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 transfer is a non-reportable movement of assets, generally occurring between retirement accounts of the same type. For instance, from one Traditional IRA to another Traditional IRA. Assets are made payable to the receiving financial institution or plan for the benefit of the participant. The term trustee-to-trustee transfer is also used to refer to a ‘transfer’, and is sometimes used to refer to a direct rollover or a direct Roth conversion, to indicate that the assets are exchanged directly between custodians/trustees.
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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