With varying rules applying to tax-advantaged investments, and penalties for forgotten distributions, now is an opportune time to review retirement accounts. Chris Hennessey talks about retirement plan actions that must take place before year-end, including requirement minimum distributions (RMDs) for individuals age 70½.

Here are additional topics for investors to consider:

  • The Charitable IRA Rollover provision is now permanent. It allows retirees age 70½
    or older to direct up to $100,000 to a qualified charity tax free.
  • An RMD can be used as an after-tax contribution to fund a 529 college savings plan for grandchildren.
  • Investors in lower tax brackets can consider converting a traditional IRA to a Roth IRA.

Retirement plan contributions should be reviewed regularly to make sure they are on track to benefit from tax advantages.


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