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The year is flying by, and before we know it 2025 will be here. With the arrival of the new year, several new provisions from the 2022 SECURE 2.0 law that impact retirement plans will become effective. One of the changes allows certain older participants in company savings plans and SIMPLE IRAs to make higher catch-up contributions.

Employer is sole employee for an established SimpleIRA. The account value is -0- zero after Roth conversions, distributions completed 04/2024....

Question:We have a client who has children from a previous marriage. Upon the husband’s death, he wants to make sure his current spouse has access to income from his IRA. But he also wants to make sure the remaining balance, when she passes, goes to his children from his first marriage and not to someone else, e.g., her children.

4 IRA beneficiaries and only 2 created separate accounts by 12/31 of the year after death.  For the separate accounts...

October 15, 2024 has come and gone. This was the deadline for correcting 2023 excess IRA contributions without penalty. If you missed this opportunity, you may be wondering what your next steps should be. All is not lost! While you may not have avoided the excess contribution penalty for this year, you can still correct the issue for future years.

I have balance in a old retirement savings plan (401k) dating back to 1998 and which I want to roll...

What are the tax implications of transferring stock from one trust to another? Are there any? A client received ownership...

By Andy Ives, CFP®, AIF®IRA Analyst We have written about the net unrealized appreciation (NUA) tax strategy many times. Generally,...

Hello, everyone! I’m currently adjusting my retirement portfolio and have some questions about numbers and dates. I’d appreciate any insights...

When someone loses their job (or retires) after age 55, but before reaching 59.5, I know they access to their...