Retirement Income Sources: Employer-Sponsored Plans (Ep.7)
What are the most important things you need to know about employer-sponsored retirement plans?
In this episode, David Koren talks about employer-sponsored retirement plans, focusing on defined benefit plans and defined contribution plans. He explains how these plans work, the investment responsibility, and the options for taking money out. David also touches on the history of pension plans and the government’s role in insuring them. He also covers options for handling money in a 401(k) plan after retirement, including leaving it in the plan, rolling it into a self-directed IRA, or converting it into a stream of income.
David discusses:
- What defined benefit plans and defined contribution plans are
- Where the investment responsibility is placed for each plan and what options are available for taking money out
- Different options for handling money in a 401(k) plan after retirement or changing jobs
- The benefits of rolling over a 401(k) into a self-directed IRA
- The advantages of a Roth IRA and the flexibility it offers
- And more
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