E.R.A. Retirement Account?

Question

At my previous employment with the local school district, I contributed to an E.R.A retirement account. I have since been terminated and would like to rollover my contributions into an IRA. How can I do that? Not sure what E.R.A stands for? Educational Retirement Association, maybe?

Answer 1

Contact the human resources person at your former job. The should be able to send you information on who to contact at your retirement plan to set up a rollover.

Answer 2

Not sure what an ERA is, but get the details of it - name of the company managing the account, account number, approximate balance, etc - and go to your IRA manager. Tell them or write them a letter saying you want this rolled over into the IRA. Be sure you tell them that you want this done so that IT DOES NOT CREATE A TAXABLE EVENT. Ask the IRA manager specifically about this. If the ERA account makes out a check to you, and sends it to you, you may be liable to pay income tax on that money, even if you don't cash the check, but deposit it directly in the IRA.

I am not an accountant, so don't take this recommendation as advice from a qualified financial advisor. I only know that I had to do a rollover like this, and I could have potentially had to pay tax on the amount transferred if I didn't handle it correctly. You should investigate this and make sure that you don't get socked with the tax also.

Answer 3

i think you're unfamiliar with Bush's events whilst he grow to be governor of Texas? Yeah, it extremely is precise. George W. Bush raided the instructor's retirement fund to place in writing exams for super Oil in Texas (in the kind of tax incentives and distinctive organisation subsidies). thank you george ********* and much extra those days, Bush raided pension money whilst he grow to be "president" --- --->Bush plans pension raid to stay afloat via Edmund Andrews Washington October sixteen, 2004 under an afternoon after President George Bush implied that his Democratic challenger John Kerry lacked "financial sanity", the administration stated it had hit the debt ceiling set via Congress and might ought to borrow money set aside for federal workers' pensions until after the election." <----- you recognize... you men ought to truly do slightly study until now you attempt to rattling Obama. it consistently looks to return returned and chew you in the you-recognize-what.