As published in Steve Leimberg’s Asset Protection Planning Newsletter on 7/7/14.
Reproduced Courtesy of Leimberg Information Services, Inc. (LISI) at https://www.leimbergservices.com.
“The Supreme Court recently ruled in Clark v. Rameker that inherited IRAs are not retirement funds for purposes of the federal bankruptcy statute. The effect of the ruling is to allow bankruptcy...Read More
On December 23, 2008 the “Worker, Retiree, and Employer Recovery Act of 2008” was signed into law by President Bush. One key provision of the Act temporarily suspends the requirement for taxpayers age 70 ½ and older (and their beneficiaries) to make annual minimum required distributions (MRDs) from their retirement plan accounts.
The Internal Revenue Code normally requires...Read More
The Supreme Court of the United States recently issued a decision in the case of Larue v. DeWolff, Boberg & Associates that could have a drastic impact on fiduciaries of qualified retirement plans subject to the Employee Retirement Income Security Act (ERISA).
Plaintiff, James Larue, a former employee of the management consulting firm of DeWolff, Boberg & Associates, brought...Read More
The Pension Protection Act (PPA) §829 created a way for non-spouse beneficiaries to stretch their retirement benefits. In the past, only spouse beneficiaries could directly roll over a retirement account. A non-spouse beneficiary had to take the distribution, and pay income tax on the distributions, from the retirement account within 5 years of the date of death of the account owner. Effective...Read More