Contact Person:
	Charlotte F. Crawford, CFP
	Extension Educator, Consumer and Family Economics
	University of Illinois Extension, Mt. Vernon Center
	4112 N Water Tower Place
	Mt. Vernon, IL 62864
	618.242.9310 Phone
	618.242.9433 Fax
	crawford@mail.aces.uiuc.edu

Presenters:
Charlotte Crawford                 Karen Chan
Mt. Vernon, Illinois                Chicago, Illinois

Description:
When and how to take retirement savings out of tax-deferred plans is as important as putting money in! For IRAs or 403(b) plans, age at distribution will affect tax treatment. Learn about annuitizing, beneficiary choices and types of distribution.

Conference Objective:
Identify ways to prepare for and enjoy a fulfilling retirement.

Abstract:
Planning and saving is the key to a prosperous retirement, but knowing when and how to tap those tax-deferred savings is equally as important. This session by certified financial planners gives you pointers on the rules for taking your money out so you and your heirs will get the most from your savings. How you withdraw the money requires careful decision making.

If you are enrolled in a 403(b) plan or have an IRA or 401(k), then the federal rules for withdrawing your retirement money apply. Your age at the time of distribution is very important with age 59 ½ and 70 ½ being important to plan around. Types of distributions are important whether a lump sum or annual distributions. This year, 1999 is the last year taxpayers are able to use the five-year forward averaging technique to save money on lump sum distributions. Annuitized payments is a concept that is important to understand and especially how it differs from the insurance product annuity.

For many Extension workers, integration of retirement plans with Social Security will affect their retirement income. Learn how it might affect your retirement income.

Distributions at death is a complicated topic. Participants will find this information helpful to their future decision making. Do you choose a term certain to withdraw money, do you recalculate your withdrawals every year or a combination of these choices? And of course, mixed in with this decision is your choice of beneficiary. The wrong choice could greatly affect your retirement income. A wise choice can also help fund your children's retirement if you don't use all of your tax-deferred money in your lifetime. Hard choices, yes. But, thinking about it now and planning well will pay dividends for you, your spouse and other family members.

The presenters, Extension Educators Charlotte Crawford and Karen Chan have team taught this session to over 100 Extension employees and retirees and over 150 middle age and older adults. Evaluation of the program always indicate participants gain valuable information to help them make better informed decisions with their retirement monies. Come learn how to make the most of your hard-earned dollars so you or your heirs benefit. Knowing the rules and your options will help you have a financially secure retirement.