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March 3, 2009

Can I establish a joint-IRA for my wife and me?

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Can I establish a joint-IRA for my wife and me?

Can I establish a joint-IRA for my wife and me?

No. IRAs cannot be maintained as joint accounts. Each individual must maintain their IRAs in separate accounts

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Catch-up Contribution

Definition An additional contribution that can be made to a retirement plan by a participant who is at least age-50 by the end of the

Excess deferral

Definition Salary deferral contributions, contributions are limited to the lesser of the IRC § 402(g) limit or 100% of compensation. Salary deferral contributions in excess

Compensation Cap

Definition The compensation cap is the maximum amount of compensation that may be taken into consideration when determining contributions  to employer sponsored retirement plans,  such

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