SECURE Act Update: IRS Provides Required Minimum Distribution Relief
Among its many popular provisions, the SECURE Act extended the age at which one must begin making withdrawals from tax advantaged savings.
Tag: RMDs
IRS Proposes Changes to Tables Used in RMD Calculations
The purpose of any such updates would be to increase the effectiveness of tax-favored retirement programs by allowing retirees to retain sufficient retirement savings in these programs for their later years, the IRS says.
Individuals Concerned About Impact of RMDs on Taxes
Nearly one-third (32%) of individuals surveyed by Allianz Life Insurance Company of North America say they have difficulty understanding how required minimum distributions could impact their overall tax obligation.
Senators Portman and Cardin Offer Another Retirement Reform Bill
A bipartisan pair of Senators introduced another retirement-focused piece of lame duck legislation, including more than 50 provisions aimed at increasing savings in DC plans and IRAs.
Industry Weighs President Trump’s Executive Order on MEPs, RMDs
The president on Friday signed an executive order directing the Treasury Department to reassess required minimum distributions from 401(k) plans and ordering DOL staff to explore the possibility of allowing small businesses to join open multiple employer plans.
IRS Issues Guidance Regarding 403(b) Plan RMDs and Missing Participants
A memo to examiners lists actions 403(b) plan sponsors should take to locate missing participants in order not to be challenged on violating RMD rules.