You may be able to transfer your IRA balance into your new plan if the new plan accepts rollovers from IRAs. Before rolling your money into a new plan, you should compare the plan’s investment options and withdrawal rules with those of your IRA. You may give up some flexibility or face stricter requirements if you make the move.

A rollover requires a distribution from an IRA or qualified plan, which is then rolled over into an IRA account within a 60 day period to complete the rollover transaction. While the rules for rollovers and transfers differ, they accomplish similar objectives. Both rollovers and transfers facilitate the tax-free movement of IRA monies from one trustee or custodian to another.

Yes. If you have left the federal government for at least 31 days, you can have your TSP funds rolled over to a Rollover IRA. Keep in mind that you need to first select a financial institution and the investment that will receive your TSP account balance for a trustee-to-trustee transfer. You must not receive any of your TSP funds to avoid income taxes. If you do, the TSP office will be required to withhold taxes from your TSP distribution.

If you are single and have compensation from employment or earned income from self-employment and your modified adjusted gross income (MAGI) is less than $95,000, you can make the maximum annual contribution, regardless of your age; if your MAGI is more than $95,000 but less than $110,000, you can make a partial contribution.

When you open a Rollover IRA to receive a qualified distribution, you can defer any current tax liability on that distribution and your funds can continue to grow on a tax-deferred basis until you withdraw them. Morgan Stanley and its Financial Advisors do not offer tax advice. Individuals should consult their personal tax advisor before making any tax-related investment decisions. Branch Locator | Site Map | Privacy | Terms of Use | Disclosures | Morgan Stanley DW Inc.

In most cases there is no limit on the amount you may transfer or roll over into an IRA because you are simply moving the money from one type of retirement plan to another. You may transfer or roll over your IRA regardless of your age. However, if you are 70? or older, you must receive a minimum required distribution from your IRA each year. This should be taken into account in planning your rollover.

There is no limit on the amount that can be converted to a Roth IRA as long as your modified adjusted gross income is below $100,000 per year. Not so. Any amount can be converted to a Roth IRA if you meet the $100,000 per year income limit. However, only $3,000 in 2003 can be contributed to a Roth IRA subject to certain income limits. Investors 50 years old or above may make an additional "catch-up" contribution of $500, bringing their total to $3,500 for the year.

Yes. A spouse who does not earn income but who files a joint federal income tax return can contribute up to $4,000 ($4,500 if you are age 50 or older in 2005 and $5,000 if you are age 50 or older in 2006) to a Roth IRA based on the earned income of the joint filer and the MAGI on the joint return. These contributions are not deductible from current taxes.

Rollover contributions from MSAs and other HSAs are permitted. Rollovers are not subject to the annual contribution limits. Rollover amounts from an IRA, HRA or FSA are not permitted.

Yes. A spouse who does not earn income can contribute up to $4,000 ($4,500 if you are age 50 or older in 2005 and $5,000 if you are age 50 or older in 2006) to a Traditional IRA and deduct the entire contribution from income reported on a joint tax return if the couple's combined adjusted gross income (AGI) is less than or equal to $150,000. If the couple's AGI is between $150,000 and $160,000, the spouse's contribution may be partially deductible.

You may name a spouse, a family member, or another party as beneficiary of your rollover IRA. Beneficiary decisions are usually revocable and careful thought should be given to the tax and distribution ramifications of your final choice.

Yes. Traditional IRAs as well as other qualified retirement plans are subject to mandatory required minimum distributions (RMD) that must begin by April 1st of the year after the year in which a participant reaches age 70 ½. Not meeting the RMD or forgetting to distribute tax qualified funds after age 70 ½ will generally result in an IRS 50% excise tax. Our rollover specialists can help you to determine your RMD.

If you have been covered by your employer's retirement plan and are about to receive a qualified distribution from that plan, you may be eligible to establish a Rollover IRA. You may establish a Rollover IRA at any age.

Yes. A rollover takes place when the IRA funds are paid directly to you and re-deposited (roll-over) into an IRA within 60 calendar days of receipt. The 60-day period begins the day after you receive the payment. A rollover transaction from an IRA may not occur more than once during a 12-month period. This 12-month rule applies to each separate IRA you own and is determined from the date the IRA funds are received.

The deadline for SIMPLE contributions is the tax filing deadline of the company, including extensions. For a previous year contribution, the SIMPLE plan must have been established by October 1 of the year for which the contribution is being made. For Agents and Brokers | Insurance Forums | About Us | Privacy/Legal | Contact Us | Site Map | Site Menu

The final deadline for making prior year IRA contributions is typically April 15. For example, a contribution for tax year 2007 may be made up until April 15, 2008.