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Account owner with dob of 2/21/1920 dies in 2011, with spouse as beneficiary. Spouse does NOT roll into her own...

Taxpayer deposited $20,000 into New York State and Local Retirement System to purchase credits in 2013. The funds came from...

The IRA rules are very complicated. The RMD (required minimum distribution) rules are very complicated. Annuity rules are very complicated. Put them all together and what do you get? Usually, just a mess of chaos and confusion. Today, we look at what happens to RMDs when you annuitize your IRA annuity over your lifetime or over a joint lifetime (your lifetime, plus the lifetime of another person). The answer provided below is excerpted from our soon-to-be-released must-have resource, The Definitive Guide to Required Minimum Distributions for Baby Boomers.

This week's Slott Report Mailbag dives into details on SIMPLE IRAs and SEP IRAs, explains the legality of having a 401(k) versus a Roth 401(k) and walks the questioner through the options an estate has as an IRA beneficiary. As always, we stress the importance of working with a competent, educated financial advisor to keep your retirement nest egg safe and secure.

Hi there, I recharacterized $4,490 in contributions from my Roth to my Traditional this year, but due to losses, I...

I started contributing to a Roth 401k two years ago.(when first available) after 24 years of pre-tax contributions. I plan...

In recent weeks, the Social Security Administration has released a flurry of information, including several “Emergency Messages,” aimed at clarifying some of the changes to the Social Security rules made by the Bipartisan Budget Act of 2015. The guidance addressed a number of critical, previously unanswered questions, and is poised to impact many of those in or approaching retirement. Here is a list of the key updates, followed by a more comprehensive explanation of the guidance.

I have a client (DOB 7/23/1961) who was the beneficiary of her spouse’s IRA (spouse DOB 10/16/1945). The date of...

What is the RBD? RBD stands for required beginning date. It is the date by which an IRA owner must take their first required minimum distribution (RMD) in order to avoid a 50% penalty. Generally, an individual must take their first distribution from a retirement account in the year they turn age 70 ½. The following points clarify exactly when you must take your first distribution.

I attempted a QCD on 4/2/15 (hoping they would again be legal). I soon learned that it could not be...