The ABC's of RMD's (Retirement Minimum Distributions) NEW!
One of the most challenging financial aspects of retirement, especially for people who have been diligent savers throughout their working years, is taking required minimum distributions (RMDs) from their tax-deferred retirement savings accounts (e.g., 401(k)s/403(b)s, TSP, SEP, Traditional IRA) beginning at age 72. RMDs can have a significant impact on a retiree’s income tax liability. New RMD tables went into effect in 2022. This workshop will discuss basic facts about RMDs, the new IRS life expectancy tables, tax implications, tax withholding for RMDs, tax penalties for incorrect RMDs, ways to reduce the tax impact of RMDs, and options for using money that is withdrawn from tax-deferred retirement savings accounts.
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Masks and social distancing are recommended in all indoor areas. COVID-19 is an extremely contagious disease that can lead to severe illness and death. According to the Centers for Disease Control and Prevention, senior citizens and guests with underlying medical conditions are especially vulnerable. COVID-19 is believed to spread mainly through person-to-person contact. You may have a risk of contracting the virus simply by being present at this facility. By entering, utilizing or participating in any activity in or at this facility, you are agreeing to assume all risks including personal injury, illness, disability, or death related to exposure to COVID-19. Do not use this facility if you have symptoms of, are diagnosed with, or have been exposed to COVID-19. You hereby release, covenant not to sue, discharge, and hold harmless Master the Possibilities and On Top of the World Communities, LLC, Sidney Colen and Associates, Ltd., their agents, servants, and employees, and any other interested parties from all Claims, including all liabilities, claims, actions, damages, costs or expenses of any kind arising out of or relating thereto.
If class is cancelled by the participant because of COVID positive results, there will still be a processing fee incurred by the participant.
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