Regional Vice President of Sales The Retirement Plan Company
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Compass
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Bates & Company, Inc.
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Loan & Distribution Specialist AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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AimPoint Pension
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RMD Changes Effective in 2023 and 2024
Holland & Hart LLP [Guidance Overview] Apr. 18, 2023 "Generally effective in 2024, Roth accounts in qualified plans will no longer be subject to RMDs. This aligns the tax treatment of Roth accounts in qualified plans with the tax treatment of Roth IRAs.... Effective with tax year 2023, excise taxes levied on participants for failure to take timely RMDs have been reduced from 50% to 25%, and further reduced to 10% if the failure is corrected quickly after discovery of the problem." |
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