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IRA Advanced

IRA Advanced

 

Who Should Participate

You should attend this seminar if you are an IRA administrator, a personal banker, or member services personnel with a working knowledge of basic IRA operations and wish to expand your expertise to provide enhanced customer service. A compliance specialist with procedural oversight of IRA policies and practices.  Support personnel responsible for promotional materials that describe the services provided by your financial organization.

Make your attendance count towards your continuing professional education credits! The MBA will provide a certificate of attendance that you may submit to the appropriate advisory board.

Program Overview

Advanced IRAs builds on the attendees’ basic IRA knowledge to address some of the more complex IRA issues their financial organizations may handle. This is an advanced session; previous IRA knowledge is assumed. The instructor uses real-world exercises to help participants apply information to job-related situations.

Those attending should bring a hand-held calculator.

Topics

IRA Update

  • Explain recent changes affecting IRA owners
  • Discuss the current Roth modified adjusted gross income (MAGI) limits
  • Recognize how recent changes may affect your financial organization
Required Minimum Distributions
  • Calculate a required minimum distribution (RMD)
  • Discuss the RMD rules and reporting requirements
Beneficiary Options
  • Describe beneficiary distribution options
  • Recognize the differences for spouse, non-spouse and nonperson beneficiaries
  • Explain beneficiary payment deadlines
Advanced Portability
  • Summarize the restrictions on the movement between IRAs
  • Recognize the options available when moving from an employer-sponsored retirement plan to an IRA
  • Explain the result of violating the portability restrictions

Roth IRA Conversion Contributions

  • Describe a conversion
  • Explain the effect of withholding on a conversion
  • Report a conversion
  • Define the consequences of an ineligible conversion

IRA Excess Contributions

  • Define an excess contribution
  • Identify excess contribution correction methods
  • Calculate NIA to an excess contribution
  • List the possible taxes and penalty taxes for excess contributions
On December 20, 2019, Congress passed the Further Consolidated Appropriations Act, 2020, which included the provisions of the Setting Every Community Up for Retirement Enhancement (SECURE) Act. The SECURE Act represents the most comprehensive retirement reform legislation in more than a decade, and its enactment requires financial organizations to take swift action.

We’ll discuss some best practices designed to assist you while the IRS and DOL are working on formal guidance pertaining to SECURE.

Presenter

Ascensus instructors are recognized as some of the leading retirement plan experts in the industry. Instructors use classroom instruction, multimedia presentation, and real-world examples to create an ideal learning environment for attendees.

Registration Fee (This fee includes materials, lunch and refreshments)

Member: $295.00
$499.00 if also attending IRA Essentials

Qualified Non-Member $590.00

Note:  You will be given the option to pay by credit card or to invoice your company during the checkout process.

Dates & Times

April 8, 2020
Check in: 8:45 AM
Program: 9:00 AM - 4:00 PM

Location

Minnesota Bankers Association
8050 Washington Avenue South
Eden Prairie, MN  55344
Click here for directions

Lodging

Lodging arrangements can be made at: Hyatt Place, Eden Prairie. Click here to make an online reservation, or call 952-944-9700 - dial “0” for the front desk, (Ask for the Minnesota Bankers Association rate of $148.00, plus tax)

Cancellation Policy

The MBA reserves the right to cancel programs due to insufficient enrollment, instructor illness, or other reasons. Participants wishing to cancel must inform the MBA in writing prior to the event. Send cancellation notices to maryh@minnbankers.com. A cancellation fee of 25% of the program cost will be charged for withdrawing, or you may send a substitute. The full program fee will be charged for withdrawing after the event has taken place or a no-show. 

Special Needs

If you have a disability that may affect your participation in this program - or any dietary issues - please send a statement regarding any special needs to maryh@minnbankers.com at least two weeks prior to the program. We will contact you to discuss accommodations.
When
4/8/2020 9:00 AM - 4:00 PM
Where
Minnesota Bankers Association 8050 Washington Avenue South Eden Prairie, MN 55344

Please note that you must be logged in to register online

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