by Springwater Wealth | Nov 1, 2024 | Financial Planning, Retirement Plans, Wealth Management
The 2025 retirement plan limits have recently been announced by the IRS. These new limits are effective January 1, 2025. If you’re an employee and a retirement plan participant, be sure to contact your employer as soon as possible if you wish to change your retirement...
by Springwater Wealth | Oct 10, 2024 | Financial Planning, Retirement Concerns, Retirement Plans, Wealth Management
What is Medicare IRMAA? The Income-Related Monthly Adjustment Amount (IRMAA) is an additional charge applied to Medicare premiums for individuals with higher incomes. IRMAA applies to both Medicare Part B (medical insurance) and Medicare Part D (prescription drug...
by Springwater Wealth | Jul 20, 2024 | Financial Planning, Retirement Plans, Taxes, Wealth Management
The Internal Revenue Service has finally clarified the rules on required distributions from inherited retirement accounts, like IRAs, 401(k)s and 403(b)s. The rules affect most heirs, but not spouses. The new guidance applies to both future inheritors and those who...
by Springwater Wealth | Nov 2, 2023 | Investment Management, Retirement Plans, Wealth Management
The 2024 retirement plan limits have recently been announced by the IRS. These new limits are effective January 1, 2024. If you’re an employee and a retirement plan participant, be sure to contact your employer as soon as possible if you wish to change your retirement...
by Springwater Wealth | Apr 26, 2023 | Investment Management, Retirement Plans, Taxes
Background In December 2022, Congress passed legislation that enhanced the 2019 SECURE Act. The enhancement – referred to by many as SECURE 2.0 Act – was signed by President Biden and enacted immediately. The law includes a number of significant provisions...
by Springwater Wealth | Apr 26, 2023 | Investment Management, Retirement Plans, Wealth Management
You’re leaving your current job. Maybe you’ve retired, or you’ve taken a new job with another employer. Or maybe your current employer has laid you off. One decision you’ll need to make is what to do with your employer-sponsored retirement account with your former...
