Tag: retirement
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...
Guest Author Lisa Zimmer: The final fiduciary rule has arrived . . . finally
The Department of Labor (DOL) on April 6, 2016, issued the highly anticipated final fiduciary rule. While the essence of the final rule remains the same as the rule proposed last year, it has been tweaked to address, or eliminate,...
Retirement contribution COLA limits
The Internal Revenue Service announced cost-of-living adjustments affecting dollar limitations for tax year 2016. Some limitations such as those governing 401(k) plans and IRAs, will remain unchanged because the increase in the Consumer Price Index did not meet the statutory...
IRS increases 401(k) contributions for 2015
The Internal Revenue Service recently announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2015. This includes an increase in the elective deferral limits for 401(k) contributions and catch up contribution limits. Below...
New for 2013 – “In-Plan Roth Rollover”
For the past few years, plans with designated Roth accounts could allow an individual to roll over an amount from a non-Roth account into the individual’s designated Roth account in the same plan, but only amounts the individual could have...
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