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the largest pre-paid legal services program in the country. |
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represented by AFSCME and support staff are represented by
OPEIU. |
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Highlighted
Case:
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Tax Law Change Continued
The new law benefits non-spouse beneficiaries of a decedent's retirement plan by permitting them to roll over the distributions tax-free into their own, specially created "inherited IRA." Moving a lump sum into an inherited IRA would permit distributions over the lifetime or life expectancy of the beneficiary. This could be advantageous, especially for a young person. The beneficiary could build up a considerable balance in the IRA if the fund is invested so that it will earn more than the required minimum distribution each year while the account continues to grow over the years. Note that the new law applies only to distributions made after December 31, 2006.
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copyright 2000, UAW Legal Services Plans. |
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