2015 has brought several important changes in the retirement planning world. From the once-per-year IRA rollover rule to QLACs and myRAs, IRA Technical Expert Beverly DeVeny highlights the key changes you must be aware of to retain current clients and capture new business in the new year.
As we approach the end of 2014, we have been telling you about all of the things that you need to do with your retirement accounts before year-end. As if you weren’t busy enough at this time of the year, there are many things that must be done by December 31, 2014 to avoid problems and potential IRS penalties. Setting up a SEP IRA is not one of them.
Yesterday, the IRS released IRS Announcement 2014-32, providing updated guidance on the once-per-year IRA rollover rule.
This guidance is extremely important and impacts anyone with more than one IRA and Roth IRA... combined!
This week's Slott Report Mailbag examines how to title beneficiary IRA trusts and answers questions on moving non-IRA assets to inherited IRAs and accessing 403(b) funds and moving them to different accounts while still working.
There are three life expectancy tables used by IRA and employer plan account owners and beneficiaries. These tables were last updated by IRS for optional use in 2002 and were mandatory in 2003. You cannot choose which table you would like to use. Each one must be used in certain situations. Click to learn more about each table.
This past Monday, our nation celebrated Memorial Day, a day dedicated to honoring the brave men and women who have lost their lives while serving in our Armed Forces. While no financial benefit can ever console or adequately compensate the families of those who have made the ultimate sacrifice, when a member of the Armed Forces dies, his or her loved ones are often the beneficiaries of a Service member’s Group Life Insurance (SGLI) policy. Click for more details about this policy and how it affects the families of those who served their country.
If you own a business and currently don’t have a company retirement plan, consider opening a SEP (Simplified Employee Pension) for 2013 (that's not a misprint in dates). A SEP is a relatively uncomplicated employer retirement plan that uses an IRA as its funding vehicle. Click to find out why business owners should consider a SEP IRA for 2013.
It's never too late (or early) to get started on your 2014 retirement planning. There are certain building blocks that Ed Slott, America's IRA Expert, believes are the foundational keys to a successful long-term retirement plan. He goes through them in considerable detail in the IRAtv video below (click here to watch in browser), and here's a quick-hitting list of the key building blocks.
Interesting things are happening in the courts with regard to retirement plans, specifically 60-day IRA rollovers and inherited IRAs in bankruptcy. Click for an update on what's happening.
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