By now, you have likely heard of the new law called SECURE 2.0. It was passed at the end of 2022 as part of the big omnibus spending bill and contains numerous provisions relating to qualified retirement plans and IRAs. It is a follow-up of sorts to ...
January
20
2023
SECURE 2.0: Lots (and Lots) of New Retirement Plan Rules
Posted by David J. Kupstas, FSA, EA, MSEA
in 401(k), Retirement, Financial Planning, defined benefit, pbgc, secure act, SIMPLE, IRA, SEP, Roth, SECURE 2.0
with No Comments
December
16
2022
If you’re older than a certain age, you’re familiar with the tagline, “Roaches check in, but they don’t check out.” It’s kind of like that in a 401(k) plan. You can easily check your money in (contribute to the plan), but it can be hard to check it o...
November
21
2022
A Guide to SIMPLE IRAs and 401(k)s for TPAs
Posted by David J. Kupstas, FSA, EA, MSEA
in 401(k), Retirement, Financial Planning, Third Party Administration, TPA, SIMPLE, IRA, SEP, Roth
with No Comments
Note: The SECURE 2.0 Act of 2022 made several changes to the rules related to SIMPLEs. Accordingly, some of the information in this article may be outdated. In the retirement plan world, SIMPLE stands for Savings Incentive Match PLan for Employees. T...
March
30
2022
What is Tax-Loss Harvesting? How Can it Help Reduce Your Tax Drag?
Posted by Jimmy Pickert, CFA®, CFP®, CRPS®
in Investments, Tax Strategy, Financial Planning
with No Comments
Tax-loss harvesting is one of the most well-known tax tactics for investors. It is the process of selling an investment that carries an unrealized loss. The loss realized by the investor can be used to offset realized gains elsewhere. Additionally, u...
January
20
2022
The SECURE (Setting Every Community Up for Retirement Enhancement) Act was passed in 2019, effective 2020. The act established a new 10-year rule, requiring certain beneficiaries to withdraw their entire inherited retirement account balance by Decemb...
March
11
2021
In 2020, as part of the CARES Act COVID-19 relief bill, Congress waived the requirement to take a minimum distribution from certain retirement accounts. The waiver wasn’t enacted until March, though, and by then many investors had already taken some ...
October
07
2020
As a business owner and entrepreneur, you are constantly being pulled in several different directions. You have a 401(k) plan in place as a robust benefit for your employees and rely on your Third Party Administrator (TPA) to help keep your plan comp...
September
16
2020
Picture the future. What are your plans for 10 years from now? How about 5 years from now? One year? How certain are you that your plans will become a reality? Of course, the truth is we can and should plan, but we can never be certain of what the fu...
August
19
2020
You may recall that the CARES Act says required minimum distributions (RMDs) don’t have to be taken in 2020 from IRAs and many employer retirement plans. This seems like a pretty simple concept, but it’s not. There were a number of unanswered questio...
July
08
2020
The CARES Act, signed into law on March 27, 2020, allows employees affected by COVID-19 greater access to money set aside for them in employer retirement plans. As often happens, many details of this new law were not immediately clear. We found ourse...