DETAILS: THE PLAN TO STEAL YOUR 401(k)

www.RushLimbaugh.com ^ | November 29, 2012 | Rush Limbaugh

[MrB]

My balls... they got ‘em...

I’m not 55.

You can take out your IRA money, pay them penalty and the tax, but the 401k (current employer), well, you’re stuck.

[Yosemitest]

That's a good plan, and be sure to read comment #58.

[Bloody Sam Roberts]

So someone making $100,000 will have $5,000 withheld. Then she says the Feds will give that person $600 toward the account.

The way I read it...it is a slightly better than 1 to 5 match. the 5k withholding is matched up to about 10%. Pretty bad compared to current 401k matches...at least for my company.

But, you can bet it will be a lot more complicated and it will all be explained in a 4000 page document that is currently being written. Probably by Van Jones.

[sport]

Understood. But remember if you go to or rent a movie, you help an obama supporter. Buy a newspaper, same thing. eat at certain restaurants,i don’t recall which ones but someone periodically posts them on here, i believe that Arby’s is one, I stopped going there.Anbyone or any organization that I suspect that is connected to obama I stay away from.

[Bloody Sam Roberts]

72t Ping.

[Yosemitest]

Did you read this?

By using IRS’s rule 72(t) it ELIMINATES the 10% early withdrawal penalty normally due for withdrawals prior to age 59/12.

First you quit working.
Then you ROLL your 401k into an IRA. After the rollover is completed you apply for a 72(t) “equally substantial distribution”.
The IRS will offer you (3) optional payout amounts.
The (3) IRS optional payout methods will tell you how much the “equally substantial distribution” will be
based on your age,
the age of your beneficiary,
the amount of money you have,
the % rate used for the calculation
and how long they expect you to live (based on IRS's mortality table).

There's more so read on...

[Darnright]

>The RATs will have the House back in 2014, thanks to Boehner’s sellout.<

Anyone who votes to allow Democrat possession of the House, who pretends to be “conservative”, needs to be run out of his or her district on a splinter-laden rail.

The Stupid Party, indeed.

[Yosemitest]

So start asking businesses, before you shop or eat, did you vote for Obama, or any Democrat?
If they answer yes, then walk out and don't come back, and tell them, "I won't return, ever! "

[sport]

I don’t have a problem with it. Back in 2009 I got a call from the Chevrolet dealer that I bought a truck from in 2007 that they needed me to bring the truck in to them. I did and a salesman walked up to me and said, “How do you like your truck and would you be interested in trading for a new one?” My response was, “ I liked it pretty good until obama stole General Motors and if I got another one it would be the same as dealing in stolen property to me.” we doth turned around and I haven’t thought about returning since. I even called the bnk and asked them if they wanted it back, told them that I was willing to lose what I had in it if they would take it back. They said no.

[NTHockey]

Why worry about votes when fraud is so much easier, considering that the Whigs never complain.

[SueRae]

Thank you!! I also have a call to make an appointment with my accountant. I’ll be getting laid off next month (end of the month) and I’m 57. I knew there were ways to do it..I just have to work the details. (note - I actually volunteered, it was going to come anyway...after 31+ years in the same company, I’m ready)

Good luck to you.

[meyer]

I don’t have that many bullets.

You will not be alone, believe me. Collectively, there's plenty of resources.

[Yosemitest]

Here's to your retirement.
But be warned in advance.
My aging parents have passed the mid seventies, and health insurance is increasing every 6 months in cost, along with their medication cost.
They have just enough land to keep them from qualifying for government assistance with their cost in medicine.
So they keep reducing the level of medical insurance they can afford, in order to control the cost of their med.
Dad's three month costs for the supplement is now $800, and mother's is just under $500 for 3 month.
They've worked all of their lives, and Obama is stealing their medical coverage by destroying Medicare and Social Security.
May God reward Obama according to Obama's and the Democrats' works, and may God do it quickly !

[meyer]

I guess that the big question I would have concerning the 72T is whether or not I would be able to work after retiring and still collect from my IRA. In other words, is there allowable income or an income limit before one might be ineligable for this distribution?

[Yosemitest]

I believe this move by the government swill kill the 401Ks and IRAs.
The smart move will be to keep your money under your own control.
The thought of "allowable income" or "income limit" shouldn't have anything to do with your 72T, because IT'S YOUR MONEY !

[meyer]

The problem is, if I don’t have enough to live on, so I’d have to work along with collecting for a few years, until the pensions kick in. Being able to work part-time while collecting would be advantagous. I realize that there are ways of staying under the radar somewhat.

[Yosemitest]

You better talk to a CPA.

[meyer]

Thanks. Yeah, it could be complicated. Like most people’s situation. Appreciate the information. I will talk to a CPA soon.

[Yosemitest]

Here's some more information, but it may not apply to you.
Read with caution.

IRS, IRA - When Can You Withdraw or Use Assets?

IRS Pamphlet, Traditional IRAs

[AlligatorEyes]

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