​The “Successor Beneficiary” option in ProTracker Advantage® accommodates inheritors after the deaths of the Participant and the Designated Beneficiary.

When the SECURE Act (2019) altered the retirement rules, investment advisors became burdened with managing the new 10-year Rule. Under this Rule, account owners must take the total amount of the retirement account within ten years. Advisors bear responsibility for making this happen.

There are now three RMD options for a surviving spouse who is older than the decedent spouse who reached their Required Beginning Date (RBD) before death.

​Many firms struggle with calculating Required Minimum Distributions (RMDs) using spreadsheets or, worse, a financial calculator. Of course, when participants are alive and taking RMDs, the calculations are simple. But even that situation is slightly compounded by the new 2022 longevity tables. Some advisors we have spoken with did not realize the tables had changed.