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Retirement Planning Articles

 

CARES Act Relaxes Qualified Plan and Employee Benefit Rules to Improve Cash Flow for Employer and Employees

CARES Act Relaxes Qualified Plan and Employee Benefit Rules to Improve Cash Flow for Employer and Employees

Posted by Michael Grimaldi on April 13, 2020

The CARES Act includes several relief provisions for tax-qualified retirement plans, expands health care flexible spending accounts so funds can be used for over-the-counter items, clarifies some health insurance plan questions, and, through year-end, allows employers to reimburse employees for student loan payments tax-free. This alert explains those items.

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Now May Be a Good Time for a Roth Conversion

Now May Be a Good Time for a Roth Conversion

Posted by D’Marie Murray on April 06, 2020

When life gives you lemons, make lemonade. The financial markets have plummeted over the last month. But there's an upside for long-term investors: Low market values may provide a tax-smart opportunity to convert your traditional IRA to a Roth IRA. This strategy is simple, but it's not right for everyone. Here are some factors to consider before you execute a Roth conversion in 2020.

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401(k) Plan Contributions: Keep Calm but Know Your Options

401(k) Plan Contributions: Keep Calm but Know Your Options

Posted by Bryan Staniszewski on April 02, 2020

The coronavirus (COVID-10) pandemic has had adverse effects on many industries. Both employers and employees are seeking ways to respond to financial stress resulting from the economic slowdown and financial market volatility. If your company's revenue has plummeted, you might be considering eliminating or scaling back your contributions to employees' 401(k) accounts. Here's what you should know before making any cuts.

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Consider Taxes When Dividing Up Retirement Accounts in Divorce

Consider Taxes When Dividing Up Retirement Accounts in Divorce

Posted by Brian Kern on March 03, 2020

Getting divorced? You might want to divide your marital assets quickly and cut financial ties with your ex as soon as possible. But, when it comes to splitting up IRAs, 401(k) plan funds and other tax-favored retirement accounts, it's important to set up your divorce papers properly and follow the formalities of the settlement agreement to avoid potential tax-related pitfalls.

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Age-Related Tax and Financial Planning Milestones

Age-Related Tax and Financial Planning Milestones

Posted by Cheryl A. Jankowski on February 11, 2020

Birthdays should be celebratory, not stressful, but some ages come with tax and financial consequences that require your attention. From birth to old age, you can't beat Father Time, but you and your loved ones can plan for these milestones.

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Stretch IRAs Lose Potency  under the SECURE Act

Stretch IRAs Lose Potency under the SECURE Act

Posted by Cheryl A. Jankowski on January 24, 2020

The SECURE Act contains a number of favorable provisions that will help Americans save more for retirement. However, the new law also contains an unfavorable provision that will affect nonspouse IRA beneficiaries who inherit accounts with substantial balances.

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SECURE Act Affects Retirement and Tax Planning for Individuals

SECURE Act Affects Retirement and Tax Planning for Individuals

Posted by Cheryl A. Jankowski on January 20, 2020

On December 20, President Trump signed into law the Setting Every Community Up for Retirement Enhancement (SECURE) Act. Here are some changes that are most likely to affect individuals, including some that aren't related to retirement savings.

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Immediate Actions Needed by Retirement Plans to Comply with the SECURE Act of 2019

Immediate Actions Needed by Retirement Plans to Comply with the SECURE Act of 2019

Posted by Bryan Staniszewski on January 17, 2020

The SECURE Act is landmark legislation that affects the rules for creating and maintaining workplace retirement plans for all employers (including for-profit and tax-exempt employers of all sizes). Whether you currently offer your employees a retirement plan (or are planning to do so), you should consider how these new rules may affect your current retirement plan (or your decision to create a new one).

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What Employers Should Know About the SECURE Act

What Employers Should Know About the SECURE Act

Posted by Bryan Staniszewski on January 13, 2020

The Setting Every Community Up for Retirement Enhancement (SECURE) Act was mainly intended to help individuals save more for retirement. But the new law also contains provisions that help simplify the administration of retirement plans for employers and allow more employees to participate in 401(k) plans. 

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Fall 2019 Quarterly Insights

Fall 2019 Quarterly Insights

Posted by Michael Grimaldi on October 24, 2019

Available through our affiliation with the BDO Alliance, download the fall edition of Quarterly Insights.

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