SECURE

IRS Gives the Holiday Gift of SECURE 2.0 Guidance

Wednesday, December 27, 2023
On December 20, the IRS gave us the holiday gift of some guidance on a few provisions from the SECURE 2.0 Act. Notice 2024-02 is in a question-and-answer format and provides much needed clarification on SECURE 2.0 provisions, some of which are already in effect, and others which will come online in just a few short days in 2024.
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SECURE 2.0’s Biggest Mess

Monday, November 06, 2023
Of the 92 provisions in the SECURE 2.0 legislation, signed into law last December, by far the most challenging is section 327. Section 327 changes the distribution rules for spouse beneficiaries of IRA (and workplace plan) account holders and is effective January 1, 2024.
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IRA Mid-Term Exam

Monday, October 16, 2023
The Investment Company Institute (ICI) is an association representing mutual fund companies and similar investment companies. Each year, ICI conducts a survey of the prevalence of IRAs in American households.
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How to Lose an Inherited IRA and Gain a Big Tax Bill

Wednesday, October 11, 2023
Did you inherit an IRA from someone who is NOT your spouse? This is not uncommon. Maybe you inherited from a sibling or a parent or a friend. If this is your situation, proceed with caution! For nonspouse beneficiaries, a wrong move can result in disastrous consequences. So, take your time and do it right.
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ALAR – The “At Least as Rapidly” Rule

Monday, June 05, 2023
For deaths in 2020 or later, we know that a non-eligible designated beneficiary (NEDB) of an IRA is subject to the 10-year rule. Meaning, the account must be emptied by the end of the tenth year after the year of death. In its proposed SECURE Act regulations, the IRS takes the position that when death occurs on or after the required beginning date (RBD – generally April 1 of the year after a person turns 73), an NEDB must also take annual required minimum distributions (RMDs) in years 1 – 9 of the 10-year period.
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Congress Considers Spending Bill That Includes SECURE 2.0

Wednesday, December 21, 2022
As you may have read, Congress is considering passage of a $1.65 trillion spending bill that contains a number of retirement savings plan provisions. As of this morning (December 21), the bill has not been passed, and both houses of Congress only have until this Friday (December 23) to do so. If passed, President Biden is expected to sign the bill immediately.
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