Handling traditional IRA required minimum distributions (RMDs) and Roth IRA distributions are important components of administering any IRA program. This session will include a thorough review of the rules and best practices surrounding handling and calculating RMDs and Roth IRA distributions. New or experienced staff who meet face-to-face with IRA owners or have IRA operational or reporting responsibilities will gain a solid understanding of RMD and Roth IRA distribution rules and considerations.
- Responsibilities versus best practices when calculating traditional IRA RMDs
- How to calculate RMDs, including the difference between uniform-life and joint-life expectancy tables
- RMD reporting requirements to the IRS and IRA owner
- Common terminology, including required beginning date, first required distribution year, aggregation of plans, and excess accumulation penalties
- Roth IRA distribution rules
- Qualified versus non-qualified Roth IRA distributions
- Ordering rules associated with non-qualified Roth IRA distributions
- How to process and properly report Roth IRA distributions
- TAKE-AWAY TOOLKIT
- Employee training log
- NEW – Interactive quiz
WHO SHOULD ATTEND?
This informative session will provide the information and reference tools needed to confidently provide IRA owners with the information required for them to make informed decisions regarding their RMD and Roth IRA distribution options. Staff who have IRA operational or compliance responsibilities will get current guidance on the processing and government reporting requirements associated with RMDs and Roth IRA distributions. Managers will gain a solid understanding and appreciation of their responsibilities when handling these types of IRA distributions.
SPEAKER: Frank J. LaLoggia, LaLoggia Consulting, Inc.
Frank LaLoggia is the President of LaLoggia Consulting, Inc., Rochester, New York, a pension consulting firm that assists financial organizations with ongoing support in the creation, development, and marketing of their retirement plans offerings.
Frank coordinates and conducts retirement plan seminars and training programs throughout the United States, including in-house IRA, HSA and employer retirement plan training sessions. With over 38 years’ experience in employee benefits, and always in demand, his client list is impressive. He has assisted many leading financial organizations in the pension and financial services industries. Frank has achieved the designation of Deferred Compensation Specialist through Northeastern Universities Center for Continuing Education and The National Retirement Plans Training Conference.