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Retirement Planning

Lump Sum Distribution

In the world of finance, there exists a term that may sound unfamiliar to some: a lump-sum distribution. It refers to the entire amount of money in a 401(k) account or other tax-qualified plan that is paid out to the recipient in one taxable year. This can be a significant event for an individual and requires careful consideration and planning. Let's delve deeper into the concept of a lump-sum distribution and its implications.

Qualified Retirement Plan

It is designed to provide retirement benefits to employees. A retirement plan, whether Defined Benefit or Defined Contribution, is a crucial component of financial plannin...

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Non-qualified Retirement Plan Definition

A non-qualified retirement plan, often referred to as a NQRP, is a type of pension plan that does not meet the criteria for special tax treatment under the Internal Revenue ...

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Direct Rollover

A common strategy for individuals looking to transfer funds from a qualified retirement plan to an IRA is through a non-taxable direct rollover. This involves moving the fun...

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Adjusted Gross Income

Income tax liability is a crucial aspect of personal finance. As a knowledgeable professor, I want to shed light on the concept of taxable income. This is the amount on whic...

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