by Paul Fennell | Dec 30, 2019 | Newsletter
The bill was tucked into the 1,700 page, $1.4 trillion Further Consolidated Appropriations Act, 2020 (H.R. 1865, as amended) to fund half the government for the remainder of fiscal year 2020, which began Oct. 1. The House of Representatives approved H.R. 1865 on Dec....
by Paul Fennell | Nov 15, 2019 | Newsletter
Ashley Patrick and her husband, both in their late twenties, took out a $25,000 loan from his 401(k) account to pay for a home renovation. Then he lost his job, which triggered mandatory full repayment within 90 days. They didn’t have the cash to pay off the loan, so...
by Paul Fennell | Nov 6, 2019 | Newsletter
The IRS announced this and other changes in Notice 2019-59. The guidance provides cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2020. Highlights of Changes for 2020 The contribution limit for...
by Paul Fennell | Sep 6, 2018 | Newsletter
Earlier this year, the Bipartisan Budget Act of 2018 was passed by Congress and signed into law. While this law made several changes that impact retirement plans, one provision changing the rules around hardship distributions is particularly notable. As a result of...
by Paul Fennell | Jun 28, 2018 | Newsletter
Many American workers participate in company retirement plans, methodically contributing to their accounts over time to fund for life after work. Beyond benefiting from employer-funded plans, retirees commonly draw from additional savings tucked away in IRAs or...
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