FSP Members, the archived video recording is available for two years and can be viewed here in the members only area.
This one-hour discussion will provide an advisor with a guide to assist clients receiving or about to receive a distribution from an IRA. Attendees will gain a working understanding of the conceptual framework when advising IRA owners and beneficiaries. One of the conceptual frameworks is planning to minimize income taxes. The taxpayer, IRA owner, and beneficiaries are generally interested in two basic facets of tax planning: timing and tax rates. This program will provide an overview; IRA owners and beneficiaries must seek competent tax and legal counsel when dealing with this subject.
This presentation will also cover:
- Data released in May 2015 by the EBRI, based on their examination of 25.8 million IRA accounts owned by 20.6 million unique individuals. Combined, these accounts contained $2.46 trillion worth of assets. The data compiled is through year-end 2013. Based on EBRI's research, more individuals held a traditional IRA instead of a Roth, more than likely because of a rollover from a 401(k) or other tax-deferred asset.
- The world of RMDs is complicated, with exceptions and rules for many circumstances, from naming beneficiaries to the treatment of inherited IRAs, and those still employed at 70-½, not to mention tax planning for RMDs.
- It’s important to know when and how much to take to avoid hefty penalties.
Ernie Guerriero, CLU, ChFC, CEBS, CPCU, CPC, CMS, AIF, RICP, CPFA is recognized for his expertise in the retirement planning industry. He has published articles in trade publications, including the Journal of Financial Service Professionals and the New York University Review of Employee Benefits and Executive Compensation; he has appeared on The Wealth Channel; and he is a speaker at professional industry group meetings on qualified plan design for closely held business owners. He has taught for various colleges on employee benefits, and is an adjunct educator for the American College. Ernie currently holds many professional designations and is registered Series 7, 63, and 65. Ernie is on the National Board of the Society of Financial Service Professionals, as well as a member of FSP’s Investment and Audit Committees. He has been the Treasurer for the Hudson Valley Chapter of the Society of Financial Service Professionals since 1988. He is a member of the Core Retirement Committee for AALU and on the Government Affairs Committee for the National Association of Plan Advisors.