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Retirement Contributions Limits Announced for 2021

Posted by Missy Dennis on Dec 30, 2020 8:08:00 AM

Cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for 2021 are as follows:

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Topics: Personal Finance, Retirement

Individual Retirement Arrangements (IRA): Terms To Know

Posted by Scott Farnes on Nov 25, 2020 7:59:00 AM

While many taxpayers already know about Individual Retirement Arrangements, or IRAs, and have set up an IRA with a bank or other financial institution, a life insurance company, mutual fund or stockbroker, there are other taxpayers such as those new to the workforce who may not understand how IRAs help them save for retirement. With this in mind, here is a list of basic terms to help people better understand their IRA options:

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Topics: Personal Finance, IRA, Retirement

Temporary Relief for Retirement Plan Participants

Posted by Scott Farnes on Aug 27, 2020 8:09:00 AM

Temporary administrative relief has been issued that helps certain retirement plan participants or beneficiaries who need to make participant elections by allowing flexibility for remote signatures. Generally, signatures of the individual making the election must be witnessed by a notary public or in the presence of a plan representative. This includes a spousal consent as well.

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Topics: Personal Finance, Retirement

Retirement Accounts: Rollover Relief for RMDs

Posted by Taylor Bennett on Jul 21, 2020 8:02:00 AM

Generally, taxpayers must begin taking a required minimum distribution (RMD) from a defined-contribution retirement plan, including a 401(k) or 403(b) plan, or an IRA when they reach age 72 (70 1/2 if they reached 70 ½ before January 1, 2020). The RMD for any year is the account balance as of the end of the immediately preceding calendar year divided by a distribution period from the IRS's "Uniform Lifetime Table" and is the minimum amount you must withdraw from your account each year.

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Topics: Personal Finance, Retirement

Retirement Contributions Limits Announced for 2020

Posted by Taylor Bennett on Dec 6, 2019 8:44:00 AM
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Topics: Personal Finance, Retirement

Take Retirement Plan Distributions by December 31

Posted by Scott Farnes on Dec 4, 2019 8:21:00 AM
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Topics: Personal Finance, Taxes, Retirement

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