Tag: retirement

There’s more than just taxes to consider when choosing a retirement location

If you are nearing retirement age, a move to warmer climates or nearer to relatives might be in your plans.  While lists of the "best" places to retire and rankings based on how states tax retirees are plentiful, and can be...

Guest Author Dan Bolda: New legislative changes to 401(k) provisions offers COVID-19 relief

The $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes a host of provisions providing relief for both individuals and businesses with respect to retirement plans, including expanded availability of hardship withdrawals and plan loans.  Plan sponsors must...

Understanding the key elements of the SECURE Act

Recently signed into law, the Setting Every Community Up for Retirement Enhancement (SECURE) Act is landmark legislation that may affect how you plan for your retirement. Many of the provisions go into effect in 2020, which means now is the...

New limitations for retirement plan funding

The IRS recently announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2019.  The IRS today issued technical guidance detailing these items in Notice 2018-83. Highlights of changes for 2019 The contribution...

IRS announces 2018 pension plan limitations; 401(k) contribution limit increases to $18,500 for 2018

The IRS recently announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2018. Highlights of Changes for 2018: The contribution limit for employees who participate in 401(k), 403(b), most 457 plans,...

IRS announces 2018 pension plan limitations

The Internal Revenue Service issued the annual cost of living adjustments Thursday for 401(k) contributions, pension plans and other retirement-related matters. The contribution limit for workers who are enrolled in 401(k), 403(b), most 457 plans, and the federal government’s Thrift...

Is your tax-free IRA really tax-free?

According to a recent article in The Wall Street Journal, taxpayers should beware that as IRAs grow in size, so does the potential for taxes on these accounts if they have investments in alternative assets such as hedge funds, private-equity...

Getting retirement benefits abroad: What you need to know

If you plan on retiring overseas, it may still be possible to receive your retirement benefits while living abroad. Here's what the Social Security website advises: If you’ve worked in both the United States and another country, it may be possible...

IRS announces 2017 pension plan limitations

The IRS recently announced that the limit on elective deferral for contributions to 401(k) plans, 403(b) plans, most 457 plans, and the federal government’s Thrift Savings Plan remains $18,000 for 2017, and the catch-up contribution limit for those 50 and...

IRS issues new procedure for IRA and retirement plan rollovers

Last month, the IRS issued a self-certification procedure designed to help recipients of retirement plan distributions who inadvertently miss the 60-day time limit for properly rolling these amounts into another retirement plan or individual retirement arrangement (IRA). Previously, taxpayers who...