LASSUS AS "BIZ BRAIN" IN THE STAR LEDGER (401K-WHEN EMPLOYER GOING OUT OF BUSINESS)
Diahann W. Lassus, CPA, CFP™ practitioner, and President of Lassus Wherley & Associates, P.C. was quoted in the “TAX The BIZ BRAIN” column of the Star Ledger on June 30th. The question asked was regarding an individual’s 401K plan when the employer was going out of business. Ms Lassus discussed the alternatives available to individuals in handling their 401(k) in this type of situation. The options discussed included transferring to another company’s 401(k), transferring to an IRA, or distributing the dollars. She also included a discussion concerning approved “custodians” including banks, traditional brokerage firms, discount brokerage firms, insurance companies or mutual fund companies.
Lassus Wherley & Associates is a wealth management firm with offices in New Providence, New Jersey and Naples, Florida, providing fee-only comprehensive financial services, including financial planning, investment management, tax, trust and family office services. The Lassus Wherley web site is www.lassuswherley.com.