posts by Clint - 2/4 - Beacon Hill Investment Advisory, LLC

DOL Attempts to change who must act as a Fiduciary

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Executive Summary The Department of Labor has proposed an amendment to redefine and expand who must act as fiduciaries in the retirement plan space and those who give advice for Individual Retirement Accounts. A fiduciary has a legal obligation to act in the best interest of their client. Specifically, they must act with the “care, …

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Market Commentary

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Global markets were generally down in August. While we tend to shy away from creating the narrative of “why” markets do what they do, it’s pretty clear that market participants are worrying about the Federal Reserve’s interest rate increase (September or December) and how the global players will deal with China’s slowing economy. For August, …

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Tax Form Status Update

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Here are some forms you should expect to see related to your investment accounts: Form 1099-R (reporting IRA distributions), 5498 (reporting contributions, rollovers and conversion rollovers made prior to 1/01/2013, fair market value, and Required Minimum Distribution (RMD)), and Form 1099-Q (reporting Coverdell ESA distributions) are mailed by Jan. 31. Composite 1099s are mailed by Feb. 15. …

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401(k) Corner: LAST DISCLOSURE FOR 404(a)!

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At this point you’ve already conducted and disseminated your participant disclosures for your 401(k)/403(b) Plan that were required under ERISA section 404(a) (general information and a comparative chart of any Designated Investment Alternatives).  This quarter, “participants must receive statement… showing the dollar amount of the plan-related fees and expenses (whether “administrative” or “individual”) actually charged …

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401(k) Corner: Roth 401(k)…is it right for you?

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While taxes are fresh on your mind, now might be the best time to review whether you should contribute to your 401(k) with pre-tax or after-tax money.   Contributions that are put back before-taxes are the Traditional 401(k), while those that are put back after-taxes are the Roth 401(k). Your tax planner can help you in …

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