Industry, Investor News

Aug 18 2023

Required Minimum Distribution (RMD) Rules After SECURE 2.0

Retirement plan accounts (other than Roth accounts, that is) are tax deferred, but not forever. At a certain age, every retirement plan owner or participant must begin to receive annual taxable distributions. The amount of ...
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Aug 4 2023

SECURE 2.0 Offers a Powerful Retirement Income Planning Opportunity

In this article, the authors examine a little-known provision in the recently enacted SECURE 2.0 retirement legislation concerning the required minimum distribution rules and explain how it can help taxpayers. The federal tax regulations implementing ...
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Jul 21 2023

IRS Gives Extra Time to Fix RMDs Made Erroneously Under SECURE 2.0

The Internal Revenue Service and the Department of the Treasury have issued a notice that provides leniency regarding mistaken required minimum distribution payouts from retirement plans under new SECURE 2.0 Act of 2022 rules and ...
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Feb 10 2023

Tax and Retirement Consequences of Biden’s 2023 Budget Proposal

As part of the Biden administration's fiscal year 2023 budget proposal, aka the Green Book, for the Treasury Department, Janet Yellen testified before the Senate Finance Committee and the House Ways and Means Committee in early June ...
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Oct 7 2022

IRS Provides RMD Relief for 2021 and 2022, as Requested by RITA

We have good news for our industry! RITA's Washington, DC legal team has been successful in appealing to the IRS to extend the RMD regulation deadlines. One of the issues that RITA identified in its ...
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Sep 27 2022

IRS Provides Addition Extension of Amendment Deadlines

As discussed below, in August, through Notice 2022-33, the Internal Revenue Service (IRS) announced extended plan and IRA amendment deadlines for: (1) The SECURE Act; (2) Section 104 of the Miners Act (lowering the in-service ...
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retirement changes

Jan 5 2022

Changes In The Retirement Industry in 2022

The economy is in rapid recovery from the pandemic, which caused a downward spiral in economic output for 2020 and 2021. The pandemic also increased inflation rates to heights our nation has not seen in ...
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Jul 19 2021

401k Assets Totaled $6.9 Trillion in First Quarter

Retirement account balances continued their post-pandemic recovery in the first quarter, up 1.8% from December, and totaled $35.4 trillion. Retirement assets accounted for 32% of all household financial assets in the United States, according to the Investment Company Institute. ...
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retirement security

Aug 7 2020

Retirement Security: Ensuring Today’s Workers are Secure in Their Future

The nation’s retirement system is constantly changing. Often, not for the better. There are fundamental changes that have made it especially hard for Americans to retire. Social Security is not what it used to be, ...
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Jan 24 2020

Cybersecurity Tips for Retiremement Plan Custodians & Advisors

One of the most important aspects of overseeing retirement accounts is to ensure that all funds and private information are protected. Your clients work hard for their money, and they put a lot of care ...
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