YEAR-OF-DEATH RMD
Lifetime required minimum distributions (RMDs) start in the year when an IRA owner turns 72. Technically speaking, the “required beginning date” for RMDs is April 1 of the year after a person turns 72. Once RMDs start, you must withdraw annually on a calendar year basis. If you miss an [...]
STILL-WORKING EXCEPTION
Are you nearing retirement age and not looking forward to taking unwanted required minimum distributions (RMDs) from your retirement account? You may be looking for a strategy to delay those distributions. The “still-working exception” allows RMDs to be delayed. Will this exception help you? The still-working exception has some limits. [...]
ACCURACY-RELATED PENALTY
If a retirement account transaction becomes a taxable distribution, you probably know you will owe taxes and possibly the 10% early distribution penalty (if under age 59 ½) on the distribution. But what you may not know is there might be a surprise. On top of the additional taxes and [...]
4 RULES TO KNOW: PLAN ROLLOVER & RMD
Many Americans are still working long beyond what has traditionally been the retirement age. This may be a choice or a necessity. If this is your situation, you may be keeping funds in your employer plan well into your seventies and maybe even later. This may bring big benefits. You [...]
THE SECURE ACT:
Here’s What It Means For You
On December 20, 2019, a $1.4 trillion spending bill was signed into law in order to keep the government running. Tucked away inside this mammoth piece of legislation was the Setting Every Community Up for Retirement Enhancement (SECURE) Act. This law includes significant changes to retirement accounts. How will it affect you and your retirement savings?
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Pharmaceutical Benefit Planning
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