Rollover And Withholding Rules Forqualified Plan Distributions: Payment Paid To Surviving Spouses And Other Beneficiaries
Rules that apply to employee distributions (see rollover and withholding rules for qualified plan distributions: payment paid to employee) and that also apply to distributions to surviving spouses of employees and other beneficiaries. The surviving spouse can elect to have an eligible rollover distribution paid into a direct rollover to an individual retirement account (IRA) or to the surviving spouse. If the distribution is paid directly to the surviving spouse, that spouse may retain it or roll it over into an IRA. Beneficiaries other than the surviving spouse cannot elect a direct rollover, and cannot in turn roll over the distribution. Surviving spouse's and other beneficiaries' distributions are not subject to the additional 10% tax penalty, even if they are under the age of 59 1/2.
Popular Insurance Terms
Coverage for shippers of certain radioactive materials, such as medical or commercial isotopes, for direct loss or damage by radioactive contamination; does not cover transport of ...
Coverage for a practicing physician, surgeon, or dentist, when bodily injury, personal injury, and/or property damage is incurred by a patient and the patient sues for injuries and/or ...
Part of the Balanced Budget Act of 1997 that permits medicare recipients to select coverage among various private health care plans to include HMOS, PPOS, POINT-of-SERVICE (POS), MEDICAL ...
Insured sum paid regularly to a married partner (usually a wife but sometimes a husband) of a retired worker. There are several forms: The Federal Retirement Equity Act mandates a spouse's ...
Type of excess of loss reinsurance in which the insurance company (cedent) cedes its known loss revenues to its reinsurer. ...
Coverage for liability exposure resulting from the activities of a business; includes: direct liability acts of the business resulting in damage or destruction of another party's property ...
Same as term Common Disaster Clause: wording in life insurance policies to determine the order of deaths whenthe insured and the beneficiary die in the same accident. For example, if the ...
Supplemental coverage written into or endorsed onto many business and personal liability policies. Covers medical costs and loss of income of persons injured on an insured's property, ...
Employee benefit insurance plan whose objective is to provide the retired employee with life insurance. This group life insurance product is composed of two basic parts: annually renewable ...
Have a question or comment?
We're here to help.