My husband left his ex-wife as his retirement plan beneficiary. Can this be changed?

June 30, 2024 No Comments

A: Even when assets are divided following a divorce, in many cases, former spouses and heirs engage the services of attorneys and the courts to determine the beneficiaries of the retirement-plan assets of a deceased retirement account owner. This occurs when the deceased fails to

My husband left his ex-wife as his retirement plan beneficiary. Can this be changed?

July 7, 2024 No Comments

Receiving Social Security benefits abroad

June 30, 2024 No Comments

A: If you are planning on retiring abroad, you may be concerned about forfeiting your Social Security retirement, disability or survivors’ benefits. However, because the United States has Social Security agreements with many nations throughout the world, this may not be the case. The Social

Receiving Social Security benefits abroad

July 7, 2024 No Comments

Should a Canadian citizen who lives and works in the U.S. continue to contribute to a RRSP account?

June 30, 2024 No Comments

A: No, a U.S. resident should not contribute to a RRSP account. RRSP contribution rules allow you to contribute a certain percentage of your earned income, but since your income is not from a Canadian source, you would not be eligible for any tax deductions

Should a Canadian citizen who lives and works in the U.S. continue to contribute to a RRSP account?

July 7, 2024 No Comments

The company I am working for said that 401(k) contribution can be based on only straight time pay! The company I previously worked for allowed me to contribute on gross earnings. Has the law changed, or is the current employer wrong?

June 30, 2024 No Comments

A: The regulation (law) that addresses your specific question has not changed. However, both employers may be right. Here’s why: The regulations allow the employer to determine, to a certain extent, what is defined as “eligible compensation/pay” for the purposes of determining contributions to the

The company I am working for said that 401(k) contribution can be based on only straight time pay! The company I previously worked for allowed me to contribute on gross earnings. Has the law changed, or is the current employer wrong?

July 7, 2024 No Comments

The Difference Between a 401(a) and a 401(k)

June 30, 2024 No Comments

A: Both of these savings plans are workplace retirement plans, included in the 401 section of the Internal Revenue Code. The difference between a 401(a) plan and a 401(k) plan is first in the type of employer offering them and then in certain details and provisions. What

The Difference Between a 401(a) and a 401(k)

July 7, 2024 No Comments

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