401a & 403b same as 401k?

[Saving$]

For purposes of retiring after RMD age, are the rules for a 401a & a 403b the same as the rules for a 401k? Specifically:

1. If both 401a & 403b are entirely pretax dollars, is there any reason they should not both be rolled over from the ex employers expensive company to a Vanguard IRA?
2. Is there any reason to not combine the two into one IRA?
3. Are both of these subject to full RMD (based on 12/31/22) balance prior to the rollover to an IRA for an owner who retires after RMD age?
4. Is there anything about these that would be different than a 401k for the owner, once the owner retires?

Thanks.

[lakpr]

1) No
2) No
3) Yes, double check that the person is indeed required to take RMDs this year. The RMD age has been extended to 72 years ad part if SECURE 2.0 , not 70 any more, it depends on the birthdate and birth month
4) I cannot say about the 403(b), but 401(a) and 401(k) plans are governed by ERISA. Meaning funds in these accounts are beyond the reach of creditors of the plan beneficiaries. If rolled into an IRA, the funds are governed by state laws. In certain states, CA being the most notorious, these funds may not be protected any more.

In certain states, I know NJ and PA, the 403(b) contributions are not tax deductible, when you make them. Meaning you pay state taxes but not Federal taxes when contributing. At the time of withdrawal, each withdrawal is taxed as a proportional withdrawal of contributions and growth, and the state expects taxes only on the growth. If you did not keep track of your contributions, you could end up paying taxes twice to the state.

Simplified example: you contribute $10k per year for 30 years in the 403(b) plan. At the end of 30 years, the value of the account is $1 million. Now you retire and withdraw $50k for living expenses.

The $50k should be treated as $15k contributions and $35k of growth. You should pay taxes only on $35k but if you didn’t keep track of what you contributed over the years, you may pay taxes on the entire $50k. Of course, the state will be happy to receive extra taxes

If you roll the 403(b) to an IRA, this contribution information will be lost, that record keeping burden is on you.

[ResearchMed]

4) I cannot say about the 403(b), but 401(a) and 401(k) plans are governed by ERISA

At least some 403b plans are also governed by ERISA.
(Our University plan is.)

1. If both 401a & 403b are entirely pretax dollars, is there any reason they should not both be rolled over from the ex employers expensive company to a Vanguard IRA?

Some 403b plans (and perhaps some 401-type plans) may have investment choices that are not available in IRAs. In fact, a few of the 403b investments may not be available anywhere other than in the 403b plan.

One example is with TIAA. They have their "Traditional Annuity", which one might later decide to turn into a life annuity, but that's not required. Within the 403b version of Trad Ann, there can be higher interest rates, including higher guaranteed minimum interest (of 3% in some plans, which was very nice during those very low interest rate years).
And Trad Ann is available in IRA accounts, but under different and probably less favorable terms.
So if someone moves money out of the 403b plan, they may lose the chance to use an investment they may, sooner or later, want to use.

There are also choices like stable value funds that don't tend to be available outside of the Employer plans.
(One reason for this is that 403b/etc., plans have "captive money", money that Employees have limited (or no) access to until they separate from Employer. This allows financial vendors to offer better rates, as there is limited liquidity; the money is locked up for relatively long periods of time, on average/overall.)

2. Is there any reason to not combine the two into one IRA?

In some states, 403b ERISA money that is rolled over to an IRA account that is NOT commingled with outside money will have some/all of the ERISA protections. (These include protection from bankruptcy proceedings.)

Finally...

...the ex employers expensive company...

Not all Employer plans are more expensive than non-Employer plans such as IRAs, although some definitely are, and in some cases, significantly more expensive, unfortunately.
That's something that can be checked for any specific plan when trying to make these decisions.

RM

[Chuckles960]

Since you are retiring after RMD age, RMD probably will not be required from 401k/403b while you are still working, while it will be required from an IRA.

[crefwatch]

There are a small number of 403(b) plans that (paternalistically, usually, no profit motive really) make it very hard to take money out of the plan (even as a rollover to an IRA) before BOTH age 59.5 and termination of employment or retirement. Some financial service providers really want to see a written confirmation of Termination of Employment from the employer.

[22twain]

One example is with TIAA. They have their "Traditional Annuity" [...]
And Trad Ann is available in IRA accounts, but under different and probably less favorable terms.

But only in IRA accounts at TIAA, correct? I've never read about being able to hold TIAA Traditional outside of TIAA.

[ResearchMed]

One example is with TIAA. They have their "Traditional Annuity" [...]
And Trad Ann is available in IRA accounts, but under different and probably less favorable terms.

But only in IRA accounts at TIAA, correct? I've never read about being able to hold TIAA Traditional outside of TIAA.

I think you are correct.

However, the point I was trying to make is that those IRA-based Trad Ann are available to those who do *not* have an Employer plan at TIAA.
The downside is that the terms are less favorable, but right now, the IRA rate for money contributed now, the rate is 5.200%.

For comparison, the Trad Ann rates in our TIAA 403b plan are:
Liquid: 5.750%;
Illiquid: 6.500%
There are other rates in some other plan "versions"...

These rates could change for new money next month (or not!), and all rates could re-set each March.
But the relative rates now are a hint about whether one might want to use the TIAA IRA.
Keep in mind that some money market funds are offering over 5% now, so Trad Ann in an IRA isn't necessarily a "great deal", at least at this time.

I also don't remember if "anyone" can open an IRA at TIAA, or if one must already have an account, had an account, or similar.

RM

[Saving$]

2. Is there any reason to not combine the two into one IRA?

In some states, 403b ERISA money that is rolled over to an IRA account that is NOT commingled with outside money will have some/all of the ERISA protections. (These include protection from bankruptcy proceedings.)

How can I figure out which states that applies to?

Neither the 401a or 403b are TIAA; they are both Principal, and the funds have high ER's. The retiree is not interested in annuitizing, and I doubt Principal has decent annuities. Appreciate the info.

[crefwatch]

How can I figure out which states that applies to?

Neither the 401a or 403b are TIAA; they are both Principal, and the funds have high ER's. The retiree is not interested in annuitizing, and I doubt Principal has decent annuities. Appreciate the info.

Why don't you just name the state if you are seeking free legal and tax-preparation advice? I'd think that the customer's own accountant or lawyer might have an opinion about whether stronger protection from lawsuits or judgements is actually important for the customer. One value of an IRA rollover can be simplification of paperwork, especially if there are multiple retirement plans.

I'd warn that sometimes this newsboard's collective wisdom leans towards getting rid of a 0.45% ER in exchange for a 0.25% ER. Especially if the account is just $100,000 or less, this may be a little too fanatic Boglehead-ism. But it's true that some 403(b) plans are outrageously expensive. Even a not-for-profit company like Mutual of America can be an expensive provider.

Note that the calculation and removal of RMD money has to be done separately for IRA's and for 403(b)'s. This doesn't cost any extra, it just requires two pay-outs each year. I live in NJ, so I can confirm about 403(b) deposits being taxable in the year earned.

[grabiner]

There are a small number of 403(b) plans that (paternalistically, usually, no profit motive really) make it very hard to take money out of the plan (even as a rollover to an IRA) before BOTH age 59.5 and termination of employment or retirement. Some financial service providers really want to see a written confirmation of Termination of Employment from the employer.

As a similar example, I used to teach at the University of Michigan. After I left, I could roll my own contributions to an IRA, but Michigan wouldn't let me withdraw the employer match (401(a) money) until I turned 55.

[ResearchMed]

There are a small number of 403(b) plans that (paternalistically, usually, no profit motive really) make it very hard to take money out of the plan (even as a rollover to an IRA) before BOTH age 59.5 and termination of employment or retirement. Some financial service providers really want to see a written confirmation of Termination of Employment from the employer.

As a similar example, I used to teach at the University of Michigan. After I left, I could roll my own contributions to an IRA, but Michigan wouldn't let me withdraw the employer match (401(a) money) until I turned 55.

Our University 403b plan allows one to remove the Employee-contributed money (and returns) once one is (59.5, I think) whenever one wishes.
They are somewhat less parentalistic than some other employers.

There is also an Employer "contribution". It's not a "match"; one gets it regardless of whether one contributes anything or not.
That money cannot be touched until separation, with one exception: If one is at least 55 and less than half time, then there is a "life-expectancy amount" that can be removed per year.

In either case, one can roll the money to another type of account elsewhere or just pay taxes and put the money into a taxable or Roth account.

RM

[student]

There are a small number of 403(b) plans that (paternalistically, usually, no profit motive really) make it very hard to take money out of the plan (even as a rollover to an IRA) before BOTH age 59.5 and termination of employment or retirement. Some financial service providers really want to see a written confirmation of Termination of Employment from the employer.

Pure speculation of my part, I think one possible self-serving motive of such restrictions at employers such as universities, is that they do not want old and less productive tenured faculty members, who somehow depleted their retirement savings, to delay their retirement. My employer has such restrictions on money that they put in (age + separation of employment) and less restrictions on employee's contributions (age).

[Saving$]

How can I figure out which states that applies to?

Why don't you just name the state if you are seeking free legal and tax-preparation advice? I'd think that the customer's own accountant or lawyer might have an opinion about whether stronger protection from lawsuits or judgements is actually important for the customer. One value of an IRA rollover can be simplification of paperwork, especially if there are multiple retirement plans.

OK sure - just thought a link to an article that explains this would be more useful to a greater audience than info on one state. The retiree lives in Georgia and does not have either an accountant or lawyer. As a relative, 25+ years ago I advised the retiree to contribute to their employers retirement plans, and I help the person every year file taxes with their DIY software; as such I was asked about this issue.

I've suggested and advised the retiree to get a lawyer to make sure their will and beneficiaries are all how they want them, but suggest and advise is all I can do.

Neither the 401a or 403b are TIAA; they are both Principal, and the funds have high ER's. The retiree is not interested in annuitizing, and I doubt Principal has decent annuities. Appreciate the info.

I'd warn that sometimes this newsboard's collective wisdom leans towards getting rid of a 0.45% ER in exchange for a 0.25% ER. Especially if the account is just $100,000 or less, this may be a little too fanatic Boglehead-ism. But it's true that some 403(b) plans are outrageously expensive. Even a not-for-profit company like Mutual of America can be an expensive provider.

ER's in employers plans hover around 0.8 for the index funds. Seems pretty high to me. Retiree took my advice 25 years ago and has been contributing to the plan, so more than $100k, but still hoping the total it is enough to tide them through the rest of life. The retiree is over 75, and kept working past retirement age for many reasons, including that there was not enough to retire on at 65.

Note that the calculation and removal of RMD money has to be done separately for IRA's and for 403(b)'s. This doesn't cost any extra, it just requires two pay-outs each year. I live in NJ, so I can confirm about 403(b) deposits being taxable in the year earned.

Can you please explain this? I have an interest in the retiree simplifying things, since I'll probably be the one handling this if/when the retiree ever can't do it on their own, and since simpler will be less prone to error and will enable retiree to do on their own longer. However, if there any downside, I'd like to note that so we can discuss the pros and cons. Retiree has pretax accounts as follows:
- IRA that was rollover from previous employer 30+ years ago that has been at Vanguard
- 401a pending rollover to Vanguard
- 403b pending rollover to Vanguard
Is there a reason for the 401a and/or 403b to remain separate IRA's at Vanguard or to not be rolled to Vanguard at all?
If they are all separate, but all at Vanguard, will Vanguard still provide total required RMD's?
If there are separate accounts, do the RMD's need to be taken out of each account, or is it sufficient to take the total required from one account?

[Saving$]

Bump...I've googled this extensively with no answers so hoping some Bogleheads can either provide some links or some info...

[MathWizard]

1) No
2) No
3) Yes, double check that the person is indeed required to take RMDs this year. The RMD age has been extended to 72 years ad part if SECURE 2.0 , not 70 any more, it depends on the birthdate and birth month
4) I cannot say about the 403(b), but 401(a) and 401(k) plans are governed by ERISA. Meaning funds in these accounts are beyond the reach of creditors of the plan beneficiaries. If rolled into an IRA, the funds are governed by state laws. In certain states, CA being the most notorious, these funds may not be protected any more.

In certain states, I know NJ and PA, the 403(b) contributions are not tax deductible, when you make them. Meaning you pay state taxes but not Federal taxes when contributing. At the time of withdrawal, each withdrawal is taxed as a proportional withdrawal of contributions and growth, and the state expects taxes only on the growth. If you did not keep track of your contributions, you could end up paying taxes twice to the state.

Simplified example: you contribute $10k per year for 30 years in the 403(b) plan. At the end of 30 years, the value of the account is $1 million. Now you retire and withdraw $50k for living expenses.

The $50k should be treated as $15k contributions and $35k of growth. You should pay taxes only on $35k but if you didn’t keep track of what you contributed over the years, you may pay taxes on the entire $50k. Of course, the state will be happy to receive extra taxes

If you roll the 403(b) to an IRA, this contribution information will be lost, that record keeping burden is on you.

The new law has increased the first RMD age to 73 or 75 for those not already taking RMDs depending on year of birth.

The change was
Birth year

1951 to 1959. 73
1960+ 75

age

[retire2022]

For purposes of retiring after RMD age, are the rules for a 401a & a 403b the same as the rules for a 401k? Specifically:

3. Are both of these subject to full RMD (based on 12/31/22) balance prior to the rollover to an IRA for an owner who retires after RMD age?
4. Is there anything about these that would be different than a 401k for the owner, once the owner retires?

Thanks.

Op

A 401a it is designed for local and municipal employees with a 66,000K contribution limit compared to 401k at 22,500, with that said it depends on the program and your savings rate and any future changes in the rules in the future we don't know of.

More on 401a: https://www.investopedia.com/ask/answer ... itation-10

comparison chart:

https://www.missionsq.org/plan-sponsors ... ion-limits

"Specific IRS Guidelines

As of 2023, the maximum allowable contribution to a 401(a) plan is $66,000 or 100% of salary, whichever is smaller. This is up from $61,000 in 2022, and these figures exclude the $7,500 potential catch-up for certain participants. "

https://www.investopedia.com/ask/answer ... itation-14

reference documents on RMD for 401, 403b & 457 with changes to include SECURE Act 2.0 FAQ

https://www.irs.gov/retirement-plans/re ... tions-faqs

[Katietsu]

Can you please explain this? I have an interest in the retiree simplifying things, since I'll probably be the one handling this if/when the retiree ever can't do it on their own, and since simpler will be less prone to error and will enable retiree to do on their own longer. However, if there any downside, I'd like to note that so we can discuss the pros and cons. Retiree has pretax accounts as follows:
- IRA that was rollover from previous employer 30+ years ago that has been at Vanguard
- 401a pending rollover to Vanguard
- 403b pending rollover to Vanguard
Is there a reason for the 401a and/or 403b to remain separate IRA's at Vanguard or to not be rolled to Vanguard at all?
If they are all separate, but all at Vanguard, will Vanguard still provide total required RMD's?
If there are separate accounts, do the RMD's need to be taken out of each account, or is it sufficient to take the total required from one account?

If there is money in a 401a, a 403 b and an IRA, each will have their own RMD which must be calculated and withdrawn separately. However, you can just set up automatic RMDs for each account. For instance, my spouse has an inherited IRA and each November the RMD just shows up in the checking account.

If there are three separate IRA’s, the RMD amount can be calculated on the total and withdrawn from just one or two accounts. In practice, only financial hobbyist like BH forum members tend to do manually withdraw RMDs. Some retirees need the money to pay the electric bill so they set up monthly distributions which exceeds RMDs anyway. Otherwise, most retirees, in my experience, just sign up for the provider, eg Vanguard, to automatically withdraw the RMD each year.

The simplest set up would be to roll everything into one IRA and set up an automatic RMD withdrawal from it.

Does this answer your question?

[Saving$]

Can you please explain this? I have an interest in the retiree simplifying things, since I'll probably be the one handling this if/when the retiree ever can't do it on their own, and since simpler will be less prone to error and will enable retiree to do on their own longer. However, if there any downside, I'd like to note that so we can discuss the pros and cons. Retiree has pretax accounts as follows:
- IRA that was rollover from previous employer 30+ years ago that has been at Vanguard
- 401a pending rollover to Vanguard
- 403b pending rollover to Vanguard
Is there a reason for the 401a and/or 403b to remain separate IRA's at Vanguard or to not be rolled to Vanguard at all?
If they are all separate, but all at Vanguard, will Vanguard still provide total required RMD's?
If there are separate accounts, do the RMD's need to be taken out of each account, or is it sufficient to take the total required from one account?

If there is money in a 401a, a 403 b and an IRA, each will have their own RMD which must be calculated and withdrawn separately. However, you can just set up automatic RMDs for each account. For instance, my spouse has an inherited IRA and each November the RMD just shows up in the checking account.

If there are three separate IRA’s, the RMD amount can be calculated on the total and withdrawn from just one or two accounts. In practice, only financial hobbyist like BH forum members tend to do manually withdraw RMDs. Some retirees need the money to pay the electric bill so they set up monthly distributions which exceeds RMDs anyway. Otherwise, most retirees, in my experience, just sign up for the provider, eg Vanguard, to automatically withdraw the RMD each year.

The simplest set up would be to roll everything into one IRA and set up an automatic RMD withdrawal from it.

Does this answer your question?

Partially.
It answers:

If they are all separate, but all at Vanguard, will Vanguard still provide total required RMD's?
If there are separate accounts, do the RMD's need to be taken out of each account, or is it sufficient to take the total required from one account?

What I am still trying to figure out is:

Is there a reason for the 401a and/or 403b to remain separate IRA's at Vanguard or to not be rolled to Vanguard at all?

I fully understand rolling them all into one Vanguard IRA (or even combining them with the existing Vanguard IRA) is the simplest.
What I still don't know is:

3. Are both of these subject to full RMD (based on 12/31/22) balance prior to the rollover to an IRA for an owner who retires after RMD age?
4. Is there anything about these that would be different than a 401k for the owner, once the owner retires?

and I'd also like to understand which states ResearchMed's comment applies to:

In some states, 403b ERISA money that is rolled over to an IRA account that is NOT commingled with outside money will have some/all of the ERISA protections. (These include protection from bankruptcy proceedings.)

As noted in my previous comments, retiree is well over all RMD ages, person is retired so there are no questions about contribution rules/limits, etc. The question at hand is the details of how to handle these funds post retirement - ie
is there some (unknown to me) benefit of these funds remaining in Principals high ER 401(a) and 403(b)plans vs rollover to Vanguard IRA? To my knowledge this is an option, as the funds are well over the threshold, and the employer from which the retiree retired is sufficiently large to be an ongoing concern. The obvious downsides are high ER's and less simplicity.

Also a new question: If the funds are NOT rolled over to an IRA, are they both still subject to RMD's in the year of retirement or does that clause only kick in if the funds are rolled? (remember, retiree is over 75, which exceeds all RMD ages).

[toddthebod]

Can you please explain this? I have an interest in the retiree simplifying things, since I'll probably be the one handling this if/when the retiree ever can't do it on their own, and since simpler will be less prone to error and will enable retiree to do on their own longer. However, if there any downside, I'd like to note that so we can discuss the pros and cons. Retiree has pretax accounts as follows:
- IRA that was rollover from previous employer 30+ years ago that has been at Vanguard
- 401a pending rollover to Vanguard
- 403b pending rollover to Vanguard
Is there a reason for the 401a and/or 403b to remain separate IRA's at Vanguard or to not be rolled to Vanguard at all?
If they are all separate, but all at Vanguard, will Vanguard still provide total required RMD's?
If there are separate accounts, do the RMD's need to be taken out of each account, or is it sufficient to take the total required from one account?

If there is money in a 401a, a 403 b and an IRA, each will have their own RMD which must be calculated and withdrawn separately. However, you can just set up automatic RMDs for each account. For instance, my spouse has an inherited IRA and each November the RMD just shows up in the checking account.

If there are three separate IRA’s, the RMD amount can be calculated on the total and withdrawn from just one or two accounts. In practice, only financial hobbyist like BH forum members tend to do manually withdraw RMDs. Some retirees need the money to pay the electric bill so they set up monthly distributions which exceeds RMDs anyway. Otherwise, most retirees, in my experience, just sign up for the provider, eg Vanguard, to automatically withdraw the RMD each year.

The simplest set up would be to roll everything into one IRA and set up an automatic RMD withdrawal from it.

Does this answer your question?

Partially.
It answers:

If they are all separate, but all at Vanguard, will Vanguard still provide total required RMD's?
If there are separate accounts, do the RMD's need to be taken out of each account, or is it sufficient to take the total required from one account?

What I am still trying to figure out is:

Is there a reason for the 401a and/or 403b to remain separate IRA's at Vanguard or to not be rolled to Vanguard at all?

I fully understand rolling them all into one Vanguard IRA (or even combining them with the existing Vanguard IRA) is the simplest.
What I still don't know is:

3. Are both of these subject to full RMD (based on 12/31/22) balance prior to the rollover to an IRA for an owner who retires after RMD age?
4. Is there anything about these that would be different than a 401k for the owner, once the owner retires?

and I'd also like to understand which states ResearchMed's comment applies to:

In some states, 403b ERISA money that is rolled over to an IRA account that is NOT commingled with outside money will have some/all of the ERISA protections. (These include protection from bankruptcy proceedings.)

As noted in my previous comments, retiree is well over all RMD ages, person is retired so there are no questions about contribution rules/limits, etc. The question at hand is the details of how to handle these funds post retirement - ie
is there some (unknown to me) benefit of these funds remaining in Principals high ER 401(a) and 403(b)plans vs rollover to Vanguard IRA? To my knowledge this is an option, as the funds are well over the threshold, and the employer from which the retiree retired is sufficiently large to be an ongoing concern. The obvious downsides are high ER's and less simplicity.

Also a new question: If the funds are NOT rolled over to an IRA, are they both still subject to RMD's in the year of retirement or does that clause only kick in if the funds are rolled? (remember, retiree is over 75, which exceeds all RMD ages).

It would be easier for you to tell us the one state you live in rather than someone here listing the rules for the 49 states you do not live in.

[Admiral]

1) No
2) No
3) Yes, double check that the person is indeed required to take RMDs this year. The RMD age has been extended to 72 years ad part if SECURE 2.0 , not 70 any more, it depends on the birthdate and birth month
4) I cannot say about the 403(b), but 401(a) and 401(k) plans are governed by ERISA. Meaning funds in these accounts are beyond the reach of creditors of the plan beneficiaries. If rolled into an IRA, the funds are governed by state laws. In certain states, CA being the most notorious, these funds may not be protected any more.

In certain states, I know NJ and PA, the 403(b) contributions are not tax deductible, when you make them. Meaning you pay state taxes but not Federal taxes when contributing. At the time of withdrawal, each withdrawal is taxed as a proportional withdrawal of contributions and growth, and the state expects taxes only on the growth. If you did not keep track of your contributions, you could end up paying taxes twice to the state.

Simplified example: you contribute $10k per year for 30 years in the 403(b) plan. At the end of 30 years, the value of the account is $1 million. Now you retire and withdraw $50k for living expenses.

The $50k should be treated as $15k contributions and $35k of growth. You should pay taxes only on $35k but if you didn’t keep track of what you contributed over the years, you may pay taxes on the entire $50k. Of course, the state will be happy to receive extra taxes

If you roll the 403(b) to an IRA, this contribution information will be lost, that record keeping burden is on you.

I am not going to say this is "wrong" but it needs checking. See herehttps://www.revenue.pa.gov/FormsandPublications ... ev-636.pdf

What are Pennsylvania’s rules
regarding IRAs?
Following are the most commonly applicable
personal income tax rules with regard to traditional
and Roth IRAs.
• Contributions are not tax deductible.
• Withdrawals are generally not taxable after a
taxpayer reaches retirement age and retires.
• Payments employers make for the
benefit of employees directly to IRA trustees
or issuers may be excluded from
compensation.
• IRA contributions made by, on behalf of or
attributable to an employee or selfemployed
person – regardless of whether
the contributions were made directly or indirectly;
through a payroll deduction or a
salary reduction agreement; or otherwise –
may not be excluded or deducted from
income for PA personal income tax
purposes.
• Income on assets held in an IRA is not
taxable.
• Distributions can be considered income for
PA personal income tax purposes to the
extent distributions exceed the contributions
to the plan when distributions are made
before the IRA owner reaches 59 ½ years of
age.
• The cost-recovery method is used to determine
the portion of distributions to be
included in income.

Qualified withdrawals from an IRA in Pennsylvania and not taxable at the state level.

[Saving$]

It would be easier for you to tell us the one state you live in rather than someone here listing the rules for the 49 states you do not live in.

I posted the state the retiree lives in, since that is what seems relevant to the discussion. Why will it matter where I live?

[FIRWYW]

OP. From your comments above, Seems like you have a particular interest in asset protection in addition to fees. A good resource for you might be Jim Dahle’s guide to asset protection (Amazon link below). (I paid less and thought it was worth it, would check it out at library if you can). Has a good explanation of what terms mean, what is protected for federal ERISA laws and a section on each states laws. Looks like Georgia is NOT A state with good IRA protection

“IRA protection: Only amount necessary for support (Ga. Code Ann. §§ 18-4-22, 44-13-100)”

https://www.amazon.com/White-Investors- ... 318&sr=8-5

[ResearchMed]

It would be easier for you to tell us the one state you live in rather than someone here listing the rules for the 49 states you do not live in.

I posted the state the retiree lives in, since that is what seems relevant to the discussion. Why will it matter where I live?

[emphasis added]


We are all trying to be helpful. That's the point, and value, of Bogleheads!
Kindly read the next part of this post in that context.

It is not always easy to keep track, for every thread we each follow, whether it's for the OP personally or for "someone else who may live elsewhere". Obviously (I hope) what matters is where the "affected person lives".

So help us to help you, and remind us of the state of residence.
*You* know what you typed in the long stream above, but many of us may not quite remember. I just tried to scan quickly to pick up the relevant "state of residence"... and I'm not going to read every post that carefully... again.

Please spend your efforts answering the question, in this case, about the *relevant* state of residence, rather than getting into whether your own matters. What obviously "matters" is:
Which state is involved?

That is, it would have been so easy for you, in the post I just quoted above, to mention *again* the state "the retiree lives in", rather than (or even in addition to) asking/bickering about the relevance of your "own" state.

It was my post that triggered some of these questions, but even I have not followed the entire thread closely enough to continue to remember these details, and I am not the only one who isn't going to take the time to search through all of the post to date to "find out" which state is relevant.

RM

[pizzy]

It would be easier for you to tell us the one state you live in rather than someone here listing the rules for the 49 states you do not live in.

I posted the state the retiree lives in, since that is what seems relevant to the discussion. Why will it matter where I live?

[emphasis added]


We are all trying to be helpful. That's the point, and value, of Bogleheads!
Kindly read the next part of this post in that context.

It is not always easy to keep track, for every thread we each follow, whether it's for the OP personally or for "someone else who may live elsewhere". Obviously (I hope) what matters is where the "affected person lives".

So help us to help you, and remind us of the state of residence.
*You* know what you typed in the long stream above, but many of us may not quite remember. I just tried to scan quickly to pick up the relevant "state of residence"... and I'm not going to read every post that carefully... again.

Please spend your efforts answering the question, in this case, about the *relevant* state of residence, rather than getting into whether your own matters. What obviously "matters" is:
Which state is involved?

That is, it would have been so easy for you, in the post I just quoted above, to mention *again* the state "the retiree lives in", rather than (or even in addition to) asking/bickering about the relevance of your "own" state.

It was my post that triggered some of these questions, but even I have not followed the entire thread closely enough to continue to remember these details, and I am not the only one who isn't going to take the time to search through all of the post to date to "find out" which state is relevant.

RM

Georgia