TIAA Traditional - Can I Use My Lifetime Income Payments to Satisfy RMD? скачать в хорошем качестве

TIAA Traditional - Can I Use My Lifetime Income Payments to Satisfy RMD?

TIAA Traditional - Can I Use My Lifetime Income Payments to Satisfy RMD? #tiaa #tiaaa #tiaatraditional In this video, Greg Shepard of S&A Financial Services dives into a question many TIAA account holders face: Can lifetime income payments from a TIAA Traditional Fixed Annuity be used to satisfy RMDs (Required Minimum Distributions) across multiple contracts? Key Takeaways: The Scenario: You have multiple contracts across different employers and have initiated lifetime income payments from one contract. Can the excess lifetime income payments cover RMD requirements from other contracts or plans within TIAA? The Answer: Lifetime income payments can satisfy the RMD from the same contract (and likely the same plan) where the payments are initiated. They cannot satisfy RMDs from other contracts or employer plans—a critical distinction to avoid IRS complications. What You Should Do: Consult with your CPA for clarification, but keep in mind they may not be familiar with TIAA-specific rules. Contact TIAA directly for confirmation. Be cautious when navigating these nuanced rules, especially with recent legislative changes like the SECURE Act 2.0. While the answer may seem straightforward, the nuances of TIAA contracts make this a gray area. Greg emphasizes the importance of seeking professional guidance and asking the right questions to ensure compliance. If you have questions or need help navigating your TIAA accounts, reach out to Greg—his contact info is below. =========================== Make sure to connect w/ us ➡ https://tiaasimplified.com 🔔 Make sure to subscribe here to get notifications of future videos @TIAAsimplified 📆 Jump on my calendar to see how we can simplify your TIAA life.... (copy & paste) https://calendly.com/greg-safinancial... 🎤 Explore the Podcast    • TIAA Simplified Podcast   email: [email protected] 913-521-2381 Disclosure S&A Financial Services, Inc. is a registered investment advisor. Content presented is for informational purposes only and should not be considered as investment advice or as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Always consult with your tax advisor or attorney regarding your specific situation.