Which of the following is an unforeseeable emergency that would permit distributions from a Section 457 plan?

A profit sharing plan may provide some death benefits.

Jim Tandy, age 65, will retire next month from Algor Industries. Last month, Jim withdrew $40,000 from his qualified retirement savings plan at work. Before the withdrawal, Jim had an account balance of $500,000. While employed at Algor, Jim made $100,000 of after-tax contributions to his retirement plan. The taxable portion of his withdrawal is

Tara designated a trust as beneficiary of her IRA. The following are beneficiaries of the trust at Tara’s death: her spouse (age 70), her brother (age 72), her daughter (age 50), and her son (age 48). The life expectancy of which trust beneficiary is used to determine required minimum distributions?

Advantages of rolling a qualified plan over to an IRA include

The death benefit from group-term life insurance is not tax-free to the beneficiary.

The benefit is taxable to the employee when the DBO plan is purchased.

One of the objectives of a benefit plan is to provide employee benefits that are comparable to those offered by other employers in the industry.

Advantages of rolling a qualified plan over to an IRA include

Bob Jolly is 73 this year. He has been a key employee of Appleton Bookkeeping Services since he joined the company 50 years ago. The owner of Appleton would love it if Bob stayed on indefinitely. Bob is in excellent health and has developed a wide clientele that enjoys his wit and charm as well as his broad experience and expertise. Bob says he’ll retire at 75 “while he still has some time to enjoy retirement.” Appleton Bookkeeping established SIMPLE IRAs for employees 5 years ago. Which of the following is (are) true for Bob?