By Porter Wright on The Treasury has announced proposed regulations and rulings regarding lifetime income choices. This guidance presumes that employers want to adopt more pension risk by providing more annuity options in their defined contribution and defined benefit retirement plans. … Continue Reading
By Porter Wright on The Internal Revenue Service ("IRS") recently announced cost of living adjustments affecting retirement plans. These new limitations are effective for tax year 2012. Many, but not all, applicable dollar limitations will increase. For this purpose, the IRS uses an adjustment process that is similar to the process used to adjust Social Security benefits (which also will increase effective in 2012).… Continue Reading
By Porter Wright on Are you considering taking an early distribution from your retirement plan? If so, now is a good time to brush up on the early distribution rules. In Tax Tip 2011-42 (available here), the IRS reminds you of the tax impact of taking a withdrawal from your retirement plan before you reach age 59 ½. Early … Continue Reading
