Results for "individual retirement accounts (IRAs)"

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Planning Roth conversions during tax reform uncertainty

June 23, 2017

What will 2017 or even 2018 tax rules look like? Going into summertime it's starting to look like any major tax reform may not be effective until 2018. One thing is for sure, though: Roth conversions will be affected, both the conversions already...

Grad students could fund IRAs with stipends under Senate bill

June 19, 2017

A bi-partisan Senate bill that would allow funds from a graduate student's stipend or fellowship to be deposited into an Individual Retirement Account has been introduced by Elizabeth Warren (D-Mass.), Mike Lee (R-Utah), Ron Wyden (D-Ore.) and...

Fidelity launches funds that can make RMDs for aging baby boomers

June 12, 2017

Fidelity Investments is hoping to rouse interest in an otherwise sleepy market for managed-payout funds by launching funds that can make required minimum distributions for investors, at a time when the first baby boomers have just started reaching...

As DOL fiduciary rule takes effect, B-Ds focus on compliance

June 9, 2017

After seven years of rule-making fraught with political intrigue, intense lobbying and an abundance of conjecture, the Labor Department's fiduciary rule is getting its day in the sun. Today marks the beginning of a phased implementation period...

Labor Secretary Acosta: Concerns with DOL fiduciary rule 'not heard' during original rulemaking

June 7, 2017

Secretary of Labor Alexander Acosta hinted Wednesday that the Obama administration didn't adequately consider "concerns" raised during the rulemaking process surrounding the Department of Labor's fiduciary rule. Mr. Acosta made the remark during...

Retirement fees could rise 200% post-DOL, Chamber of Commerce warns

May 30, 2017

The U.S. Chamber of Commerce, which lobbied against adoption of the Department of Labor's fiduciary rule for retirement accounts, has published a report highlighting the negative effects the new rule will have on retirement savers. The report...

In new fiduciary rule FAQs, DOL gives quasi-endorsement of clean shares

May 23, 2017

The Department of Labor, in a recently released set of frequently asked questions related to its fiduciary rule, gave an endorsement of sorts to clean shares, saying the new mutual-fund share class represents one of the "most promising responses"...

President Trump signs resolution killing state auto-IRA rule

May 18, 2017

President Donald J. Trump on Wednesday evening signed a joint resolution killing an Obama-era regulation that encouraged states to set up retirement plans known as auto-IRAs. The Senate passed the resolution, H.J. Res. 66, on May 3. The House...

5 costly inherited IRA mistakes

May 12, 2017

Inherited individual retirement account mistakes are expensive and often fatal, meaning they cannot be fixed like some other IRA mistakes can. Advisers should have their antennas up when an IRA owner dies and leaves the IRA to a non-spouse beneficiary,...

Merrill Lynch will allow IRA commissions in some circumstances under DOL fiduciary rule

May 11, 2017

Merrill Lynch will allow advisers to receive commissions from some transactions in individual retirement accounts under the Department of Labor's fiduciary rule, the company announced Thursday, backing off a hardline position against commissions...

What's really behind the opposition to state auto-IRAs?

May 10, 2017

State auto-IRA programs were dealt a blow last week, when the Senate voted to overturn an Obama-era rule that promoted creation of these retirement plans. President Donald J. Trump is now poised to sign away the Labor Department rule. Observers...

The conundrum of state-run retirement plans

May 8, 2017

Last Wednesday, the Senate narrowly voted to overturn a Department of Labor policy that would help states offer retirement savings plans. The policy had created a safe harbor that essentially would have exempted states from complying with ERISA...

Forget bingo! More Americans are working part-time in retirement

May 6, 2017

Mandy Hummel needed a change. A resident of Grass Valley, Calif., located outside Sacramento in the foothills of the Sierra Nevada mountains, Ms. Hummel had spent the last several years of her career working in customer service for a company...

6 tips for getting clients ready for part-time retirement

May 5, 2017

A growing number of Americans are choosing to retire from full-time employment and work part-time in retirement. Here's how financial advisers can help them through that transition:

Senate votes to kill state auto-IRA rule

May 4, 2017

The Senate voted Wednesday to kill Obama-era rules promoting the creation of certain retirement plans, called auto-IRAs, by states. The bill now heads to the desk of President Donald J. Trump, who is expected to sign it into law. The Senate...

Avoid these common RMD mistakes

April 24, 2017

With roughly 10,000 baby boomers turning age 70½ every day, knowing how to help clients take required minimum distributions from retirement accounts like 401(k)s and IRAs is becoming more important for advisers. The topic of RMDs is actually...

Help clients use qualified charitable distributions to save on taxes

April 14, 2017

Charitable IRA rollovers, technically known as qualified charitable distributions, save taxes. So why aren't clients taking advantage of them? We're not seeing many people using them, when most clients who qualify should be. This tax benefit...

President Trump signs resolution to effectively kill city auto-IRA rule

April 13, 2017

President Donald J. Trump on Thursday signed into law a resolution that nullifies Obama-era retirement rules meant to encourage cities and other municipalities to develop auto-IRA programs for private-sector workers. The resolution, H.J. Res....

Taxpayers only hurting themselves by not mentioning their nondeductible IRA contributions

March 22, 2017

By now nearly all taxpayers have begun the arduous task of compiling the information needed to prepare their 2016 tax return, including sifting through receipts and statements to determine what's needed for the return and what is just noise....

The Department of Labor's fiduciary rule: Where are we now?

March 14, 2017

The Trump administration has issued a proposed regulation to delay the applicability date of the Department of Labor's fiduciary rule. That will almost certainly be followed by a final rule that delays the date until June 9, 2017. During that...

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