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6 Lesser-Known SECURE Act Provisions Impacting 401ks

While the major changes resulting from the SECURE Act’s annuities, RMD and open MEPs provisions—plus the elimination of the “Stretch” IRA—have grabbed most of the headlines since the Act became the “law of the land” as of Jan. 1, 2020, there are a number of other 401k-impacting provisions that need to be on the radar …

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Winter 2020 Update: How the Secure Act is Changing Retirement

A NON-TECHNICAL REVIEW OF QUALIFIED RETIREMENT PLAN LEGISLATIVE AND ADMINISTRATIVE ISSUES ON DECEMBER 20, 2019, THE SETTING EVERY COMMUNITY UP FOR RETIREMENT ENHANCEMENT (SECURE) ACT WAS SIGNED INTO LAW. The SECURE Act represents some of the most significant changes to retirement plan law since the passage of the Pension Protection Act of 2006, over thirteen …

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Taking Advantage of Employer-Sponsored Retirement Plans

Employer-sponsored qualified retirement plans such as 401(k)s are some of the most powerful retirement savings tools available. If your employer offers such a plan and you’re not participating in it, you should be. Once you’re participating in a plan, try to take full advantage of it. Understand your employer-sponsored plan Before you can take advantage …

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Choosing a Beneficiary for Your IRA or 401(k)

Selecting beneficiaries for retirement benefits is different from choosing beneficiaries for other assets such as life insurance. With retirement benefits, you need to know the impact of income tax and estate tax laws in order to select the right beneficiaries. Although taxes shouldn’t be the sole determining factor in naming your beneficiaries, ignoring the impact …

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Retirement Plans for Small Business

As a business owner, you should carefully consider the advantages of establishing an employer-sponsored retirement plan. Generally, you’re allowed a deduction for contributions you make to an employer-sponsored retirement plan. In return, however, you’re required to include certain employees in the plan, and to give a portion of the contributions you make to those participating …

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COVID-19 UPDATE