Tag: IRS
Workers are apparently very eager to get their hands on the money in their retirement savings plans. The evidence is the spike in withdrawals from IRA accounts that occurs soon after people turn 59½, the age at which the IRS’ 10 percent penalty on early withdrawals vanishes and is no longer a deterrent, according to…
On August 17, the Internal Revenue Service released a private letter ruling that could make it easier for employers to use their 401(k) plans to assist their employees who are repaying student loan debt. Over the last decade student loan debt has nearly tripled in real terms and, today, Americans hold $1.4 trillion in student…
