MEGAMANIA asked:


I’m employed with the local public school system. I began working for them eight years ago. Through my employment, I have been having an amount deducted from my check to be placed in a retirement account through the school system. The system has been adding funds to it as well, but what I am concerned about is the part I have been contributing.

I have decided to leave my job and stay home with my kids full-time. Since my retirement account is not a 401K, it can’t be “rolled over”. So, I am assuming the school system will have to return my retirement contributions to me, minus what they have contributed and local taxes. Am I correct? If so, will this amount automatically be federally taxed, or will I have to report it on my next tax return?

I’m so confused! I don’t want to call my employer to ask these questions if I can help it, because I don’t want it to sound like I’m more concerned about my money than all they have done for me over the past few years.

HAYNES

small_business_CEO asked:


I’m a small business owner (4 full time employees) who does not offer any retirement plan or have one for myself. My employees are commission based only. What would be the best retirement plan for me and for all of us, individually? Thanks!

OTERO