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1、外文文献翻译译文一、 外文原文原文：原文：Protecting your retirement during a job transitionAuthors: Fey, W. DavidIf you are going through a job transition particularly if the transition is unplanned and unexpected it might be tempting to focus on your immediate needs but you should not lose sight of long-term goals, es
2、pecially your retirement strategy.Your employer-sponsored retirement plan is likely a key component of your retirement strategy. During a job transition, you will usually have three options: take a lump sum distribution, leave your assets in the employer-sponsored plan or move your assets into a rol
3、lover IRA.Taking a direct, lump sum distribution provides you provides you with immediate access to your money. Depending on your short-term needs, that may appear to be an attractive alternative but it will likely result in substantial federal and state income taxes and a 10 percent penalty tax to
4、the IRS.which can significantly reduce the amount of the distribution. Because you receive the distribution directly, the plan administrator must withhold up to 20 percent of the value of the distribution for federal income tax purposes. Moreover, you will lose the beneit of the tax-deferred status
5、of these assets, which could reduce the amount ultimately available to you at retirement.Deciding to do nothing and leaving your assets in your former employers plan will protect the tax-deferred status of your assets and allow you to transfer the account assets at a later time to a new employers re
6、tirement plan that accepts rollovers. But you may be limiting your investment choices and control because employer plans typically have a restricted investment menu. Establishing a rollover IRA simultaneously addresses the issues of taxation, l edibility and control, and may hold significant benefit
7、s for you as a result:If your distribution is transferred directly to a custodian, rather than to you, the rollover IRA eliminates the withholding requirement and penalties that may result from a lump sum distribution.the entire rollover amount can be invested immediately, according to the strategy
8、you specify.Your assets and any earnings continue to have the potential to grow tax-deferred until you retire and begin taking withdrawals.You may gain access to a wider range of investment options and more retirement planning and distribution flexibility.For example, investment products in an emplo
9、yer plan are usually limited to mutual funds and company stock. With a self-directed rollover IRA, you can work with your financial professional to structure a portfolio using stocks, bonds, annuities and other investments utilizing an asset allocation that is customized to help you meet your retire
10、ment investment objectives. And your retirement strategy can be further tailored with a wider range of beneficiary selection and distribution choices.A job transition may also be a good time to deal with multiple IRAs you may have opened over the years with account balances you may have left in the
11、plans of former employers. Together, these assets may represent a significant sum. there are good reasons to consider consolidating them all in a rollover IRA:You can maintain a comprehensive investment strategy that accurately reflects your goals, timing and risk tolerance rather than having them s
12、pread among multiple institutions. When you consolidate, your professional can help you ensure the assets are part of your overall asset allocation strategy.A self-directed IRA generally of you the ability to choose from a wide range of investment products, including stocks, bonds, mutual funds and
13、annuities. It is easier to monitor your progress and investment results when all your retirement savings are in one place, because you will receive one statement. Reducing the number of accounts may also reduce your account fees and other investment-related charges. Dealing with one account rather t
14、han several also simulate the distribution process including complying with complex minimum distribution rules when you reach age 701/2. And you avoid the risk of losing track of your retirement accounts or access to the account assets should your former employer merge with another company or go out
15、 of business. Your financial professional can help you assess your alternatives so you can make decisions based on whats best for you. You may that this time of transition holds benefits for your retirement assets.That opens up an opportunity for the retirement industry to influence the outcome by d
16、emonstrating how guaranteed lifetime benefits can fill an essential role within retirement plans.This is being spurred along by the Obama administrations recently announced retirement plan initiatives for 2010, calling for lifetime income guarantees in 401(k) plans. While the retail annuity space has had much success with guaranteed living benefits, the defined contribution market is still in the early stages of testing what innovations would have the greatest appeal to plan participan
