In Legal Terms: Retirement Account Regulations
What are the laws around IRAs and 401Ks?
In Legal Terms · MPB Think Radio
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Show Notes
Professor Richard Gershon explains the regulations around making contributions and withdrawals from retirement accounts such as 401Ks, IRAs, and Roth IRAs.
· Professor Gershon is the author of several books and articles on taxation and legal education. In 2019 he published the seventh edition of “A Student’s Guide to the Internal Revenue Code (with Professor Jeffrey A. Maine).
On August 13th, MPB”s Money Talks gave out advice about retirement investing. The host Ryder Taff, a chartered financial analyst with New Perspectives, covered those who are retired, about to retire, and people just starting out. You can find that show and listen On Demand at moneytalk.mpbonline.org or on your podcasting platform.
Total annual contributions to your Traditional and Roth IRAs combined cannot exceed $6,000 (under age 50) for 2019. 401(k) contribution limit increases to $19,000 for 2019. https://www.irs.gov/newsroom/401k-contribution-limit-increases-to-19000-for-2019-ira-limit-increases-to-6000
Setting Every Community Up for Retirement Enhancement (SECURE) legislation is under consideration in Washington, D.C.
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