IRA BLOG
These are not the opinions or recommendations of Texas Retirement Solutions or Sound Income Strategies LLC, but rather of third party contributors.
After-Tax 401(k) Contributions Shouldn’t Be an Afterthought
By Sarah Brenner, JD Director of Retirement Education With the popularity of Roth 401(k) contributions, after-tax (non-Roth) employee contributions have gotten short shrift. But, if your plan offers them, after-tax contributions are worth considering. They can...
3 Retirement Account Moves You Can Still Do for 2024
By Sarah Brenner, JD Director of Retirement Education The April 15 tax-filing deadline has come and gone. However, for some 2024 retirement account planning strategies, it’s not too late! There is still time beyond the April 15 deadline. Here are three...
Once-Per-Year Rollover Rule and RMD Aggregation: Today’s Slott Report Mailbag
By Andy Ives, CFP®, AIF® IRA Analyst Question: Are rollovers done by a spouse beneficiary subject to the once-per-year IRA rollover rule? The IRA funds were never distributed to me. They were directly transferred from my deceased husband’s IRA to my own IRA....
NUA: “Resetting” Cost Basis
By Andy Ives, CFP®, AIF® IRA Analyst The recent market ride has been nuts. It is certainly no fun for anyone who owns stock or stock funds. Many of us are experiencing the same sensation in our gut as when a roller coaster click, click, clicks to its apex and...
Still Waiting for IRS Guidance on IRA Self-Correction Program
By Ian Berger, JD IRA Analyst In the 2022 SECURE 2.0 legislation, Congress gave the IRS two years – until December 29, 2024 – to come up with rules allowing IRA owners to fix certain mistakes through self-correction. Alas, December 29, 2024 has now come and...
Rollovers and Required minimum Distributions: Today’s Slott Report Mailbag
By Andy Ives, CFP®, AIF® IRA Analyst QUESTION: A 401(k) plan participant over age 73 wants to roll over his account to a new IRA. I understand that he must take a required minimum distribution (RMD) before the rollover. Is an additional RMD required in the same...
Will Market Volatility Mean RMD Waivers for 2025?
By Sarah Brenner, JD Director of Retirement Education Recent turmoil in the markets has hit many retirement savers hard as they see their IRA and 401(k) balances rapidly shrinking. For many, the age-old advice to stay the course for the long term and not cash...
Who Can Use a 10% Penalty Exception?
By Andy Ives, CFP®, AIF® IRA Analyst As a follow up to the March 26 Slott Report entry that included a full list of the 10% early withdrawal penalty exceptions (“10% Penalty Exceptions: IRAs and Plans”), here we get a little deeper into the weeds on some of the...
Deferral of First RMD and RMDs for Roth IRAs: Today’s Slott Report Mailbag
Question: My wife turns 73 years old in August 2025. My understanding is that she has until April 1, 2026, to take her first required minimum distribution (RMD), in which case she would wind up taking two RMDs in 2026. The RMD for 2025 is approximately $24,000. My...
Higher IRA Federal Bankruptcy IRA Protection Limit Became Effective on April 1
By Ian Berger, JD IRA Analyst When you file for bankruptcy, one thing you usually don’t have to worry about is protecting your IRA funds from your bankruptcy creditors. That’s because, in just about every case, all of your IRA (and Roth IRA) monies are off limits....
All written content on this site is for informational purposes only. Opinions expressed herein are solely those of Texas Retirement Solutions and our editorial staff. Material presented is believed to be from reliable sources; however, we make no representations as to its accuracy or completeness. Investing involves risk. There is always the potential of losing money when you invest in securities. Asset allocation, diversification and rebalancing do not ensure a profit or help protect against loss in declining markets. All information and ideas should be discussed in detail with your individual advisor prior to implementation. The presence of this website, and the material contained within, shall in no way be construed or interpreted as a solicitation or recommendation for the purchase or sale of any security or investment strategy. In addition, the presence of this website should not be interpreted as a solicitation for Investment Advisory Services to any residents of states where otherwise legally permitted to conduct business. Fee-based financial planning and Investment Advisory Services are offered by Sound Income Strategies, LLC, an SEC Registered Investment Advisory firm. Texas Retirement Solutions and Sound Income Strategies LLC are not associated entities. © 2020 Sound Income Strategies