RMD RULES FOR IRA BENEFICIARIES: TODAY’S SLOTT REPORT MAILBAG

By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Question: Hi, My last remaining parent, my mother, passed away in May 2017, and my younger brother and I inherited her IRA (equally split into inherited IRA accounts). We were of the understanding we could...

ARE 529-TO-ROTH IRA ROLLOVERS SUBJECT TO STATE TAX?

By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Previous Slott Report articles have covered the new SECURE 2.0 provision allowing 529 funds to be rolled over to Roth IRAs. We’ve reported that there are several unanswered questions concerning this new...

WHAT IS RETIREMENT? FANTASY VS. REALITY

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport   Three times a week, every week, we add to the Slott Report. Two article entries and a mailbag. All factual, measurable information. “This is what to consider when you name a trust as your...

HOW SECURE 2.0 IMPACTS COMPANY PLAN IN-SERVICE WITHDRAWALS

By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Retirement plan funds are designed for retirement, but Congress continues to make it easier for employees to pull out those funds while still working. The SECURE 2.0 law adds several new in-service...

A WAY TO JUMP-START 529-TO-ROTH ROLLOVERS

By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport We have covered in The Slott Report the new SECURE 2.0 provision that allows unused 529 plan funds to be rolled over to Roth IRAs. It originally appeared that this new rule was to be effective for 2024....

BACK-DOOR ROTH IRAS AND ROTH 401KS: TODAY’S SLOTT REPORT MAILBAG

By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport Question: Hi Can we contribute backdoor Roth IRA money to my husband’s Roth IRA since I have existing traditional IRA accounts, but my husband has none? Thank you very much for...

LAST WEEK IN LA JOLLA

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport Last week in La Jolla, California, the Ed Slott team hosted another incredibly successful 2-day advisor training program. Nearly 200 financial professionals from across the country chose to join us...

MORE 401(K) SECURE 2.0 CHANGES ALREADY IN EFFECT – AND ON THE WAY

By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport By now, you probably know that a number of SECURE 2.0 provisions pertaining to 401(k) (and other company savings plans) became effective this year. We’ve already discussed two of them in The Slott Report....

ROTH CONVERSIONS AND INHERITED IRAS: TODAY’S SLOTT REPORT MAILBAG

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport QUESTION: If an individual has both an IRA and a 401(k) and wants to convert the IRA to a Roth IRA, does he have to take both the IRA and the 401(k) RMD (required minimum distribution) before doing a...

GHOST VS. 5-YEAR: THE CALENDAR DICTATES

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport Ever since the SECURE Act created a 10-year payout rule for most IRA beneficiaries, that topic has garnered the bulk of conversation. This is understandable. Not only was the 10-year rule a brand-new...

Weekly Market Commentary

By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport We’re getting lots of questions about the SECURE 2.0 change that allows annuitized IRA annuities to be aggregated with non-annuity IRA funds for required minimum distribution (RMD) purposes. This change...

529 PLANS AND INHERITED IRAS: TODAY’S SLOTT REPORT MAILBAG

Question: I have two questions regarding the 15-year requirement that applies to new rules allowing rollovers from 529 plans to Roth IRAs. If you change beneficiaries, will it reset the 15-year clock? Secondly, if you roll your 529 plan into another 529 plan (say...

ROTH IRA FOR A TEENAGER – AN ASTRONOMICAL RESULT?

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport   The mailman delivered my son’s 2023 W-2 the other day. I was curious what he earned last year as a lifeguard at our community pool, so I opened the envelope. Box 1, “Wages, tips, other...