TRA MAKES NEWS HAPPEN

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  CASE OF THE WEEK – 242(b)(2) Election

  February 21, 2025 - Learn whether plan participants can skip required minimum distributions (RMDs) with a valid Section 242(b)(2) election under the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA). Discover eligibility criteria and the impact of transitional rule elections on modern-day RMD requirements. Continue
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  CASE OF THE WEEK – New Self-Correction Procedures in VFCP

  February 14, 2025 - The DOL released new rules that add a self-correction process to the VFCP, effective March 17, 2025. Specifically, the new procedures permit a plan sponsor to self-correct two of the most common plan errors related to 1) delinquent participant contributions and loan repayments, and 2) eligible inadvertent participant loan failures. Continue
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  Web Resources for Plan Sponsors

  February 11, 2025 - Discover essential web resources for plan sponsors, including the IRS Retirement Plans, U.S. Department of Labor's Employee Benefits Security Administration, 401(k) Help Center, PLANSPONSOR Magazine, BenefitsLink, Plan Sponsor Council of America, and Employee Benefit Research Institute. Access vital information and tools to manage and optimize your retirement plans. Continue
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  CASE OF THE WEEK – Aggregating Individual Retirement Annuities for RMDs

  February 7, 2025 - Learn how the new annuity/account aggregation rules for Required Minimum Distributions (RMDs) can potentially reduce your total annual RMD amount. This optional method requires annuity providers to give IRA owners the present value of the annuitized portion of their IRAs. It's still uncertain if insurance companies will automatically provide this information or if IRA holders need to request it. Continue
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  Maximizing Retirement Savings & Contributions – 401(k) Tips

  February 4, 2025 - At The Retirement Advantage, Inc. (TRA), we specialize in partnering with businesses of all sizes to design and manage customized retirement plans. With our expertise, you can offer a plan that helps employees maximize retirement contributions while enhancing your benefits package. Continue
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  Plan Sponsors Ask…

  February 4, 2025 - Considering adding a retirement income solution to your plan? BlackRock’s 2024 Read on Retirement report highlights that 60% of employees worry about outliving their savings, impacting their mental health. With 93% believing guaranteed retirement income would improve their well-being, adding secure income options can enhance retirement outcomes and attract talent. Continue
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  CASE OF THE WEEK – More RMD Change Delays

  January 31, 2025 - Stay informed on the latest SECURE Act and SECURE Act 2.0 provision updates, as delays in applicability dates persist. Plan sponsors, advisors, and participants must remain current with changes. Despite delayed effective dates, the IRS requires taxpayers to apply a reasonable, good faith interpretation of the statutory provisions for periods before the new applicability dates. Continue
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  Tips for Supporting Retirement-Age Employees

  January 28, 2025 - Discover how to support the unique needs of retirement-age employees as their workforce participation increases. Learn about providing financial education, phased retirement programs, simplified retirement processes, and ongoing engagement opportunities to help them transition smoothly and feel valued within the organization. Continue
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  CASE OF THE WEEK – Spousal IRA Contribution

  January 24, 2025 - The deadline for 2024 traditional or Roth IRA contributions is April 15, 2025. Eligible couples over age 50 can contribute up to $32,000 (for 2024 and 2025), while those under 50 can contribute up to $28,000. Take advantage of this opportunity to maximize your retirement savings. Continue
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  PRESS RELEASE – TRA, Empower, Envestnet, and FiduciaryxChange Introduce the TRA Select 401(k) PEP: Simplifying Retirement Plans for Employers

  January 23, 2025 - Discover the TRA Select 401(k) Pooled Employer Plan (PEP) from The Retirement Advantage, Inc. (TRA). This innovative retirement plan offers businesses enhanced benefits, superior services, competitive rates, and reduced administrative burdens. Key partners like FiduciaryxChange, Empower, and Envestnet provide expert fiduciary oversight, comprehensive recordkeeping, and diverse investment options. Simplify your retirement plan management and achieve greater value with the TRA Select 401(k) PEP. Now available for organizations seeking tailored, cost-effective retirement solutions. Continue