Retirement

Thinking About a Roth Conversion This Year?

The low tax environment coupled with market volatility makes Roth Conversions even more appealing this year. The current tax rates are set to sunset after 2025; possibly sooner should there be a change in administration after this election season. Roth IRAs are an important retirement planning tool because not only do they grow tax free, …

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Tapping Retirement Savings During a Financial Crisis

As the number of COVID-19 cases began to skyrocket in March 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The legislation may make it easier for Americans to access money in their retirement plans, temporarily waiving the 10% early-withdrawal penalty and increasing the amount they could borrow. Understanding these new guidelines …

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Department of Labor Announces E-Delivery Final Rule

Amidst the ongoing Coronavirus situation, the Department of Labor announced final rules regarding electronic communications from retirement plan fiduciaries to their participants. These rules are intended to “enhance the effectiveness of ERISA disclosures and significantly reduce the costs and burden associated with furnishing many of the recurring and most costly disclosures.” 1 The most significant …

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Four Questions on the Roth Five-Year Rule

The Roth “five-year rule” typically refers to when you can take tax-free distributions of earnings from your Roth IRA, Roth 401(k), or other work-based Roth account. The rule states that you must wait five years after making your first contribution, and the distribution must take place after age 59½, when you become disabled, or when …

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Mid-Year Is a Good Time to Fine-Tune Your Finances

The first part of 2020 was rocky, but there should be better days ahead. Taking a close look at your finances may give you the foundation you need to begin moving forward. Mid-year is an ideal time to do so, because the planning opportunities are potentially greater than if you waited until the end of …

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