IRAs have become ubiquitous components of estate plans. The SECURE Act of 2019 altered the landscape for IRAs significantly. Just when advisors began to get comfortable with the new 10-year rule, the United States Treasury Department promulgated proposed Treasury Regulations early in 2022 adding additional complexity to that rule by requiring annual distributions for a non-Eligible Designated Beneficiary of a participant who died after their Required Beginning Date. Once again, the SECURE Act … [Read more...] about What You Need to Know About SECURE Act 2.0
2022 IRA RMDs Have Been Reduced
The Internal Revenue Service has reviewed the formula that is used to calculate the required minimum distributions for 401(k) accounts and traditional retirement accounts. They have made a change that will benefit many seniors, and we will look at it in this post. Traditional Individual Retirement Accounts Before we focus on the point of this post, we will share some broader information about individual retirement accounts and 401(k)s. A traditional individual retirement account is funded … [Read more...] about 2022 IRA RMDs Have Been Reduced
