Delta Airline pilots looking to invest their defined contribution retirement monies into nontraditional investments, such as real estate looking to self-directed IRA
IRA Financial Group, the leading provider of self-directed IRA LLC “checkbook control” structures has seen a growing number of Delta Airline pilots looking to invest their defined contribution funds in a self-directed IRA LLC. In light of Delta Airlines decision to end their defined contribution plan as of December 31, 2013, Delta Airline pilots that have participated in the defined contribution plan have until June 13, 2014 to notify Delta Airlines whether the funds will be rolled into another Delta 401(k) retirement plan or whether the funds will be rolled into an IRA, such as a self-directed IRA. “Over the last several weeks, we have helped numerous Delta Airline pilots establish self-directed IRA LLC solutions to make real estate and other investments with their retirement funds,“ stated Adam Bergman, a tax partner with the IRA Financial Group.
The Plan Sponsor (AFA) has provided Delta Airline pilots with three general options:
(1) rollover existing retirement funds into a qualified IRA;
(2) rollover retirement funds into the Plan Sponsor’s existing 401(k) plan qualified plan or
(3) receive a taxable lump sum distribution.
IRA Financial Group’s self directed IRA LLC offers Delta Airline pilots the ability to use his or her retirement funds to make almost any type of investment on their own without requiring the consent of any custodian or person, including real estate. The IRS only describes the type of investments that are prohibited, which are very few.
IRA Financial Group’s Self-Directed IRA LLC also called a real estate IRA with checkbook control, is an IRS approved structure that allows one to use their retirement funds to make real estate and other investments tax-free and without custodian consent. The Self-Directed IRA involves the establishment of a limited liability company (“LLC”) that is owned by the IRA (care of the IRA custodian) and managed by the IRA holder or any third-party. As manager of the IRA LLC, the IRA owner will have control over the IRA assets to make the investments he or she wants and understand – not just investments forced upon you by Wall Street.
“With IRA Financial Group’s self-directed IRA LLC solution, investors can make real estate and other investments and generate income and gains while deferring taxes,” stated Mr. Bergman. “ One major advantage of using a Self-Directed IRA to make investments is that all income and generated by the investment is generally tax-deferred until a distribution is taken (traditional IRA distributions are not required until the IRA owner turns 70 1/2). In the case of a Self-Directed Roth IRA LLC, all gains are tax-free.
“Delta Airline pilots are using the termination of their defined contribution plan as a way to better diversify their retirement portfolio through the use of a self-directed IRA,“ stated Mr. Bergman.
The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP. With our work experience at some of the largest law firms in the country, our attorneys legal and tax knowledge in this area is unmatched.
IRA Financial Group is the market’s leading provider of “checkbook control” Self Directed IRA LLC solutions. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.