…led to concerns that since the banks are not currently lending these funds to businesses, that once these once these funds are released, this will cause inflation. Another potential risk from the Fed’s balance sheet is a rise in interest rates creating losses in the…
…to review and potentially change any funds that are QDIAs. So what should you be doing now? Review your current investment selection and determine whether or not your plan contains any investment funds that have been selected based on non-pecuniary factors. Action will need to…
…receive tax-deductible charitable contributions. In cases where an individual has made nondeductible contributions to his or her traditional IRA, a special rule treats amounts distributed to charities as coming first from taxable funds, instead of proportionately from taxable and nontaxable funds, as would be the…
…target, but the longer term fear is that Federal deficits, an eventual economic recovery or supply chain issues (such as higher food prices from shortages) could cause the Fed to pull back their support for fear of exceeding its inflation target. For example, when the…
…turn 72 in 2023 (those born in 1951) do not have an RMD due this year. Instead, they will need to start taking RMDs when they reach age 73 in 2024 no later than by their required beginning date (RBD) of April 1, 2025. Similarly,…
…here. The agency also outlined new procedures, higher thresholds and more flexibility for plan sponsors and those working to correct plan failures, such as: Effective date for changes is July 16, 2021 (some provisions have later effective dates). Public comments requested by October 14, 2021….
…each month, they won’t be able to contribute to even the best-designed plan. You know as a wealth management advisor just how important debt management, credit card responsibility, and emergency funds are to a stable financial future, and at the same time, you’re aware of…
…the full range of asset classes, putting one of every five dollars in alternative asset classes like private equity. A recent Georgetown study estimated that 401(k) plans diversified with a modest allocation to alternative asset classes including private equity, hedge funds, and real estate, would…
…for investment losses related to contributions made on behalf of participants who failed to make their own investment choices. Under the regs, a QDIA can be either a target date fund, a balanced fund or a professionally managed account. It’s important to note that the…
…and dates of birth but also banking details — it is no surprise that cyberattacks are on the rise in our industry. It should also hardly come as news that many plan sponsors and fiduciaries have for some time regularly been targets of any number…
…pay down burdensome debt.” The senator goes on to maintain that using those pre-tax funds to make student loan payments will both allow a quicker loan payoff and a lowering of those persons’ taxes: Paul goes on to say that the HELPER Act would even…
…funds could otherwise be accruing, even for a short time. Yes, we are talking about “only” a maximum of $1,000 here, but as the mantra goes, every dollar counts. There is also the extra administrative complexity that will be derived from the bill’s enactment. Keeping…