Rollover IRA
Definition Also called a Conduit IRA. A Traditional IRA that holds only assets there were distributed from a qualified plan , 403(b) account or 457(b)
IRA
Individual retirement accounts include traditional IRAs, Roth IRAs, SIMPLE IRAs and SEP IRAs. Traditional and Roth IRAs are funded by the individual owner. SEP IRAs are funded by employers. SIMPLE IRAs are generally funded by employers and employees. Special tax rules apply to these accounts.
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Rollover Contribution
Definition The redeposit of amounts that were distributed from a retirement account, to an eligible retirement plan. A rollover contribution can be part of a
Rollovers as Business Startups- (ROBS)
(Before IRS guidance was issued, a ROBS – or R.O.B.S. was referred to on the ‘street’ as an ERSOP) Definition Use of retirement assets to
Revocation
Definition The act of revoking a contribution, rollover contribution , Roth conversion, or transfer to an IRA. An individual who establishes an IRA must be
Revocable Trust
Definition A trust, which, by its terms, cannot be modified, amended, or revoked. For tax purposes an irrevocable trust can be treated as a simple,
Reverse Mortgage
Definition Program that allows homeowners, typically age 62 and older, to convert the equity in their home to income. Under a reverse mortgage program, the
Revenue Ruling
Definition A revenue ruling is an official interpretation by the IRS of the Internal Revenue Code, related statutes, tax treaties and regulations. It is the
Revenue Procedure
Definition A revenue procedure is an official statement of a procedure that affects the rights or duties of taxpayers or other members of the public
Retirement Wealth Evaporation
Definition The shrinking in value of retirement asset , resulting in the reduction of amount available for retirement wealth decumulation. Wealth evaporation usually occurs as
Restorative payment
Definition Qualified Plans A payment that is made to restore losses to a retirement plan, where the loss is as a result from actions by
