In this episode, Dan Sipe & Ed Zurndorfer discuss the procedure to follow if someone isn’t named an eligible beneficiary. Along with how required minimum distribution works and the importance of transferring your ROTH TSP account to a ROTH IRA account before age 72.
FEDLIFE Podcast Ep.74: Inheriting Savings Accounts, Part 2
Inheriting a retirement account can be tricky. There were options to withdraw money each year over your life expectancy in the past. Now, with the Secure Act 2.0, those options are gone. And what happens when you’re not the named beneficiary?
In this episode, Dan Sipe & Ed Zurndorfer discuss the procedure to follow if someone isn’t named an eligible beneficiary. Along with how required minimum distribution works and the importance of transferring your ROTH TSP account to a ROTH IRA account before age 72.
Dan & Ed discusses:
- How the passing of secure act 2.0 has affected money withdrawal
- What Required Minimum Distribution (RMD) is
- Why all money must be withdrawn from an inherited TSP or IRA account within ten years if they aren’t an eligible designated beneficiary
- And more
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“Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services offered through Raymond James Financial Services Advisors, Inc. Lee, Sipe & Associates, Inc. is not a registered broker/dealer and is independent of Raymond James. Content represents the opinions of the speaker and not necessarily those of Raymond James. Important Disclosure Information: http://raymondjames.com/smicd.htm.
