On December 20, 2019, the President signed into law the Further Consolidated Appropriations Act, 2020, which includes the major retirement savings-related SECURE Act provisions previously passed by the House in April 2019. Many of the provisions will become effective January 1, 2020.
Read MoreAwaiting both House and Senate approval and signature by the President is the Consolidated Appropriations Act, 2020, which contains provisions to fund government operations for the coming fiscal year and includes SECURE Act provisions affecting retirement and individual savings plans.
Read MoreDrawing on its own retirement plan and consumer-directed healthcare account data, Ascensus offers a unique, comprehensive perspective into how Americans are saving for the future.
Read MoreA Traditional IRA is a tax-advantaged option for many working individuals to grow pretax retirement savings. But not everyone is eligible to contribute to a Traditional IRA. Learn more about the eligibility requirements.
Read MoreHow should an RMD be satisfied for the year of an IRA owner’s death? How should it be reported? Should the beneficiary’s share of the IRA assets be moved to an inherited IRA before paying out the RMD?
Read MoreAre your business clients frustrated with low employee participation in their retirement plans? It may be time for them to rethink their eligibility and contribution requirements.
Read MoreMay an individual roll over his 401(k) balance to a Puerto Rico retirement savings plan without tax consequences? May a Puerto Rico plan be moved to a 401(k) plan as a tax-deferred rollover?
Read MoreQuick Reference Tool: This flow chart helps individuals determine whether they are eligible for a Roth IRA contribution or a Traditional IRA deduction—or both—based on their modified adjusted gross income.
Read MoreThe IRS recently released the 2020 cost-of-living adjustments. Many key IRA and retirement plan limits were increased for 2020.
Read MoreHSA excess contributions may lead to questions from your HSA clients about how to handle the excess. Before you help clients address this issue, a basic overview of how to remove and report HSA excess contributions may be helpful.
Read MoreOne way that your employer plan clients can turn around low participation rates in their retirement plans—and save more—is by implementing automatic enrollment.
Read MoreThe IRS recently issued a notice of proposed rulemaking for updating life expectancy tables that are used when determining required minimum distributions.
Read MoreThe DOL recently issued proposed regulations intended to make it easier for employers to meet notification requirements when providing electronic retirement plan disclosures to plan participants and beneficiaries.
Read MoreWhat is a trust and why would someone name a trust as an IRA beneficiary? What distribution options does a trust beneficiary of an IRA have? How are distributions to a trust reported to the IRS? Can the underlying beneficiaries of a trust set up their own inherited IRAs?
Read MoreWhat is a Sarbanes-Oxley blackout notice? What is a blackout period? What information must be included in the blackout notice? What are the potential consequences of not providing a timely blackout notice?
Read MoreFor the next few months your organization may see an increase in RMD questions and transactions. Take a few minutes now to learn (or relearn) some basic RMD rules.
Read MoreAn IRA owner’s decision to select a beneficiary appears simple, but complex issues may surface. Learn more about three key issues so that your organization can be prepared.
Read MoreThe U.S. Social Security Administration has announced a cost-of-living increase for 2020 to several of its benefit amounts, including the Social Security taxable wage base.
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