Required Minimum Distribution Alert

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Required Minimum Distribution Alert

The coronavirus bill passed by Congress and signed by the President includes allowing you to not take a Minimum Distribution from your retirement plan this year! If your expenses can be met without tapping into your retirement savings, you could benefit in two important ways:

  • • Lower Income tax for 2020
  • • Providing time for the markets to stabilize, allowing your dividend increases and capital appreciation potential to remain in the plan

The bill also contains less wide-reaching provisions which may allow you to repay any distributions you have taken in the last 60 days. It may also allow you to access your retirement savings if you or a direct member of your family has been affected by the COVID-19 virus.

If you wish to take advantage of this temporary RMD rule change, or need more information on the lesser known provisions, please let us know as soon as possible.

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