Younger workers, however, could invest some of their payroll taxes into higher-risk, potentially higher-yield, Individual Retirement Accounts
Key issues: Opposes increased federal influence on education and supports smaller classroom sizes, more teacher training and full 40 percent federal funding for special education within 10 years; wants to maintain well-trained and funded police force; seeks HMO reform so doctors and patients make decisions; wants to ensure health affordable to all; supports taking Social Security out of the general fund so it is not spent on other expenses; wants to increase maximum Individual Retirement Account
contribution to $5,000.
Instead, roll the money over into an Individual Retirement Account
or into your new employer's 401(k) plan.
If money is tight, premiums can be paid by using funds in an individual retirement account
It has been three years since he developed a formal personal investment plan consisting of an Individual Retirement Account
[IRA] and a separate account where he holds individual securities, such as stocks and real estate investment trusts [REITs].
The survey found that the top reason for moving funds from a retirement plan to a rollover individual retirement account
was an existing relationship with a provider outside of the plan.
12 (9/28/98), held that an additional individual retirement account
(IRA) distribution received by a taxpayer less than five years after he began a series of substantially equal periodic payments was an impermissible modification that triggered application of the Sec.
Major assets: individual retirement account
worth between $50,000 and $100,000
In 1995 a taxpayer took early retirement and received a $30,000 distribution from his individual retirement account
An IRA is a personal, tax-deferred individual retirement account
that allows employed people to contribute up to $2,000 a year ($3,000 in 2002) toward their retirement.
It provides the tax advantages of an individual retirement account
and the medical expense funding options of a flexible spending account.