ERISA stands for the Employee Retirement Income Security Act. It is a federal law that sets minimum standards for retirement and health plans in private industry. ERISA covers things like eligibility requirements, fiduciary responsibilities, and reporting and disclosure requirements for these plans.
false--ERISA was designed to do that
There are non-government 457 retirement plans available. Your employer will be able to tell you if a 457 retirement plan is an option at your work place.
Since IRA accounts are not governed by ERISA law as are 401(k) plans and other qualified retirement plans (such as 403(b) and others), the spouse is not required to be the default beneficiary. For those plans governed by ERISA, a spouse must either be the beneficiary of the plan or must have authorized any other beneficiary designation. IRAs (both traditional and Roth IRAs) do not have this restriction: you can name anyone you wish as the beneficiary of your IRA account.
No, except to another non-governmental 457 plan. Governmental 457 plans can be rolled over to another type of plan.
Someone can find more information about the ERISA law by visiting the United States Department of Labor website. The Employee Retirement Income Security Act (ERISA) is a federal law that sets minimum standards for most voluntarily established pension and health plans in private industry. It was signed in 1974.
No, you can only roll a 457 into a traditional IRA As of January 1, 2008, you can roll over pre-tax 401(k), 401(a), 403(b), and 457 plans directly into a Roth IRA
There are a few companies where you can learn about a 457 plan online. Nationwide is becoming widely known in the field of auto insurance, but it can also help with retirement. There is a page on their official website that discusses 457 retirement plans.
Ramon Paul DeGennaro has written: 'Understanding 401(k) plans' -- subject(s): 401(k) plans, 403(b) plans, 457 plans, Defined benefit pension plans
If you work for a company that offers 401k benefits it is best to ask your manager or human resources representative for more information on this program, matching deposits, interest fees, and other details. Howevere, if your company does not offer this plan a bank can help you with basic details different retirement plans such as a 401k.
yes
erisa?