Just like Sergio Leone’s classic 1966 movie, 2006 will indeed be memorable. And so with apologies to Mr. Leone and Clint Eastwood, here are my 2006 choices for the Good, the Bad, and the Ugly in Pensionland: The Good: The passage of the Pension Protection Act of 2006 (PPA). The new law makes significant changes … Continue Reading
Individual Retirement Accounts have become an increasing important tool for retirement savings and tax planning, one of which is the charitable IRA rollover enacted as part of the Pension Protection Act of 2006. It’s one of those niche tax laws that only apply to a few taxpayers. And it has a very short shelf life … Continue Reading
A few months ago, I wrote about promoters fishing for retirement plan dollars. I talked about the call of early retirement for the Boomers and retirement plan provisions that permit in-service distributions – all factors that are apparently attracting promoters to get at that cash. The NASD concerned about this danger to retirement plan participants … Continue Reading
From its humble beginning in 1974 as part of the Employee Retirement Income Security Act of (ERISA), the Individual Retirement Account along with cousins Roth, SEP, and SIMPLE, has grown up. It’s now an increasingly important investment vehicle for retirement savings and tax planning. And it will become even more so as the Boomers start … Continue Reading
The recently passed tax law, the Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA), eliminates the $100,000 modified adjusted gross income ceiling and the joint filing requirement for married individuals for converting a traditional IRA to a Roth IRA for tax years after 2009. While a conversion is treated as a taxable distribution, it … Continue Reading
