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Manufacturing And Distribution Group Newsletter – Summer 2023 - Employee Benefits & Compensation

The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) makes it easier for employees to save for retirement by increasing contribution limits. ....

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RMD Relief and Guidance for 2023-Featuring Darren Oglesby

RMD Relief and Guidance for 2023-Featuring Darren Oglesby
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What Happens When I Inherit an Annuity?

Navigating the often complex world of inherited individual retirement accounts (IRAs) can be daunting, especially in the wake of losing a loved one. It can be even more complicated if you're inheriting an already inherited IRA. Understanding the rules and regulations surrounding inheriting an inherited IRA is crucial to ensure the smooth transition of assets […] The post Inheriting an Inherited IRA: What You Need to Know appeared first on SmartReads by SmartAsset. ....

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Trusts as death beneficiaries of retirement plans

A trust cannot own a retirement account (e.g., an Individual Retirement Plan (“IRA”) or 401(k)) but it can be named as a death beneficiary. Until 2020, individuals receiving distributions from a retirement plan as a death beneficiary, either directly or as a beneficiary of a trust could expect to take annual taxable income distributions stretched out over their own lifetime; the stretch-out provided both tax deferred growth and income tax savings. ....

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Updates on SECURE 2.0, the Employee Retention Credit and the Preventive Services Mandate | Quarles & Brady LLP

The Setting Every Community Up for Retirement Enhancement 2.0 Act of 2022 (SECURE 2.0) was enacted in December 2022 as part of the year-end omnibus spending bill. Even though several. ....

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