IRS simplifies retirement plan rulesTerry Savage
Don’t make the mistake of glossing over the newest retirement plan rules and regulations going into effect in 2020. The IRS has recently released a variety of new standards that directly (and positively) impact qualified retirement plans, employees, and plan administrators. But administrator...
TheInternal Revenue Servicedetailed the increases in its annual cost-of-living adjustments for pension plans and other retirement accounts. Workers who participate in 403(b) and the federal government’s Thrift Savings Plan will also be able to increase their annual contribution to $23,500 in 2025...
The Internal Revenue Service detailed the increases in its annual cost-of-living adjustments for pension plans and other retirement accounts. Workers who participate in 403(b) and the federal government's Thrift Savings Plan will also be able to increase their annual contribution to $23,500 in ...
New rules for retirement savings Starting in 2024, employers can make matching contributions to an employee’s retirement account based on the employee’s student loan payments. The Act also allows for limited rollovers from 529 plans to Roth IRAs beginning in 2024. There are ways to reduce you...
Retirees will also need to take requiredminimum distributions (RMDs)from retirement accounts requiring them. Otherwise, the IRS charges a 50 percent tax on what they should have withdrawn. Consider also:Hardship Withdrawal Rules for a Fidelity Investments 401(k) ...
While the determination letter process remains available for pre-approved retirement plans, plan sponsors of individually designed plans may apply for a determination letter under the new rules only upon the establishment or termination of a qualified retirement plan. Aside from establishment or terminatio...
If you do not have a current retirement plan or are looking to have more options and would like to open a new individual retirement plan (IRA) we would be happy to assist you. Atlantic Financial's IRA accounts (Roth|SEP|Traditional) have the widest selection of investment ...
On November 1st, the IRS released a number of inflation adjustments for 2024, including to certain limits for qualified retirement plans. As expected, this year’s adjustments are more modest than last year’s significant increas
Your retirement plan is not required to accept your transfer. IRA transfers can become complex when they involve liquidations or conversions. IRA Transfer vs. Rollover Although the terms may be used interchangeably, an IRA transfer is not the same thing as anIRA rollover. ...