Word: iras
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...once obscure tax strategy that makes the most of your 401(k) dollars is going mainstream. The move keys on an IRS provision that lets you take possession of company stock in your 401(k) plan instead of rolling it into a traditional IRA when you change jobs or retire. The resulting savings can be staggering, and thanks to the crush of corporations that juice employee retirement accounts with their own shares these days, more people than ever stand to benefit...
...provision is not new. But word has spread slowly, largely because companies avoid dispensing anything that approaches individual tax advice and there's nothing in it for the IRA industry. But financial planners I've spoken with endorse the strategy with such vigor that you have to worry about hype. This isn't a no-brainer. And the pitfalls include the risk that you'll wind up overly concentrated in one stock. You also have to pay a tax up front...
...Protestant Ulster Unionist Party agreed to drop their demand that the Irish Republican Army (IRA) begin disarming before they formed a government that includes Sinn Fein, the IRA's political wing. The IRA has appointed a representative to meet with a disarmament commission...
...compromises on both sides are significant. For years, the Ulster Unionist Party would not consider any alternative to exclusive Protestant rule of Northern Ireland, nor would the IRA relent in its violent pursuit of a united Ireland. Now, the Protestant political parties have accepted Sinn Fein representatives into the new cabinet, as well as closer cooperation between their new government and that of the Republic of Ireland. The Catholic political parties have accepted that a unified Ireland may never become a reality...
However, while off to a strong start, the peace process remains dangerously fragile. David Trimble, the Protestant leader of the new joint government, said he'll resign if the IRA does not begin disposing its weapons by Feb. 1. Many would follow his lead, ensuring the disintegration of the fledgling government. While the IRA has met a key term of the peace agreement by assigning a disarmament representative, it has made no promises to honor the February deadline...