MyRA Forced into Early Retirement

    August 10, 2017 12:30 PM by Brian Dobbis

    Economics trumped the original intent of helping low- to middle-income savers. So, now, a Roth IRA is the only rollover option.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    On July 28, the U.S. Treasury Department announced plans to end the Obama administration’s myRA program, less than two years after it started, in late 2015.  

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    Obamacare Surtax Is Likely to Survive

    August 4, 2017 11:58 AM by Brian Dobbis

    So be sure to revisit ways to mitigate the impact of that 3.8% levy on investment income.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    In case you missed it, while the Republican-led Senate repeatedly failed its attempts to repeal the Affordable Care Act (ACA), there came news—surprising to some—that the Senate wants to retain the 3.8% net investment income (NII) surtax.

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    Will Tax Reform Help the “Gig” Economy?

    July 27, 2017 4:52 PM by Brian Dobbis

    Any freelancer will tell you nothing concentrates the mind like living on the edge. But many remain ill prepared for retirement.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    Lost in the debate over healthcare reform is the growing conundrum of retirement planning, especially when it comes to the so-called gig economy—a term that wasn’t even in the lexicon the last time Congress passed major tax reform in 1986.  Sure, globalization, automation, and suboptimal trade policies have cost America millions of jobs. But factor in industry consolidation, financial engineering, and downsizing, and the gig economy now has 40 million part-time, contingent, or freelance workers (or 25% of the labor force), according to the U.S. Bureau of Labor Statistics.

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    Why Trusteed IRAs Are Becoming More Popular

    July 20, 2017 12:30 PM by Brian Dobbis

    If you want to control payouts to your heirs and avoid the time expense of setting up a trust, consider this simpler option.

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    When it comes to naming a beneficiary, IRA owners have a lot of discretion on how their nest egg is divided up when they’re gone. The beneficiary can be a person. It can be an estate, charity, or trust, or it can be a combination of those options.

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    Don’t Forget Upcoming ERISA-Filing Deadline

    July 14, 2017 2:20 PM by Brian Dobbis

    Qualified retirement plans on a calendar year must file Form 5500 by July 31, unless an extension is requested. Beware of late-filing penalties.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    Every year, qualified retirement plans subject to the Employee Retirement Income Security Act (ERISA) must navigate through countless filing deadlines—and Form 5500, “Series Annual Return/Report of Employee Benefit Plan,” is no exception.  

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    Putting Precious Metals in an IRA

    July 7, 2017 4:40 PM by Brian Dobbis

    More investors have taken a shine to investing in gold and silver in their retirement accounts. But there are a number of potential drawbacks to be aware of.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    During the July 4th weekend, I received an e-mail promoting the purported benefits of investing in precious metals, such as gold and silver. Ads promoting investing in precious metals are fairly common—but this one touted their potential role in an IRA. Without much fanfare, precious metals have become more common investments in tax-advantaged accounts during the last decade. However, this type of investing is not for all investors.

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    IRAs: More FAQs about RMDs

    June 23, 2017 11:55 AM by Brian Dobbis

    Insights on estates as beneficiaries, how RMDs are calculated after annuitization, and minimum Roth 401(k) distributions

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    The more I meet with financial advisors, the more I’m asked about required minimum distributions (RMDs) from IRAs. As I’ve explained in prior blogs, RMDs are a highly specialized area of retirement planning, and due care should be taken to familiarize oneself with the maze of rules that apply. The consequences for missing an RMD are severe: a 50% penalty surtax assessed on the amount of the RMD that should have been taken. So with that penalty in mind, here are some recurring questions and answers you might want to file for future reference.

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    ERISA Fidelity Bond versus Fiduciary Liability Insurance: What’s the Difference?

    June 15, 2017 4:40 PM by Brian Dobbis

    Plan sponsors often confuse the bond with insurance that is designed to protect them from personal liability.

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    With so much attention to fiduciary responsibility in the past year—not to mention increased litigation and tighter regulation—plan sponsors have every reason to explore their insurance options. But there tends to be a lot of confusion, misperception, and misconception about the right course of action.

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    Retirement: Update on State-Run IRAs

    June 8, 2017 4:10 PM by Brian Dobbis

    Programs that already have been established could face stiff headwinds from Washington.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    With thousands of baby boomers turning 65 every day, insufficient savings rates among all Americans, and doubts about the future sustainability of Social Security, much has been written about an approaching “retirement crisis.” We think, in terms of clarity, that additional perspective is in order.

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    The Looming Retirement Plan Coverage Gap

    June 2, 2017 4:05 PM by Brian Dobbis

    Can multiple employer plans help more Americans save for their golden years?

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    According to AARP (formerly, the American Association of Retired Persons), there are roughly 55 million private sector workers in the United States without access to an employer-sponsored retirement plan. Americans accumulate the vast majority of their retirement funds through employer-sponsored defined contribution (DC) plans, which currently comprise $7 trillion in assets, with the most well-known and popular being 401(k)s ($4.8 trillion).

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