Qualified Retirement Plans | True North Financial Advisors, Inc

FRS Pension Plan Election Decisions Should Maximize Lifetime Income for Both Life Expectancy Scenarios

Florida Retirement System (FRS) provides two retirement plan alternatives to the employees covered under the state pension plan. The defined benefit plan is called the FRS Pension Plan and the defined contribution plan is called the FRS Investment Plan. For retired employees in the FRS Pension Plan benefits are paid monthly with the amount based…

Defending Public Safety Employees’ Retirement Act Provides Tax Relief to PBSO Deputies and Palm Beach County Fire Rescue Professionals from Early Retirement Withdrawal Penalties

The Trade Priorities and Accountability Act of 2015 (H.R. Bill 2146), also known as the Defending Public Safety Employees’ Retirement Act, became effective December 31, 2015. The new tax law expanded the exemption for many federal public safety employees to include federal law enforcement officers, customs and border protection officers, federal firefighters, and air traffic…

New Proposed Rule Requires Fiduciary Standard for FRS Investment Plan Rollovers

The new rule change proposed by the Department of Labor (DOL) is designed to require the same level of financial advisor responsibilities for Individual Retirement Account (IRA) rollovers, as is currently mandated for FRS Investment Plan accounts. The higher standard referred to by the DOL rule change is known as the fiduciary standard. A financial…

IRS Deadline: Some Boca Raton Investors Must Begin Required Minimum Distribution By April 1 Deadline to Avoid Substantial IRA Penalties

Boca Raton residents who turned 70½ in 2014 must meet the IRS Required Minimum Distribution (RMD) deadline by the April 1st or face a substantial penalty tax. The Required Minimum Distributions imposed by the IRS can be explained by the favorable tax treatment given to qualified retirement plans that “qualify” for a tax deduction when…

Category Archives: Qualified Retirement Plans

FRS Pension Plan Election Decisions Should Maximize Lifetime Income for Both Life Expectancy Scenarios

Defending Public Safety Employees’ Retirement Act Provides Tax Relief to PBSO Deputies and Palm Beach County Fire Rescue Professionals from Early Retirement Withdrawal Penalties

New Proposed Rule Requires Fiduciary Standard for FRS Investment Plan Rollovers

IRS Deadline: Some Boca Raton Investors Must Begin Required Minimum Distribution By April 1 Deadline to Avoid Substantial IRA Penalties

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