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My client’s husband passed away 12 years ago. The custodian that was in play when her husband was alive changed...

If you inherit an IRA, especially if it is a larger one, you may be afraid of being stuck with the five-year distribution rule. If this rule applies, your IRA must be entirely emptied in five years, which can be a serious tax hit. Under the tax rules, if you are named as the beneficiary on the IRA beneficiary designation form, you will not be subject to the five-year rule. Instead, you will most likely be looking at a 10-year payout under the SECURE Act. If you qualify as an eligible designated beneficiary, you can even still stretch payments from the inherited IRA over your life expectancy.

A client delayed their 401k RMD by still working and retired at age 73 mid-year. Their first RMD is required...

Those of you who participate in 401(k) plans or certain 403(b) plans should see something new on your next quarterly statement for the period ending June 30, 2022. For the first time, the statements must include illustrations of the monthly payments you would receive if your current plan account balance was used to purchase an annuity. This new requirement is part of the SECURE Act passed by Congress in December 2019. Congress intended that employees will see the illustrations and realize that their lump sum account balance may not produce high enough monthly income to last their lifetime. This, in turn, will persuade workers to increase their retirement plan savings rate.

Question: Good Day, I have a client (age 65) who inherited a traditional IRA from her mother in 2020. I know that she must empty the account by 12/31/30. She is not an eligible designated beneficiary (EDB). I’m trying to calculate the 2022 RMD

I dissolved my 401k with a LSD. Lets say I had 100k in stk with a cost basis of 10k,...

Hello. After doing an IRA to IRA rollover, can the new IRA account be immediately converted to a Roth IRA...

Dear Sir/Madam, I have a client who recently rolled money from his Simple IRA into his new 401(k) plan, effectively...

Together, the two financial education leaders provide an industry-first program that includes the latest information on the IRS's new RMD rules

You can have too much of a good thing. While saving for retirement with an IRA is a good strategy, there are limits. When a contribution is not permitted in an IRA, it is an excess contribution and needs to be fixed. Here are 5 ways an excess IRA contribution can happen to you: