and advisors.
Press release optimization services provided by Atlanta SEO Company Vayu Media. Vayu Media offers customized search engine optimization strategies to domestic and international companies.
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FiPath
Fernand Peterson
404-547-0949
www.fipath.com
Fernand Peterson
404-547-0949
www.fipath.com
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