Events Calendar

2019 IRA Essentials & Advanced Workshops
From Tuesday, September 24, 2019 -  09:00am
To Wednesday, September 25, 2019 - 04:30pm

IRAEssentials 19

Retirement savings is no joke, and neither are our two-day IRA Workshops. These informative sessions will provide you with everything you need to help guide your members through their retirement savings journey!
Attendees will cover IRA Essentials on day one, and explore more complex IRA Advanced topics on day two. Join the Association for one or both days!

IRA Essentials

IRA Essentials gives attendees a solid foundation of IRA knowledge. Exercises are included throughout the day to help participants apply information to job-related situations. Attendees will leave this session able to work with IRA owners and process basic IRA transactions with confidence. This is a beginner’s session; no previous IRA knowledge is assumed. Attendees should bring a hand-held calculator.

Introduction and Establishing IRAs

  • Identify the tax differences of a Traditional and Roth IRA
  • Examine the process for establishing an IRA and the required documents
  • Differentiate between the types of beneficiaries

IRA Funding

  • Learn about the Traditional and Roth IRA eligibility requirements
  • Identify the contribution limit and deadline
  • Communicate contribution reporting deadlines

IRA Distributions

  • Identify federal income tax withholding requirements
  • Examine IRS penalties and penalty exceptions
  • Summarize the tax consequences of IRA distributions
  • Communicate distribution reporting deadlines

IRA Portability

  • Differentiate between a rollover and a transfer
  • Recognize rollovers between IRAs and employer- sponsored retirement plans








Advanced IRAs

Advanced IRAs builds on the attendees’ basic IRA knowledge to address some of the more complex IRA issues that their financial organizations may handle. This is an advanced session; previous IRA knowledge is assumed. The instructor uses real-world exercises to help participants apply information to job-related situations.

IRA Update

  • Explain recent changes affecting IRA owners
  • Discuss the current Roth modified adjusted gross income (MAGI) limits
  • Recognize how recent changes may affect your financial organization

Required Minimum Distributions

  • Calculate a required minimum distribution (RMD)
  • Discuss the RMD rules and reporting requirements

Beneficiary Options

  • Describe beneficiary distribution options
  • Recognize the differences for spouse, nonspouse, and nonperson beneficiaries
  • Explain beneficiary payment deadlines

Advanced Portability

  • Summarize the restrictions on the movement between IRAs
  • Recognize the options available when moving from an employer-sponsored retirement plan to an IRA
  • Explain the result of violating the portability restrictions

Roth IRA Conversion Contributions

  • Describe a conversion
  • Explain the effect of withholding on a conversion
  • Report a conversion
  • Define the consequences of an ineligible conversion

Withholding and Getting It Right

  • List the possible penalties for failing to withhold
  • Explain the withholding notice and election requirements
  • Discuss how withholding is reported and transmitted to the IRS
  • Describe foreign withholding requirements

New York Credit Union Association
1021 Watervliet-Shaker Road
Albany, NY  12205

Suggested Hotels:

Educational Investment:

  • Member Credit Unions
    • Full Conference: $449
    • Daily Registration: $250
  • Non-Affiliate Credit Unions
    • Full Conference: $549

Registration Deadline:  September 6, 2019

Featured Presenter:

TorkelsonStacy Torkelson is a Consultant with the Ascensus ERISA Compliance Department.  As a Consultant, she assists clients with technical compliance questions through Ascensus' 800 Consulting Service.  She also instructs Ascensus' webinars and various Ascensus-sponsored seminars nationwide.  Her expertise includes Traditional and Roth IRAs, Coverdell education savings accounts, health savings accounts, and various employer-sponsored retirement plans, such as 401(k) plans, 403(b) plans, SEP plans, and SIMPLE IRA plans.

Ms. Torkelson holds a Bachelor of Arts degree in marketing from the University of St. Thomas in St. Paul , MN and a postgraduate diploma in legal practice from the College of Law in London, United Kingdom.  She has earned the designation of Certified IRA Professional (CIP) from the Institute of Certified Bankers.

Cancellation Policy:

A refund of the amount paid, less an $90 administrative fee per registrant, will be given for all cancellations submitted via email to ten or more business days prior to the start of the session. No refunds will be granted if the cancellation is received after that time frame. Substitutes will be accepted any time prior to the start of the program at no additional cost. Simply email an updated registration form, listing the new participant and who they will be replacing.