Required Minimum Distributions

Resuming RMDs, Required Minimum Distributions from Retirement Savings Plans

Fulcrum Partners Fulcrum Partners News

RMDs, which are required minimum distributions, mandated by the IRS to be taken from traditional IRAs, rollover IRAs, SIMPLE IRAs, SEP IRAs, most Keoghs, and most 401(k) and 403(b) plans, were waived in 2020. But as life returns to the “new normal,” RMDs are back. While the March 2020 passage of the CARES Act (Coronavirus Aid Relief and Economic Security) temporarily waived the required minimum distributions for all types of retirement accounts, included inherited IRA plans, the waiver expired in December of 2020.


Georgia Approves Workaround To $10k SALT Cap

Fulcrum Partners Fulcrum Partners News

The State of Georgia passed H.B. 149 early last month, seeking a workaround to the $10,000 SALT* cap, included in the Tax Cuts and Jobs Act of 2017 (TCJA). The Bill, as passed by the Georgia House and Senate, becomes law pending the signature of Georgia Governor Brian Kemp. It will add Georgia to the growing list of states to give pass-through entities (PTEs) the option to be taxed at the entity level.

june benefits deadlines

June Benefits Deadlines

Fulcrum Partners Fulcrum Partners News, Deferred Compensation News

Just when you needed a window for scheduling some time off, June rolls in with a shorter than usual checklist of health and retirement benefits deadlines to meet. Thank you, as always, to our friends at IslerDare PC for providing us timely reminders and permitting us to share them with readers of Deferred Compensation News.

Why Employers Use Nonqualified Deferred Comp

Why Employers Use Nonqualified Deferred Comp Plans

Fulcrum Partners Deferred Compensation News, Executive Benefits News

As the federal income tax structure is being re-tooled yet again, employers are evaluating the use of nonqualified plans as a strategy for positioning the organization’s executives to save more effectively for retirement. Why employers use nonqualified deferred comp plans includes benefits both for the organization and for its executives.

Gold pocket watch and hourglass

Retaining Key Talent When There’s a Rush to Retire

Fulcrum Partners Fulcrum Partners News

While some Americans are struggling to get re-established in their jobs or find new employment post COVID-19, others are in a “rush to retire”. The global pandemic impacted everyone in similar ways, and each of us differently. With a heightened sense of “life is short,” some executives who are financially positioned to retire, are choosing to opt out of the workplace years ahead of their original planned retirement date.