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RMDS, THE STILL-WORKING EXCEPTION, AND THE BEST-LAID PLANS

Jun 16, 2021

By Andy Ives, CFP®, AIF® IRA Analyst A required minimum distribution (RMD) from a 401(k) (or other employer plan) must be taken prior to rolling remaining plan dollars to an IRA. An RMD cannot be rolled over, so it must be withdrawn before any rollover is completed....

MARRIAGE HAS ITS BENEFITS – 4 IRA RULES SAME-SEX COUPLES SHOULD KNOW

Jun 14, 2021

Sarah Brenner, JD Director of Retirement Edcuation June is PRIDE Month. This June also marks the sixth anniversary of the landmark Supreme Court case Obergefell v. Hodges, which legalized same-sex marriage. In the wake of this decision, millions of same-sex couples...

INHERITED 401(K) PLANS AND THE RMD AGE: TODAY’S SLOTT REPORT MAILBAG

Jun 10, 2021

By Andy Ives, CFP®, AIF® IRA Analyst Question: How can the beneficiaries of an estate roll a 401(k) paid to the estate to a Roth IRA? What steps must be taken? Bob Answer: Bob, Inherited IRAs cannot be converted to inherited Roth IRAs, but inherited 401(k) plans can...

IRS RECTIFIES MISTAKEN INTERPRETATION OF 10-YEAR PAYOUT RULE

Jun 9, 2021

By Ian Berger, JD IRA Analyst On April 14, we reported that the IRS was apparently interpreting the SECURE Act’s 10-year payout rule in a surprising way – to require annual required minimum distributions (RMDs). Now, the IRS has made it clear (without actually...

10-YEAR RULE: BENEFICIARY PLANNING “LOOPHOLE” CLOSED

Jun 7, 2021

By Andy Ives, CFP®, AIF® IRA Analyst With the passage of the SECURE Act, once common IRA beneficiary planning strategies have been upended. For example, no longer can just anyone stretch payments on an inherited IRA. You must qualify as an “eligible designated...