An American singer and actor best known for his role as Festus Haggen on the long-running television Western drama, Gunsmoke. Born in Lamar, CO (882). Jack Dempsey (1895 - 1983) Born William Harrison Dempsey. American professional boxer and world heavyweight champion from 1919-26.
A rollover is considered an entirely different action from a contribution. Thus, the amount of a rollover has no impact on the contribution limit for the year. If you roll $100,000 from a traditional IRA to a Roth in 2013, you can still contribute $5,500, or $6,500 if you are 50 or older, to the Roth.y contrast, you must stop putting money in a traditional IRA and start taking distributions from the account at age 70 1/2. Consequently, some taxpayers choose to roll traditional IRA or other retirement plan assets into a Roth IRA.
Therefore, if you want to convert your Keogh plan to an IRA, you can roll over all or part of your eligible Keogh plan into a traditional IRA, a Roth IRA or a Simplified Employee Pension plan. This includes a lump-sum distribution. Defined-benefit and defined-contribution Keogh plans are both rollover-eligible. Keogh plan is a qualified tax-deferred retirement plan targeted to the self-employed. Administrative fees are generally higher on Keogh plans than on individual retirement accounts, because Keoghs are more complex. Yet Keoghs typically allow higher contribution amounts.