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Congress could soon change how spouses access their retirement accounts. A pair of Democratic bills recently introduced in the House and Senate would require spouses to consent before either one ...
403(b) employer contributions may vest faster than in 401(k) plans. If you are no longer with your employer, 403(b) rules may be more flexible than 401(k) early withdrawal rules.
The Employee Retirement Income Security Act (ERISA) does not require 403(b) plans to be technically "qualified" plans (i.e., plans governed by U.S. Tax Code 401(a)), but 403(b) plans have the same general appearance as qualified plans. While the option is available it is not known how prevalent or if any 403(b) plan has been started or amended ...
Changing beneficiaries in a retirement plan or waiving the joint and survivor annuity form of retirement benefit requires written spousal consent Wages can be garnished at a maximum of 60% (instead of the normal 25% limit) if the garnishing is for alimony or child support
Employers are required to report information about the plan to the Labor Department and provide it to participants upon request. The information is reported on Form 5500, which is available for public inspection. If a participant requests, the employer must provide the participant with a calculation of her or his accrued and vested pension ...
What is the 15-year rule for 403(b) plans? Long-term employees may have the opportunity to save even more through 403(b) plans. Regardless of age, employees with at least 15 years of service with ...
Employees may make either an "age-based" withdrawal or a "financial hardship" withdrawal. The minimum withdrawal amount is $1,000 (or the account balance, if smaller). For married FERS employees and uniformed service members the spouse must consent to the withdrawal; for married CSRS employees the spouse need only be notified.
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