The color scheme was created by TV. journalist Tim Russert on the Today Show, and NBC program, during coverage of the 2000 presidential election. The red color is associated â¦ with the Republican Party and the blue color is associated with the Democratic Party. Another NBC journalist John Chancellor used the system as well in 1976, but his color scheme was reversed. People needed to differentiate between the two parties on big T.V. maps so it just stuck.
If you want to move your IRA, you have two options. The first is a rollover and the second is a transfer. The difference between the two is whether you take receipt of the money in the IRA. In a rollover, you cash out your IRA and have up to 60 days to put it into a new one or you pay penalties and taxes.
As you probably know, transferring money out of an IRA is a taxable event, and if you are below the age of 59 1/2, there would likely be an additional penalty as well. So, whenever you move money from one IRA account to another, caution must be taken to make sure it doesn't appear to be a distribution.owever, you can transfer from one traditional IRA to another without a taxable event or penalty. This type of transfer is known as a trustee-to-trustee IRA transfer. It means that the money is going from one IRA trustee to another, and thus is not being distributed outside the IRA.