“Cypress Glen earns kudos in providing every amenity desired by


prospective and current


residents. Our 67 military veterans are a close-knit, active group who


appreciate the proximity to four major military installations and a state-of-the-art regional medical center.”


Dr. Jerry Hopfengardner Resident & Military Liaison


Independent Living Apartments & Cottages


Alzheimer’s Care | Assisted Living | Skilled Nursing Also available on-site:


www.CypressGlen.org (252) 830-7067 (800) 669-2835


100 Hickory St. ( Near ECU) | Greenville, NC 27858


Required Minimum Distribution (RMD) The Roth IRA has no RMD. Every other retirement account has an RMD obligation at age 70½. If you have a Roth 401(k)/TSP, you can manage around the RMD by transferring the Roth 401k/TSP to a Roth IRA prior to age 70½ and thereby eliminating the RMD requirement.


Wealth-building potential With a 401(k)/TSP, you can have up to $18,000/$24,000 compound- ing each year, versus $5,500/$6,500 compounding each year in an IRA. Roth IRA contributions can be re-


stricted to less than $5,500/$6,500 because of the income restrictions noted above. The greater tax advan- tage of 401(k)/TSP accounts also helps create wealth over time.


ARE YOU MOVING? New Address


City New phone PASTE


MILITARY OFFICER MAGAZINE MAILING LABEL HERE


76 MILITARY OFFICER MARCH 2016 State Eff. date


Please notify us of your new address 6-8 weeks in advance.


MAIL TO: MOAA, Attn: MSC, 201 N. Washington St., Alexandria, VA 22314-2539 ZIP


Insurance annuities An annuity is an insurance financial product that combines investments/ savings, insurance protections, and tax advantages in one product. (For purposes of this article, I describe the deferred, variable annuity.) Annuities can be considered a


third-tier retirement account: first the 401(k)/TSP, next the IRA, and third annuities. This is because of their tax- deferred status, and because you must wait until you turn 59½ to withdraw from them without tax penalties.


PHOTO: SHUTTERSTOCK


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