February 16, 2009
Contribution made by a participant to an employer sponsored plan on an after-tax basis. Nondeductible employee contributions are typically made to a 401(k) or 403(b) plan. Nondeductible employee contribution are usually maintained in separate accounts from other plan assets
IRC § 401(k), IRC § 403(b),
RMD Correction window The correction window is the period during which a missed required minimum distribution (RMD) can be corrected in a way that may
Definition A distribution that is excludable from the distributee’s income, as a result of meeting the following requirements: It is made after the distributee reaches
Definition Also known as the Saver’s Tax Credit: Nonrefundable tax credit available to eligible individuals who make contributions to their retirement account. The saver’s credit
Who is an active participant? Active participant status affects an individual’s eligibility to take a deduction for a contribution to a traditional IRA on his/her