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Contributing Articles

Ed Slott, CPA, is one of the nation's top experts on retirement plans. For more than 30 years, he has educated both consumers and financial advisors on retirement tax-saving strategies. Most recently, he published Ed Slott's Retirement Decisions Guide: 2020 Edition and is the host of several popular public television specials, including his latest, Retire Safe & Secure! With Ed Slott.

Learn more about Mr. Slott.

How Advisers Can Help Clients With 401(k) Loans

Tuesday, June 22, 2021

As a result of widespread job loss during the coronavirus pandemic, many suddenly-unemployed persons who dipped into retirement accounts are saddled with outstanding loans from company savings plans. Advisers can play a valuable role in helping these clients by understanding how the “loan offset” rules work, how the CARES Act affects loan offsets, and how offsets differ from “deemed distributions.”

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Required IRA, 401(k) withdrawals would start at age 75 under congressional proposal. Here’s who would benefit

Wednesday, June 16, 2021

The age when older Americans must start making withdrawals from retirement accounts could change yet again.

Under a provision in proposed retirement legislation pending in Congress, required minimum distributions, or RMDs, would start at age 75 by 2032, up from age 72 — which only took effect last year after the 2019 Secure Act raised it from age 70½.

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Midyear checkup on required minimum distributions

Thursday, June 10, 2021

Any IRA owner turning age 72 this year will have a required minimum distribution due for 2021, but the due date for taking that RMD will depend on the half of the year in which they were born. June 30 is the cut-off date when the transition to the SECURE Act age 72 RMD rule becomes complete. The SECURE Act raised the RMD age for owners of individual retirement account owners and certain retirement plan participants from 70½ to 72, but only for those who turned 70½ in 2020 or later.

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IRS clarifies the 10-year rule, but with added confusion

Wednesday, May 26, 2021

The issue involves the 10-year rule that most non-spouse designated beneficiaries (like adult children or grandchildren, and certain qualifying trusts) who inherit individual retirement accounts will be subject to under the SECURE Act. It was expected that the 10-year rule would work the same way as the 5-year rule: There wouldn’t be annual required minimum distributions, but the entire inherited IRA account balance would have to be withdrawn by the end of the 10-year term.

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Congress, stop the madness and eliminate RMDs

Wednesday, May 12, 2021

Congress has come up with what some are calling SECURE 2.0, or Son of SECURE  a bill entitled Securing a Stronger Retirement Act that includes many positive changes to encourage retirement savings. However, one seemingly pointless proposal in the legislation would raise the required minimum distribution age from 72 to 75 over 10 years. Most advisers might argue that consumers will probably love this.

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