As we approach the end of the year, time to go over required minimum distributions (RMDs) and how the SECURE Acts 1.0 and 2.0 changed the IRS penalties and rules.
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FedLife Podcast (ep. #107): Understanding RMDs for the TSP and IRAs
In this episode, Dan and Ed discuss what federal employees need to grasp when it comes to taking RMDs from their qualified retirement accounts – including beneficiary or inherited IRAs.
Featured in this episode:
- The Required Beginning Date for RMDs
- Excess accumulation penalty
- Beneficiary IRAs – do you need to take an RMD?
- The impact of the two SECURE Acts
- Remember no more RMDs for the Roth TSP
- QCDs and the Qualified Charitable Distribution deadline
- Higher tax brackets and how they affect feds’ financial plans
- The impact of the 2017 Tax Law’s expiration
- Roth conversions at the end of the year
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