Archive: retirement planning

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CARES Act Retirement Plan and IRA Provisions

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law on March 27, 2020. This legislation includes many COVID-19 relief provisions, including some that impact defined contributions plans such as 401(k) and 403(b) and IRAs. Most of these provisions are designed to relieve many of the restrictions associated with gaining access […]

New IRA Distribution Rule

As we rang in 2020,  the Setting Every Community Up for Retirement Enhancement Act of 2019, also known as the SECURE Act went into effect, enacting a number of major changes to IRA and 401(k) retirement plans. From an estate planning perspective, perhaps the most significant change under the SECURE Act is the mandate requiring plan […]

New Private Foundation Tax Rate

The new year has brought us the Setting Every Community Up for Retirement Enhancement Act of 2019, referred to as the SECURE Act, which contains a number of significant changes to IRA and 401(k) retirement plans.    Changes include: Repeal of maximum age at which traditional IRA contributions can be made An increase to age […]

SECURE Act Finally Becomes a Reality

After some delay and with great anticipation, the Setting Every Community Up for Retirement Enhancement (SECURE) Act has been signed into law. The bill was approved by the House of Representative earlier this year but stalled in the Senate until it was passed last week as part of the Further Consolidate Appropriates Act 2020, a […]

Valuable Financial Lessons: Roth IRA Accounts for Your Children and Grandchildren

If you have children or grandchildren working this summer, opening a Roth IRA account in their name can give them a head start on their retirement savings. A Roth IRA is an individual retirement account which allows for after-tax contributions of earned income to grow tax-free with tax-free withdrawals during retirement. Parents or grandparents can […]