Distributions From IRAs and Qualified Retirement Plans and Changes Made by SECURE and SECURE 2.0 2 Credits
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Qualified retirement plans offer many benefits, some financial and others creating employee satisfaction and loyalty. Â
After several years of accumulating these tax-deferred benefits, certainly at retirement, and sometimes early, employees want access to the accumulated funds. Â Depending on the purpose of the funds, e.g., a needed loan to make repairs on the employee's home, and the timing of the distribution, there may be significant penalties levied on those distributions. Â
With the passing of SECURE and SECURE 2.0, several new triggers have been provided for attendees to take "in-service" distributions free of any penalties.  All of these distribution alternatives have specific rules that must be followed to avoid the early distribution penalties if distributed before age 59½, all of which will be reviewed in this CE Tax webinar with examples where appropriate.Â
As would be expected allowable distributions vary between IRAs, which are not qualified plans but exist due to IRC §408, while qualified plans are governed by IRC §401(a).  In most cases, the rules for IRAs and IRA-related plans like SIMPLE IRAs, SEP IRAs, and Roth IRAs, are more restrictive since there is limited oversight as compared to qualified plans.
Key topics covered in this course are:
Join this course to understand all guidelines relating to retirement plans, the rules and regulations that are sometimes confusing and complex, and always changing as seen in the SECURE Act passed in 2019 followed by SECURE 2.0 passed only three years later in 2022.
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Stephen Abramson is the President and founding partner of APS Pension & Financial Services established in 1977, a mid-size consulting and actuarial firm employing twenty-two professional and support staff specializing in pension and pension-related services. For over 40 years, APS has been providing closely held businesses with financial services including pension design and administration, business succession planning, and wealth preservation planning. In 2015 APS Investment Management was established to provide fiduciary services to 401(k) and 403(b) plans and in 2018 APS Wealth Management, a Registered Investment Advisor (RIA), was established to provide investment management services to individual clients and retirement plans replacing his previous relationship with a Broker/Dealer. Steve has taught professional level education programs for the American Society of Pension Actuaries; lectured to various professional groups, including the National Conference of CPA Practitioners, The NYS Society of CPAs, Nassau Bar Association, the C.W. Post Tax Institute, and the National Institute of Pension Administrators; and conducted continuing education seminars for Certified Public Accountants for the past 35 years. He is co-author of Plan Smart, Retire Rich published by McGraw Hill in 1998; author of Advisor’s Guide to Qualified Plans originally published by Aspen Publishing in March, 2002 and recently in the process of being updated with the 8th edition, and Retirement Financial Management for Clients Approaching Retirement published by Aspen Publishing in August, 2002. A less technical version of Advisor’s Guide to Qualified Plans entitled Guide to Qualified Retirement Plans: A Plain Language Primer was published by the International Association of Employee Benefits in March 2005. The second edition of this book was released in 2008.
Steve graduated from Cornell University in 1964, earned the designation of Chartered Life Underwriter in 1967 from the American College, Certified Pension Consultant in 1970 from the American Society of Pension Professionals and Actuaries and Chartered Financial Consultant from the American College in 1972.
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AB
I don’t believe one of my answers was wrong even though it was graded wrong. But I passed so it’s a non-issue I’ll confirm the information for my knowledge. This webinar was very good with lots of information
JA
Very thorough given the time format. Instructor efectively outlined changes in halndling currrent distributions from previous rules. The handouts were helpful also.
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