by Kenny | Nov 27, 2023
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport A few weeks ago, many of us were required to turn back our clocks one hour and say goodbye to daylight savings time. And with that change came the usual reminder to change the batteries in our smoke...
by Kenny | Nov 22, 2023
By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport Thanksgiving is almost here! This is a time for us to gather together and express our gratitude for all the good things in our lives. When it comes to our retirement accounts, we...
by Kenny | Nov 21, 2023
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport Year-end to-do lists are commonplace. The problem is, they always seem to get published in mid-to-late December. I can almost hear the collective “thanks for nothing” comment from readers as the...
by Kenny | Nov 15, 2023
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Remember coronavirus-related distributions, or “CRDs”? Passed as part of the CARES Act in March 2020, CRDs were special distributions designed to help people who contracted COVID or had financial hardship...
by Kenny | Nov 13, 2023
By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport You may have noticed grocery stores stocking up for Thanksgiving, and festive lights and displays going up everywhere. Yes, it is the holiday season, but it is also the season to...
by Kenny | Nov 9, 2023
By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport Question: In 2020 and 2021, when I was over 65 years old, I converted some of my IRA into a Roth IRA. Does the five-year rule still apply to me, or can I now draw out all of the...
by Kenny | Nov 8, 2023
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport An advisor called and said his 75-year-old client had just passed away. He had questions about the payout rules applicable to the three IRAs the client left behind: a traditional IRA, a Roth IRA, and...
by Kenny | Nov 6, 2023
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport 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...
by Kenny | Oct 19, 2023
By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport Question: I earn too much money and can’t do a Roth IRA. I have heard about the back-door Roth IRA strategy for those who earn more than the allowable contribution for the Roth IRA...
by Kenny | Oct 18, 2023
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport An estate can become the beneficiary of a person’s IRA in a couple of ways. First, the estate could be named outright as the beneficiary on the beneficiary form. This is not recommended. Why? One...
by Kenny | Oct 16, 2023
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport 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...
by Kenny | Oct 12, 2023
By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport Question: I have a client who just retired at age 80. He has $800,000 in his 401(k) plan which is being rolled over to an IRA. Does he have to take an RMD this year based on the...
by Kenny | Oct 11, 2023
By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport 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,...
by Kenny | Oct 9, 2023
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport My biggest gripe with legislation is the same complaint held by most – the bulk of it is written in legalese – i.e., difficult-to-understand language. I am no idiot, but sometimes I sure feel dumb...
by Kenny | Sep 11, 2023
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport The August 28, 2023 Slott Report summarized IRS Notice 2023-62, where the IRS delayed the effective date of the SECURE 2.0 rule requiring catch-up contributions by higher-paid older employees to be made on...
by Kenny | Sep 7, 2023
By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport Question: My name is Bruce. I am 65 years old, and I have a question about the SECURE Act. My mother died at age 89 on April 19, 2023, and I inherited her IRA. She had been receiving...
by Kenny | Sep 6, 2023
By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport Many IRA assets will ultimately go to nonspouse beneficiaries. When these beneficiaries inherit the funds, special rules kick in. Inherited IRAs are not like your own personal IRA...
by Kenny | Aug 30, 2023
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport The lunacy of IRA beneficiary payout rules continues to boggle the mind. As I guide advisors through the options available to their clients, various nuances present one unique scenario after...
by Kenny | Aug 28, 2023
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Last Friday afternoon (August 25, 2023), the IRS gave employer plans two more years to comply with the controversial SECURE 2.0 rule requiring “catch-up contributions” for high-paid employees to be made on...
by Kenny | Aug 24, 2023
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport QUESTION: Hello! I recently came across one of your articles and decided to reach out to you in hopes of getting some clarification re: the Secure Act 2.0 and distributions as a qualified public...
