Category Archives: Uncategorized

The Secure Act and the 10-Year Rule

July 2022 – By Tom C. Rueger, J.D., CFP®

Before the Secure Act was passed in December 2019, most non-spouse beneficiaries of an inherited IRA could “stretch” the period to take distributions from the inherited IRA based on the beneficiaries life expectancy. This was desirable because the beneficiary could usually defer withdrawing the bulk of the funds thereby deferring the bulk of the tax liability as well.

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Special Needs Trusts

June 2022 – By Tom C. Rueger, J.D., CFP®

A recipient of Supplemental Security Income (SSI) is eligible to receive a monthly benefit when the Social Security Administration (SSA) determines that the recipient’s “income and resources” fall below certain limits. Funds held in certain kinds of Trusts (Special Needs Trusts) can be used to supplement, but not replace, the basic support that Medicare and SSI can provide to a special needs person. If drafted properly, funds in a Special Needs Trust can be specifically excluded from consideration of the “income and resources” limit that determines the eligibility for SSI, thereby allowing a special needs person to receive Medicare and/or a monthly SSI benefit. In other words, a Special Needs Trust is a method to shelter assets to ensure that government support is not lost or forfeited.

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Secure Act 2.0 & Potential Changes

April 2022 – Ryan Boyle, CRPC®

As of March 30, 2022, the Senate has begun to review the Securing a Strong Retirement Act of 2022, which calls for multiple improvements revolving around saving for retirement.  The draft as of now calls for increases in catch up provisions in retirement accounts based off costs of living, increases based off inflation for qualified charitable distributions, reducing the excise tax imposed on those who miss their required minimum distributions, delaying the starting age for required minimum distributions, and other benefits pertaining to employer-sponsored retirement plans.

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Oil Shock?  Not So Much

March 2022 – By Bob Veres

If there is one significant fallout that most economists expect to land on American consumers as a result of the war in Ukraine, it is higher gas prices.  Prices tend to reflect supply and demand, and if there are sanctions on Russia’s ability to export oil, that will reduce supply without any anticipated change in demand.  It is estimated that roughly 2.3 million barrels a day of Russia’s 4.6 million output flows to Western nations.

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