|
#4
02-05-2009, 07:51 PM
| |||
| |||
 Re: Company forcing me to take 2009 Minimum Distribution On Feb 4, 11:47*pm, kam...[at]panix.com (Arthur Kamlet) wrote: - quote - > In article <3e712c13-e9da-4c42-aaba-142594458...[at]k36g2000pri.googlegroups.com> ,
good idea. thanks> Jane *<googlemail2...[at]yahoo.com> wrote: > > I have a 401k with John Hancock. *I recently received a letter telling > > me what the MD is for 2009. *I contacted them to tell them about the > > law that Bush signed waiving the MD for this year. > > They told me that accepting the waiver is "optional" for the Plan and > > that JH decided that the MD for 2009 was still mandatory. > > They're nuts, right? > > I don't know who to contact about this or how to prove to them that > > they are wrong. > > Or - are they right? > Their lawyers haven't issued the memo yet. Hope they do. > Meanwhile if you receive a distribution, within 60 days roll it into > an IRA. * That may be the best you can do. > -- > ArtKamlet *at *a o l dot c o m *Columbus OH *K2PZH -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
|
#3
02-05-2009, 03:47 AM
| |||
| |||
| Re: Company forcing me to take 2009 Minimum Distribution In article <3e712c13-e9da-4c42-aaba-142594458605[at]k36g2000pri.googlegroups.com> , Jane <googlemail2003[at]yahoo.com> wrote: - quote - > I have a 401k with John Hancock. I recently received a letter telling > me what the MD is for 2009. I contacted them to tell them about the > law that Bush signed waiving the MD for this year. > They told me that accepting the waiver is "optional" for the Plan and > that JH decided that the MD for 2009 was still mandatory. > They're nuts, right? > I don't know who to contact about this or how to prove to them that > they are wrong. > Or - are they right? Their lawyers haven't issued the memo yet. Hope they do. Meanwhile if you receive a distribution, within 60 days roll it into an IRA. That may be the best you can do. -- ArtKamlet at a o l dot c o m Columbus OH K2PZH -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
|
#2
02-04-2009, 10:55 PM
| |||
| |||
| Re: Company forcing me to take 2009 Minimum Distribution Jane wrote: - quote - > I have a 401k with John Hancock. I recently received a letter telling
the law allows a taxpayer to forgo taking their RMD. There is> me what the MD is for 2009. I contacted them to tell them about the > law that Bush signed waiving the MD for this year. > They told me that accepting the waiver is "optional" for the Plan and > that JH decided that the MD for 2009 was still mandatory. > They're nuts, right? > I don't know who to contact about this or how to prove to them that > they are wrong. > Or - are they right? This makes no sense, especially for John Hancock. The change in nothing in the law change that says anything is optional for a plan. This comment has come up before and what I have discovered is that many plans are informing their members that if they have set up automatic distributions of any kind (monthly, quarterly, once a year, etc.) that distribution will take place in 2009 unless they inform the plan to suspend it. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
|
#1
02-04-2009, 10:38 PM
| |||
| |||
| Re: Company forcing me to take 2009 Minimum Distribution On Feb 4, 2:19*pm, "Phil Marti" <prm20...[at]verizon.net> wrote: - quote - > "Jane" wrote:
This is actually my husband's 401k and he refuses.> > I have a 401k with John Hancock. *I recently received a letter telling > > me what the MD is for 2009. *I contacted them to tell them about the > > law that Bush signed waiving the MD for this year. > > They told me that accepting the waiver is "optional" for the Plan and > > that JH decided that the MD for 2009 was still mandatory. > > They're nuts, right? > No, you are if you leave your money there. *Can you roll it over without > incurring some sort of fee? > -- > Phil Marti > Clarksburg, MD -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
|
02-04-2009, 06:19 PM
| |||
| |||
| Re: Company forcing me to take 2009 Minimum Distribution "Jane" wrote: - quote - > I have a 401k with John Hancock. I recently received a letter telling
No, you are if you leave your money there. Can you roll it over without> me what the MD is for 2009. I contacted them to tell them about the > law that Bush signed waiving the MD for this year. > They told me that accepting the waiver is "optional" for the Plan and > that JH decided that the MD for 2009 was still mandatory. > They're nuts, right? incurring some sort of fee? -- Phil Marti Clarksburg, MD -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
|
#-1
02-04-2009, 05:59 PM
| |||
| |||
| Company forcing me to take 2009 Minimum Distribution I have a 401k with John Hancock. I recently received a letter telling me what the MD is for 2009. I contacted them to tell them about the law that Bush signed waiving the MD for this year. They told me that accepting the waiver is "optional" for the Plan and that JH decided that the MD for 2009 was still mandatory. They're nuts, right? I don't know who to contact about this or how to prove to them that they are wrong. Or - are they right? -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
Similar Threads | ||||
| Thread | Forum | Replies | Last Post | |
| 401k minimum distribution mascot: I have both regular IRA and 401k accounts. When I turn 70 1/2 next year, can I combine the amounts for the purpose of computing the minimum... | Taxes | 10 | 04-02-2005 07:17 AM | |
| IRA Minimum Distribution not taken W A Mates: My mother, who is 78 and can be forgetful, was required to take a minimum distribution of $8450 for tax year 2003. She forgot and instead took... | Taxes | 5 | 04-07-2004 09:46 AM | |
| Forcing to pay tax return by the company nominated agent Shettyna: Thanks. << -------------------------------------------------><< The Charter and the Guidelines for submitting ><< messages to this newsgroup... | Taxes | 1 | 02-05-2004 07:57 PM | |
| SEP & Required Minimum Distribution karl1973@my-deja.com: My 74-year-old father continues to work and make contributions to his SEP-IRA. On April 9, 2003 he made a $6,000 contribution to his SEP for tax... | Taxes | 13 | 12-17-2003 08:26 AM | |
| Minimum distribution questin HW \Skip\ Weldon: If son inherits father's IRA, and wishes lifetime income based on his (son's) life expectancy, he must begin those withdrawals not later than the... | Financial Planning | 2 | 10-16-2003 12:46 AM | |
| Thread Tools | |
| Display Modes | |
| |
Linear Mode
