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Retirement planning/tax question...

I am reviewing my life insurance and retirement planning situation, and am doing some calculations to evaluate different scenarios about my life expectancy and how it would affect my family's quality of life down the road. I have a question about the payout of my employer-sponsored retirement plan funds upon my death. I have a Vanguard Simple IRA through my employer - if I die before retirement/any distributions, what happens to the money? Can it be rolled over into another qualified plan by the beneficiary (my spouse)? Or does it just get immediately paid in a lump sum, with taxes taken out for early withdrawal? Or can it simply remain in the account until my spouse reaches retirement age?

TIA

Posted: 03/10/2018 at 7:04PM

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Current Thread:

Retirement planning/tax question... -- MP4VT2004 03/10/2018 7:04PM

Spouse can transfer into her IRA. She needs professional advice to -- VaAkita 03/10/2018 10:00PM

Thank you! ** -- MP4VT2004 03/10/2018 10:05PM

Spouses are treated special. Make sure you have contingent beneficiaries -- VaAkita 03/10/2018 10:12PM

Good advice...I need to make sure the little one is listed. -- MP4VT2004 03/10/2018 10:14PM

Depends on how old you are when you die. -- CPRVHokie 03/10/2018 7:09PM

Starts with how young you are when your born. ** -- MikeVT85 03/10/2018 10:41PM

Usually the last place you look ** -- CPRVHokie 03/10/2018 10:51PM

All's well that ends well. ** -- MikeVT85 03/10/2018 11:03PM

At 70.5, can i withdraw,and still put in something else tax deferred? -- TomTurkey 03/10/2018 8:06PM

Nope. ** -- CPRVHokie 03/10/2018 9:33PM

I think if I make it to 70.5, I'll take whatever is left to the... -- JoesterVT 03/10/2018 8:21PM

Elizabeth Shue shun. ** -- CPRVHokie 03/10/2018 9:35PM

Well here it is, but I've seen more attractive at the Mall... -- UTPr0sim 03/10/2018 9:39PM

No you havent ** -- CPRVHokie 03/10/2018 9:41PM

Well not me personally, but a guy I know... -- MP4VT2004 03/10/2018 10:03PM

That's a plan ** -- TomTurkey 03/10/2018 8:59PM

10-4, thanks! ** -- MP4VT2004 03/10/2018 7:22PM