Maximum Contribution
Individual Only: $3,500
Family Coverage: $7,000
HDHP Minimum Deductibles
Individual Only: $1,350
Family Coverage: $2,700
HDHP Maximum Out-of-Pocket Amounts
Individual Only: $6,750
Family Coverage: $13,500
Catch-up Contribution (age 55 or older)
Individual Only: $1,000
The coronavirus-related distribution (CRD) rules for Roth conversions have a gaping hole. An “affected person” (as we have defined in previous blogs), is entitled under the CARES Act to withdraw up to $100,000 from their IRA or workplace retirement plan. A CRD avoids the 10% early distribution penalty for those under 59 1/2, can be
Like most people’s lives, the retirement world is upside down. This is made evident by a single statement: “Required minimum distributions (RMDs) can be rolled over.” Yes, that is the new normal—at least for this year. RMDs are considered the first money out of an IRA and workplace plan. Typically, these dollars are ineligible to
The recently-‐enacted Coronavirus Aid, Relief, and Economic Security Act (CARES Act) signed by President Trump on March 27, 2020, allows “qualified individuals” to take up to $100,000 of penalty-‐free IRA and company plan withdrawals during 2020. “Qualified individuals” include those who are (or whose family members are) sickened by the virus or who have virus-‐related