Deadline for Retirees Taking Their First RMDs is April 1
The IRS rule applies to all traditional IRA owners and most participants in workplace retirement plans.
Tag: required minimum distributions (RMDs)
What to Know About the 10-Year Inherited IRA Rule
A tax specialist unpacks the end of the ‘stretch’ IRA brought in by SECURE 2.0.
IRS Reminds Retirees to Take RMDs Before Year-End
Those aged 73 and older must take their required minimum distribution from defined contribution plans and IRAs.
IRS Proposals Aim to Clarify SECURE 2.0 RMD Reforms
RMD age increases, annuities and excise tax corrections would be codified by the proposals.
IRS Finalizes 10-Year Rule
Annual required minimum distributions will be required for inherited retirement assets, come 2025, with some needing to be fully withdrawn...
IRS Extends Relief on Inherited IRA 10-Year Rule Enforcement
The IRS notice said 2024 will likely be the last year for the relief.
Fidelity 401(k) Millionaire Totals Rebound in Q4 2023
The total number of 401(k) accounts exceeding $1 million at Fidelity increased in last year’s final quarter.
Congress Publishes SECURE 2.0 Corrections Draft Legislation
The bill would correct errors related to catch-ups, RMDs and Starter Plans.
Congress Says It Will Fix at Least 4 Errors in SECURE 2.0
The errors include the startup credit, RMD, SIMPLE IRA plans and Roth catch-ups.
As SECURE 2.0 Changes Loom, Plan Sponsors Need Prep, Advice
SECURE 2.0 gives advisers ample opportunity to connect with plan sponsors to ensure they are ready for both mandatory and...
Will RMD Age Increases Cause ‘Abandoned’ Property Problems?
SECURE 2.0 increased the RMD age to 73 and will increase it again to 75 in 2033. Some states’ laws...
Age-Specific Changes Found in SECURE 2.0
SECURE increases the RMD age and expands the amount of catch-up contributions certain participants can make.
IRS Issues Update on Required Minimum Distribution Rule
The guidance clarifies that people who did not take RMDs in 2021 and 2022 will not be responsible for the...
IRS Life Expectancy Tables Updated for Retirees
The actuarial update is important for plan sponsor clients to note, but the effect to regular business is likely limited,...
Trends
New, Tighter Distribution Rules
Retirement plan advisers should revisit retirement planning for clients who count on the ‘stretch’ IRA provision for bequeathing their individual...
New RMD Rules Mean the End of an Era for IRAs
Advisers should revisit planning for those who were counting on the 'stretch‘ IRA.
Attorney Calls Proposed Changes to RMDs From 403(b)s ‘A Big Deal’
Proposed required minimum distribution changes would require a participant to take calculated amounts from each 403(b) contract he has.
PANC 2021: Tax Rates, RMDs and Retirement Income Planning
Just as retirement savers use investment diversification for accumulating assets, they need tax diversification for retirement income planning.
A Few Key Lessons to Learn From Wealth Managers
Guidance about investing and the accumulation of assets is only the beginning of genuine financial planning—a fact that has already been embraced by forward-thinking wealth managers.
Unintended Tax Consequences Arise When the RMD Date Shifts
The concept of extending the age at which one must begin drawing tax-sheltered savings as income in retirement is like...