Creating Your Own Retirement Plan: A Guide to Keoghs & Iras for the Self-Employed

by Slesnick, Twila; Suttle, John C.; Delpo, Amy

• ISBN13: 9780873377928
• ISBN10: 0873377923
• Edition: 2nd
• Format: Paperback
• Copyright: 2002-02-01
• Publisher: Nolo

Summary

People who work for themselves often neglect to plan for their retirement. Yet failing to stash away money and create a nest egg is akin to ignoring one's taxes or keeping poor records. It's financial roulette!Fortunately, it's not as difficult as people might think to create a homegrown retirement plan. Nolo's new book, Creating Your Own Retirement Plan, provides the straightforward information the self-employed need to select, establish and operate a retirement plan.Written by bestselling authors and retirement planners Slesnick and Suttle, this book discusses the various retirement plan options for the folks who call themselves boss: simple IRAs, SEP IRAs, traditional IRAs, Roth IRAs, profit-sharing plans, money purchase pension plans and defined benefit plans.In plain English, the book explains how to select the best plan, set it up, make contributions, administer the plan, and then -- finally -- receive distributions. The book also covers how to select a plan for any employees one might have.Filled with sample forms, Creating Your Own Retirement Plan is an essential book for any self-employed individual who doesn't want to play games with her financial future.

Table of Contents

I Introduction
Who Should Read This Book	2	(1)
Who Should Not Read This Book	3	(1)
How to Use This Book	3	(1)
What This Book Does Not Do	4	(1)
Icons Used in This Book	4
Retirement Plans for the Self-Employed: An Overview
Why Establish a Retirement Plan?	2	(4)
Choosing a Plan	6	(18)
Putting the Plan in Place	24	(2)
Maintaining the Plan	26
Comparing Plans
Employer Plans	3	(5)
Individual Plans: Traditional IRAs and Roth IRAs	8
Simple IRAs
What Is a Simple IRA?	3	(3)
How to Establish a Simple IRA	6	(2)
Contributions	8	(10)
Ongoing Administration	18	(1)
Distributions	19	(6)
Penalties	25	(8)
Terminating Your Simple IRA	33	(1)
Multiple Employer Plans	33	(3)
Adding a Traditional or Roth IRA to Your Simple IRA	36	(1)
Filling Out the Forms	37
SEPs
What Is a SEP?	3	(3)
How to Establish a SEP	6	(1)
Contributions	7	(6)
Ongoing Administration	13	(1)
Distributions	14	(5)
Penalties	19	(9)
Terminating Your SEP	28	(1)
Multiple Employer Plans	28	(4)
Adding a Traditional or Roth IRA to Your SEP	32	(1)
Filling Out the Forms	33
Profit Sharing Plans
What Is a Profit Sharing Plan?	3	(3)
How to Establish a Profit Sharing Plan	6	(5)
Contributions	11	(6)
Ongoing Administration	17	(2)
Distributions	19	(7)
Penalties	26	(5)
Terminating Your Profit Sharing Plan	31	(2)
Multiple Employer Plans	33	(5)
Adding a Traditional or Roth IRA to Your Profit Sharing Plan	38	(1)
Filling Out the Forms	38
401 (k) Plans
What Is a 401(k) Plan?	4	(2)
How to Establish a 401(k) Plan	6	(4)
Contributions	10	(11)
Tax Credit for Salary Reduction Contribution	21	(5)
Ongoing Administration	26	(1)
Distributions	27	(8)
Penalties	35	(4)
Terminating Your 401(k) Plan	39	(3)
Multiple Plans	42	(1)
Adding a Traditional or Roth IRA to Your 401(k) Plan	42
Defined Benefit Plans
What Is a Defined Benefit Plan?	3	(3)
How to Establish a Defined Benefit Plan	6	(4)
Contributions	10	(5)
Ongoing Administration	15	(3)
Distributions	18	(5)
Penalties	23	(7)
Terminating Your Defined Benefit Plan	30	(2)
Multiple Employer Plans	32	(3)
Adding a Traditional a Roth IRA Your Defined Benefit Plan	35
Traditional IRAs
What Is a Traditional IRA?	3	(2)
How to Establish a Traditional IRA	5	(3)
Contributions	8	(4)
Deductions	12	(4)
Tax Credit for IRA Contribution	16	(3)
Ongoing Administration	19	(1)
Distributions	20	(5)
Penalties	25	(7)
Multiple IRAs and Qualified Plans	32	(1)
Terminating Your IRA	33
Roth IRAs
What Is a Roth IRA?	3	(2)
How to Establish a Roth IRA	5	(3)
Contributions	8	(10)
Tax Credit for Roth IRA Contribution	18	(3)
Ongoing Administration	21	(1)
Distributions	22	(7)
Penalties	29	(13)
Multiple IRAs and Qualified Plans	42	(1)
Terminating Your Roth IRA	42
Glossary
Appendix
Index