The recent enactment of SECURE 2.0 has set the financial and wealth planning industry abuzz with its significant changes and sales opportunities. Yet, with these opportunities comes the challenge of mastering the new rules and regulations introduced in the legislation. Bob Keebler's exclusive Western CPE Webcast is the solution for financial and wealth planners seeking to navigate these changes effectively.
In this webcast, Bob Keebler, a seasoned expert, will guide you through the updated RMD rules, including the increase in age to 75, and the modifications to rules regarding retirement accounts. You will gain a deep understanding of new provisions for qualified birth or adoption distributions, surviving spouses, and Roth 401(k) plans. Additionally, the CPE online course will cover changes to the 10% excise tax and withdrawal opportunities for qualified disasters and emergency expenses, along with insights into inflation adjustments for catch-contributions.
Learning Objectives
Upon completion of this course, participants will be able to:
Identify updated RMD rules, including increase in age to 75;
Describe modifications of rules involved with retirement accounts;
Identify new provisions for qualified birth or adoption distributions, surviving spouses, and Roth 401(k) plans;
Understand changes to the 10% excise tax;
Describe withdrawal opportunities for qualified disasters and emergency expenses; and
Understand inflation adjustments for catch-contributions.
Major Topics
Catch-up contribution adjustments for taxpayers aged 60-63
Transfer of 529 plans to Roth IRAs
Inflation adjustments for catch-contributions
Expanded savers matches
Removal of the 25% qualified life annuity limitation
An increase in the QLAC limitation to $200,000
A special provision for qualified birth or adoption distribution
Modifications to the statute of limitations for excess contributions
Penalty-free withdrawals from retirement plans in the case of domestic abuse
Retroactive first-year elective deferrals for sole proprietors
Modification of the treatment of IRAs involved in prohibited transactions
Important clarifications of the 10% excise tax when transfers are made to an IRC Section 72(t) SEPP plan
Instructions for the Treasury to issue legislative regulations on rollovers by January 1, 2025
Special provisions that Roth 401(k) plans will no longer be subject to the RMD rules
A new exception to the 10% penalty under early distributions from qualified plans for individuals with a terminal illness
Provisions that will allow a surviving spouse to elect to be treated as the employee of a qualified plan participant. This is an especially important provision for asset protection purposes in that the surviving spouse would seemingly be protected by ERISA
Changes in the exemption for early withdrawals for the age 50 rule to age 50 or 25 years of service
Special rules for the use of retirement funds in connection with qualified disasters
Elimination of the 10% excise tax on corrective distributions of excess contributions
Treatment of student loans as elective deferrals for purposes of matching contributions
Modification of the rules providing for withdrawals for emergency expenses
New provision allowing for non-elective contributions to SIMPLE plans
A reduction in the late RMD excise tax from 50% to 25%
A one-time election for qualified charitable contributions to charitable remainder trusts
An important modification of the RMD Rules for special needs trusts apparently addressing the concern in the SECURE Regulations regarding Medicaid repayment provisions under state law
