Recent News and Updates
Blog posts tagged with "ira"
You have until Monday, August 31, 2020, to re-contribute any 2020 required minimum distributions from your IRA or 401(k) back to your retirement account if you wish to defer taking the 2020 distribution.
This afternoon, the Coronavirus Aid, Relief and Economic Security (CARES) Act passed the House of Representatives by voice vote, with a formal signature by the President expected imminently. We address some of the key takeaways regarding retirement and health and welfare plans below. The most urgent item added by the CARES Act is likely to be the $100,000 distribution option from retirement plans.
If you have designated a trust as your retirement plan (including IRAs) beneficiary, please contact your Critchfield attorney to have your trust reviewed for compatibility with the new Secure Act provisions.