retirement

Catch-up contributions allow people age 50 and older to turbo-charge their retirement savings. Account holders should be aware that recent legislation has changed the federal income tax rules for making catch-up contributions to employer-sponsored retirement plans. The good news is that the changes won't go into effect until January 1, 2026. Here are the details.

The federal tax rules for retirement account required minimum distributions (RMDs) are confusing and can lead to expensive tax penalties if they're not followed. Here's an overview of the rules and how they've changed under the Setting Every Community Up for Retirement Enhancement (SECURE) Act and the subsequent SECURE 2.0 law, as well as recent IRS guidance

On December 29, President Biden signed the omnibus spending bill, which includes the long-awaited Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0). Among many other provisions, this new law includes five major taxpayer friendly changes that may help you save for retirement. Here are the details.