Retirement

The American Institute of CPAs’ Employee Benefit Plans Expert Panel has developed some new practice aids to provide nonauthoritative guidance about the effects of recent accounting standards relating to the liquidation basis of accounting on employee benefit plans.

The Internal Revenue Service has released proposed regulations to address the tax treatment of distributions from designated Roth IRA accounts under tax-favored retirement plans.

The Equal Employment Opportunity Commission has been questioning some of the Big Four accounting firms about their policy of requiring their partners to agree to retire at a specific age.

If it seems impossible to amass a fortune in an IRA during your lifetime, think again.

About 9,000 U.S. taxpayers have each accumulated at least $5 million in individual retirement accounts, said the Government Accountability Office, raising questions about some investors’ tax-advantaged returns.

Lyle Benson of L.K. Benson & Co., who chairs the AICPA's PFP section, discusses how CPA financial planners can make sure their clients' assets last throughout their retirement years, along with the tax planning aspects of retirement planning, in an interview with Accounting Today editor-in-chief Dan Hood.

Ted Sarenski, president and CEO of Blue Ocean Strategic Capital, discusses the findings of the AICPA Personal Financial Planning section's Elder Planning Task Force survey on major issues surrounding financial planning and retirement, including uncertainty about Social Security and the rising cost of health care, in an interview with Accounting Today editor-in-chief Daniel Hood .

Many U.S. households are not adequately prepared for retirement, according to a new report from the Federal Reserve that found 31 percent of non-retired respondents indicating they have no retirement savings or pension, including 19 percent of those ages 55 to 64.

Withdrawals from individual retirement accounts tend to be driven largely by people who are 70-½ or more, according to new research.

The scheduled depletion date for Social Security’s Disability Insurance Trust Fund is only two years away, in late 2016, according to a new government report.

Critical challenges facing Americans and their advisors

The Internal Revenue Service has partially withdrawn some of the rules it had earlier proposed on limiting rollovers from individual retirement arrangements.

Three-quarters of Americans are worried about having enough money for retirement, according to a new survey that found three out of 10 Americans are not saving for later years.

In 2014 many of the country’s high-income earners will keep less than they pay in taxes.

The Treasury Department and the Internal Revenue Service have issued final rules on longevity annuities, which can help retirees manage their savings to ensure they have a stream of regular income as they get older, making longevity annuities accessible to the 401(k) and IRA markets.

The Governmental Accounting Standards Board has published two proposed statements to improve financial reporting by state and local governments of other post-employment benefits, such as retiree health insurance.

A unanimous Supreme Court has held that the funds in an inherited IRA do not qualify for exemption in bankruptcy because they do not share the same characteristics as “retirement funds” that traditional IRAs have.

Working with the 'new' one-year/one-rollover rule for retirement plans

The Internal Revenue Service’s Employee Plans Compliance Unit recently looked at whether employee benefit plan sponsors had completed all the necessary steps after filing a Form 5500-series return showing they had adopted a resolution to terminate the plan, and found that many did not.

The Internal Revenue Service said Thursday it will begin a one-year pilot program in June to help small businesses with retirement plans that owe penalties for not filing reporting documents.