# Series 7 Exam Prep 12, Retirement Accounts and ERISA Basics

Page: https://stenobird.com/podcast/open-exam-prep-7140559/series-7-exam-prep-12-retirement-accounts-and-erisa-basics
Text version: https://stenobird.com/podcast/open-exam-prep-7140559/series-7-exam-prep-12-retirement-accounts-and-erisa-basics.md
Podcast: [Open Exam Prep](https://stenobird.com/podcast/open-exam-prep-7140559)
Published: 2026-06-19T01:01:53+00:00
Episode link: https://open-exam-prep.captivate.fm/episode/series-7-exam-prep-12-retirement-accounts-and-erisa-basics
Audio file: https://episodes.captivate.fm/episode/ad8429af-9f79-483a-b32a-c8c74e2dc4f9.mp3
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Duration seconds: 224

## Resource

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The critical tax differences between Traditional IRAs (pre-tax, taxed later) and Roth IRAs (post-tax, tax-free later) and how it impacts suitability. - The distinction between a defined benefit plan, where the employer bears the investment risk, and a defined contribution plan, where the employee bears the risk. - The rules for moving retirement funds, including the 60-day rollover rule versus a direct trustee-to-trustee transfer. - Key exceptions to the 10% early withdrawal penalty, such as death, disability, and first-time home purchases. - The fundamental fiduciary responsibilities imposed by ERISA on qualified retirement plans, including the prudent person rule. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

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## Transcript

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