Results for "individual retirement accounts (IRAs)"

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Advisers back Trump's directive to ease distribution rules for retirement accounts

August 31, 2018

Investment advisers support President Donald J. Trump's effort to allow people to keep money in their retirement accounts longer. This afternoon at an event in Charlotte, N.C., Mr. Trump will sign an executive order directing the Treasury Department...

10 important client considerations with 401(k) rollovers

January 12, 2017

A tremendous amount of money flows from 401(k)s to IRAs every year through rollovers as individuals retire, switch jobs or just consolidate their wealth. Financial advisers are eager to serve this marketplace due to the opportunity involved....

What's in your IRA? GAO says retirement accounts hold lots of 'unconventional assets'

January 10, 2017

Individual retirement accounts held roughly $50 billion in “unconventional assets” in half a million accounts at the end of 2015, according to a report published Monday by the Government Accountability Office. Real estate, private equity...

Don't assume the Roth IRA is beyond the reach of the tax man

March 29, 2016

Do senior voters carry enough weight to keep the tax-free status of the Roth IRA intact? Even if they leave the tax-free status alone, there are several ways Congress could go after that giant pile of money. Congress has the legal power to change...

Majority of retirees roll funds out of 401(k) plans

March 15, 2016

Back in 1982 when leading edge baby boomers were in their 30s and launching their careers, a British punk rock group called The Clash released their only hit single, “Should I Stay or Should I Go?” Today, more than 30 years later, many of...

New Jersey poised to create auto-IRA program

February 28, 2019

New Jersey is poised to become the latest state to establish a so-called auto-IRA program to help residents save for retirement. New Jersey's state Assembly passed a bill this week that would create the New Jersey Secure Choice Savings Program,...

Track dates to save clients from new, big IRS fees

January 31, 2016

The IRS has increased its fees to request private-letter rulings (PLRs) for extensions upon missing two common retirement deadlines: 60-day rollovers and Roth recharacterizations. Effective Feb. 1, 2016, fees for requesting PLRs to extend the...

Efforts to help gig economy workers save for retirement gaining ground

July 10, 2018

With a sizable portion of American workers doing temporary, contract or on-demand work, the pressure is on everyone — companies, policymakers, the retirement industry and workers themselves — to figure out ways to make them better prepared...

Beware the early distribution penalty

December 20, 2015

Withdrawals before age 591/2 from plans and IRAs that are used to pay medical bills are generally exempt from the 10% early distribution penalty. But not all medical expenses qualify. In a recent tax case, early IRA withdrawals used to pay medical...

How to avoid year-end RMD errors

October 25, 2015

Advisers will soon be receiving calls from clients about taking year-end required minimum distributions from IRAs and other retirement accounts. Avoid these common errors: 1. Not taking into account all retirement accounts subject to RMDs. Clients...

Early planning of qualified charitable distributions produces better tax results

January 8, 2019

The use of qualified charitable distributions, or QCDs, from individual retirement accounts has ballooned, but tax savings opportunities are still being lost because of some basic misunderstandings about how the QCD rules work. Plan these out...

Help clients avoid first-time RMD errors

February 25, 2015

Each year an increasing crop of IRA owners begins taking their required minimum distributions from their individual retirement accounts and company plans. RMDs must generally begin once an IRA owner (or plan participant) reaches their required...

Can inherited IRAs be split in a divorce?

July 16, 2018

Can an inherited individual retirement account be split in a divorce? No one knows for sure, but it's already happening. This is a new phenomenon, and it may signal a developing trend in future divorce agreements, especially in light of the...

Heed custodian's asset allowances

August 10, 2014

The Tax Court has ruled that an individual had a taxable IRA distribution when he tried to get around his custodian's policy of not allowing real estate as an individual retirement account investment. The court said the custodian didn't have...

Inherited IRAs in bankruptcy cases

July 13, 2014

The Supreme Court ruled unanimously last month that inherited individual retirement accounts are not protected under federal bankruptcy laws. This ruling does not affect your clients' own IRAs. Those are retirement funds that are protected in...

Advisers proceed with caution following inherited IRA ruling

June 23, 2014

Clients' estate plans and individual retirement accounts are due for a review in light of a recent Supreme Court decision that places inherited IRAs into the clutches of creditors in the event of a bankruptcy. In the case of Clark v. Rameker,...

IRS targeting IRA rollovers after Tax Court ruling

April 11, 2014

Advisers who are salivating over big IRA rollovers from new clients: Watch out. The IRS has a bull's-eye on those dollars. Starting Jan. 1, the Internal Revenue Service will begin enforcing a rule permitting only one 60-day IRA-to-IRA rollover...

Age matters in Social Security-claiming strategies

January 10, 2014

Academic discussions of optimal Social Security-claiming strategies for married couples may make these important decisions seem clean and easy when both spouses are the same age. But real life is often messy. J.J. Green, president and chief...

IRA conversions surge ahead of tax break end

January 4, 2014

Tax Break for IRA Conversion Lured 10% of Millionaires Congress dangled an incentive for high-income Americans to convert their tax-deferred individual retirement accounts into post-tax plans. Their response was overwhelming. Conversions from...

New annuities starting to address RMDs

April 1, 2019

Allianz Life Insurance Co. of North America is launching an indexed annuity geared toward clients 70½ and older who don't need the money that the government requires they withdraw each year from retirement accounts in the form of required minimum...

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