What does active participant mean? Find the answer here
Who is an active participant? Active participant status affects an individual’s eligibility to take a deduction for a contribution to a traditional IRA on his/her
March 3, 2009
A rollover (or rollover contribution) is a redeposit of assets that were withdrawn from a retirement account, such as an IRA, qualified plan, 403(b) account or a 457(b) plan, to an eligible retirement account/plan. (See chart on page 1 for the plans between which rollovers can be completed.) There are two types of rollovers, namely, indirect rollovers and direct rollovers. Withdrawals representing both types of rollovers are reported on IRS Form 1099-R. If the receiving account is an IRA, the rollover is reported on IRS Form 5498.
Who is an active participant? Active participant status affects an individual’s eligibility to take a deduction for a contribution to a traditional IRA on his/her
Definition An additional contribution that can be made to a retirement plan by a participant who is at least age-50 by the end of the
Definition A contribution made pursuant to a participant’s election to have a portion of his/her salary/wages contributed to his/ her employer sponsored plan rather than
Definition An employee who, at any time during the plan year, is (i) an officer of the employer having an annual compensation greater than $180,000,
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