IRA Rules

Archive for August, 2005

Question: What do people think about the current situation in the North of Ireland?

Personally I am an Irish Republican from Belfast. I personally have a number of friends who died at the hands of British Crown forces and Loyalist death squads and have many friends who served long spells in prison for their involvement in the war against British Imperialism. Now the guns are silent and in return for full access to the democtratic system and power sharing with the Unionist community in the North of Ireland the IRA have accepted that the North will remain under British juristiction and have recognised the Police Service of Northern Ireland (PSNI) as the legitimate upholders of law and order. I cant help feeling however that we have been let down by our politicians as what so many died for was an all Ireland Socialist Republic, not a reformed Northern Ireland still under British rule. Was what we have now worth the sacrifice that so many people paid?

Answer: It’s BS….England just can’t accept Ireland , all of it, ruling itself.

The Life and Death of an IRA Quartermaster (Part 1)

Question: Does the 60 day rule apply to Roth IRA contributions?

Roth IRA contributions can be withdrawn at any time with no penalties. I am aware of the 60 day (and only once per 12 months) rule, but does this rule apply only to earnings or to all funds that are withdrawn (contributions and earnings)? Can I rollover contributions past the 60 days and/or more than once every 12 months?

Answer: The 60 day limit applies to ALL rollovers, whether to a Roth or a traditional IRA.

Reeling in the Years 1993-1

Question: why can’t the interest on my husband’s IRA CD be used toward his RMD any longer–have the rules changed–he is?

72 years old and up until now has been using the interest to cover the RMD–now he was told he can’t do that anymore–isit the institution or the government? thanx

Answer: The mandatory distribution changes every year. The calculation is based on balance in the account and remaining years of life.

If it was determined that your husband would not exhaust the value of the IRA by the time he dies, they raise the distribution amount. Now, you have to dip into the principal in addition to any interest earned.

The govt regulates the distribution, the banks just follow the rules. It’s too bad the govt gets involved in how we manage our money, but that’s the way it is.

Consumer Alert about your life insurance policy! Featuring retirement expert Bill Smith!