Individual Retirement Account

News & Analysis as of

Your Daily Dose of Financial News

Ratings Agency Moody’s Corp. has agreed to pay roughly $864 million to resolve federal and state claims that it gave juiced ratings to risky MBS in the run-up to the financial crisis. Half of the total will end up in DOJ...more

Part II: Naming an Accumulation Trust as the Beneficiary of an IRA

Last month we discussed the benefits of naming a Conduit Trust as the beneficiary of an IRA. A Conduit Trust allows the IRA to remain tax deferred thereby stretching the Required Minimum Distributions over the lifetime of...more

A Poet's Guide to Employee Benefits Law - 2017 Edition

The employee benefits world, with all its legal rules and regulations, is viewed by human resources people, financial people, and for that matter most lawyers, as forbidding territory - the "darkest forest" from the Wizard of...more

Stretch IRAs to be Hit?

Presently, if an IRA owner does not fully withdraw the balance of his IRA during lifetime, his or her heirs may be able to spread the withdrawal of the inherited IRA over the life expectancy of the recipient. By being able to...more

SEC Staff Smooths the Way for DOL Fiduciary Rule Compliance

The SEC’s Division of Investment Management released a Guidance Update on December 19, 2016, addressing certain procedural issues that have arisen in connection with the so-called “Fiduciary Rules” adopted by the U.S....more

Estate Planning Newsletter - December 2016

Hinshaw’s Estate Planning Newsletter includes reports on opportunities and challenges that may impact your estate plan. This publication is designed to keep our clients and friends aware of certain opportunities and...more

Chris Lazarini Examines Genuine Issue of Material Fact Standard

Bass, Berry & Sims attorney Chris Lazarini continues to examine an ongoing case questioning the validity of an arbitration agreement. Read Chris' earlier analysis here. In this most recent installment challenging the...more

Consider the effect that required minimum distributions from your 401(k) Plan will have on your taxable income and you're retiring...

Are you age 70 1/2 or older and thinking about retiring in December or January? You may want to consider the effect that required minimum distributions from your 401(k) Plan will have on your taxable income. As a...more

Has the Fiduciary Worm Turned? Freedom Caucus Targets the New ERISA "Investment Advice" Regulation

The U.S. Department of Labor issued its long-awaited and highly controversial "investment advice" regulation under ERISA's fiduciary rules on April 6, 2016. The regulation is slated to begin becoming applicable in April 2017....more

The Tax Advantages of Naming a Conduit Trust as the Beneficiary of an IRA

IRA’s can represent a large portion of an individual’s retirement assets. For this reason, care should be taken to ensure these assets receive the best tax treatment and are protected from creditors such as divorcing spouses....more

Advisors Advantage - December 2016

A "Crystal Ball" On Life After The New ERISA Fiduciary Rule. We can see the future if we look closely enough. The Department of Labor's (DOL) new fiduciary rule that is going to go in effect in April 2017 is going...more

Personal Planning Strategies - December 2016

2017 Estate, Gift and GST Tax Update: What This Means for Your Current Will, Revocable Trust and Estate Plan - As we previously reported, the American Taxpayer Relief Act of 2012 (the "Act") made the following permanent:...more

Holiday Horror Series: Part 2- Hectic Holiday Rollovers

With the holidays upon us, we all can relate to how easy it is to mistakenly overlook important things amidst the cheery holiday hustle and bustle: leaving the Christmas ham in the oven a few hours too long, forgetting to...more

The Battle Over the New Fiduciary Rule

On April 6, 2016, the U.S. Department of Labor (“DOL”) issued its final rule expanding the definition of the “investment advice fiduciary” under the Employee Retirement Income Security Act of 1974 (“ERISA”) and modifying the...more

Chris Lazarini Analyzes Right to Jury Under Section 4 of Federal Arbitration Act

Bass, Berry & Sims Chris Lazarini analyzed a case outlining when a party is entitled to have a jury decide issues related to the making or enforceability of an arbitration agreement. ...more

New Retirement Requirements for California Employers

Starting Jan. 1, 2017, the California Secure Choice Retirement Savings Program (Senate Bill 1234) will begin the development and build-out of a program to require employers who do not already offer a tax-qualified retirement...more

2016 Year-End Estate Planning Advisory

In 2016, we continued to experience a period of relative stability in our federal transfer tax system and have been able to plan without expecting imminent significant changes to the system. Under the American Taxpayer Relief...more

DOL Issues (Some) Additional Guidance on the Fiduciary Investment Advice Rule and Best Interest Contract Exemption

The US Department of Labor (DOL) has issued its first set of FAQs under the fiduciary investment advice rule (the “Rule”) and related prohibited transaction exemptions. In general, the Rule provides that parties providing...more

DOL Prevails In First Challenge to the Conflict of Interest Rule and Related Exemptions

On November 4, 2016, Judge Moss in the U.S. District Court for the District of Columbia granted the U.S. Department of Labor’s motion for summary judgment and dismissed claims brought by the National Association for Fixed...more

It’s time to look at your books of business

Broker-dealers are certainly in a bind to comply with the new Fiduciary Rule and one aspect is sending disclosures to IRAs and qualified plans. This may be a good time for all type of plan providers such as brokers,...more

T&E Litigation Newsletter - November 2016

There has not been much case law of particular relevance in the T&E area since our last newsletter, but three recent federal court decisions—one from the First Circuit Court of Appeals, and two from the United States District...more

California’s New State Sponsored Retirement Program to Debut Soon: California Employers Blog

In September 2016, the California legislature amended the California Secure Choice Savings Trust Act of 2012 (“Secure Choice”). This law will eventually require employers with at least five employees, and which do not offer...more

The Changing Fiduciary Duty Landscape in a Trump Presidency

The fiduciary standards for institutions and individuals providing investment advice throughout the retail investment and municipal securities markets are currently undergoing significant change. Following on the heels of the...more

McNees Insights Newsletter – Estate Planning: November 2016

IRS Simplifies Rules for Correcting Late Rollovers - On August 24, 2016, the Internal Revenue Service (the “IRS”) issued Revenue Procedure 2016-47, which greatly simplifies the procedure for correcting late rollover...more

The Impending Death of the Stretch IRA?

It can, at times, seem like a fool’s errand to focus too closely on specific provisions contained in proposed legislation. As any casual observer of Congress can attest, committee proposals frequently die unenacted or undergo...more

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