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The IRS has updated the instructions for Form 8606, which is used to report contributions and distributions, as well as conversions, from IRAs—including Roths.
Form 8606, Nondeductible IRAs, is used to report:
Nondeductible contributions to traditional IRAs;
Distributions from traditional,...
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As we transition from 2023 to 2024, it is easy to look ahead and plan and prepare for the future, especially with things like an amazing NTSA Summit in sunny San Diego in February, as well as navigating the implementation of SECURE 2.0, more retirement legislation on the horizon, the ins and outs...
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A new study finds that two-thirds of people are confident they will be able to maintain a comfortable lifestyle in retirement, writes Ted Godbout in MarketBeat. He continues that diving deeper into the data shows that sentiment varies dramatically across demographic segments.
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Tech Talk addresses how the deadline for the timely adoption of an amendment for a pre-approved plan that is not a governmental plan is determined.
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The most powerful force in the Universe is compound interest. - Albert Einstein
In 1984, the Portland Trailblazers selected Sam Bowie over Michael Jordan as their draft pick—and as the saying goes, the rest is history. Although Sam Bowie was a terrific 7’3” center, his name has long been forgotten...
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In our comment letter submitted to the Department of Labor (DOL) on Jan. 2, 2024, the American Retirement Association (ARA) expressed support for—yet specific issues with— the department’s proposed definition of “fiduciary investment advice” and amendments to PTE 2020-02.
The rulemaking package,...
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Required minimum distributions (RMDs) are more than regulatory requirements—they affect real people. In its latest issue of Employee Plans News, the IRS provides a refresher concerning the application of the RMD rules regarding plan beneficiaries.
Spousal Beneficiaries
Spousal beneficiaries...
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The IRS has issued a reminder that people born before 1951 need to take required minimum distributions (RMDs) from funds held in IRAs and other retirement plans by the end of the year. And in so doing, it provides an opportunity to in turn remind participants as well as clients whose participants...
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A report by The Pew Charitable Trusts released on Dec. 22 revealed that state automated savings programs in the United States have collectively reached over $1 billion in assets as of November. This development is part of a broader initiative to assist private sector workers, especially those...
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Tech Talk addresses whether when one defaults on a loan taken from a 403(b), one can later take another.
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Recent Comments
Does the roth requirement for catch-up contributions for people who earned $145,000 apply to 457...
Hi Ed,
I really liked this article and I think you make a lot of sense. And I had no...
I believe there's a misstatement in that last quote - it should refer to governmental and...
Working with several medical providers as clients, I note that the high-end earners tend to push...
Congratulations to NTSAA for landing a good one. Nathan's breadth of experience and...