Articles by George Karl

What is a SIMPLE IRA Account Simple IRA meaning A SIMPLE IRA (Savings Incentive Match Plan for Employees) is a workplace retirement plan for small […]

What does HDHP mean in Health Insurance HDHP (High Deductible Health Plan) is a health policy that features low premiums and a high deductible when […]

What is the HSA plan Health savings accounts (HSAs) are tax-deferred savings account that helps contributors save and invest for future qualified medical expenses that […]

Thrift Savings Plan explained A thrift savings plan TSP is a tax-deferred plan available to federal and uniformed services workers which includes the Ready Reserve. […]

How do Catch up contributions work Catch up contributions eligibility  Aged 50 or older You are eligible to contribute catchups to your plan on turning […]

Retirement Plan 457b A 457b is a state or local government-sponsored(and any entity that is tax-exempt under IRC Section 501), non-qualified, tax-deferred retirement savings plan. […]

What is 72t 72t Rule is an IRS rule that allows retirement savers access to retirement accounts before the golden age of 59½ without incurring […]

Rule of 55 IRS Rule of 55 is an IRS regulation that allows individuals aged 55 or older to withdraw funds from old plans like […]

 A 403b plan is a retirement account available to individuals working for non-profit organizations, certain government entities, certain 501(c) (3) organizations (tax-exempt), and ministers.

How does 401k loans work 401k contributors are allowed to access some of their savings in form of 401k loans. Most 401k plans allow retirement […]