Regulations

Recently, Tim Walberg (R-MI) and Gregorio Kilili Camacho Sablan (D-N. Marianas) proposed the Retirement Plan Modernization Act  which would affect terminated employees in full-time employer 401k plans in that the employer could automatically transfer their 401k funds to an IRA (this is known as an automatic IRA rollover) if the balance of their 401k funds is $8,000 or […]

Recently, the SEC’s Office of Compliance Inspections and Examinations (OCIE) released the 2020 Examination Priorities Program for examining those RIAs that have not previously been examined. The OCIE plans to emphasize the protection of senior retail investors and those saving for retirement. Examinations will focus on recommendations and advice given to retail investors, with a particular […]

While it is only a proposed bill and it would need to be approved by both the House and Senate before passing, Sen. Rand Paul (R-KY) is proposing in the Higher Education Loan Payment and Enhanced Retirement (HELPER) Act to allow for distributions from IRAs and qualified plans such as solo 401k plans to pay for qualified education […]

IRS Memorandum AM 2019-002 highlights the importance of executing retirement plan documents for ROBS 401k plans and self-directed solo 401k plans as well as using the plan services of a solo 401k plan document or ROBS 401k Plan document provider that will also act as the plan document record-keeper. Here is a quick summary of […]

The passage of the SECURE ACT on December 20, 2019 as part of the government’s spending bill (Further Consolidated Appropriations Act, 2020), will largely impact how much taxes non-spouse beneficiaries of solo 401k plan and IRAs will have to pay. Prior to the passage of the SECURE ACT, non-spouse beneficiaries could distribute funds inherited from […]

Recently, on December 11, 2019 Senator Warren wrote a letter to the  Department of Labor (DOL) to caution them not to permit advisers to provide advice regarding retirement investments  because of potential conflicts of interest when the DOL rewrites the fiduciary rules.  The previously written fiduciary rule by the DOL was in April 2016 but […]

  The SECURE ACT ended up passing when President Trump signed it into law as part of the government’s spending bill.  VISIT HERE, to learn the about the impact the SECURE ACT will have on solo 401k plans, IRAs and ROBS 401k plans. Time is ticking for the SECURE  ACT to pass in 2019.  While the […]

Unlike a 401k plan such as a solo 401k plan for the self-employed with not full-time W-2 employees where the trustee is viewed as the shareholder, the SEC sees the 403b participant as the shareholder.  According to  a Wall Stree Journal article, the SEC agency is seeking details on how administrators—which often serve crucial roles in […]

Here is a quick guide to help you understand the new once-per-year rollover rule and how it affects your IRA rollover plans. Don’t process an IRA rollover IF: You already made one tax-free rollover from an IRA to another (or the same) IRA within the last 12 months. Key Items: The once-per year rule means […]