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Catch up on all of President Obama’s proposed changes to IRAs in the proposed budget for 2015 from Surgent Chairman Jack Surgent. These proposed changes include:
- Limiting the ability of taking stretch payments to anyone other than a non-spouse. Currently, individuals are able to leave money in their IRA to children or grandchildren.
- Limiting the amount of money you can have in a qualified plan.
- Repelling the exclusion that publicly traded stock in your pension doesn’t have to be taxed.
- No minimum required distribution at age 75.5 if you have less than $110,000 in all your qualified plans.