PLEASE NOTE: Location has been changed to Indiana Wesleyan University. If you are not a KBA member, please contact Jamie Hampton at jhampton@kybanks.com for the possibility of attending at a non-member rate.
Online registrations are followed up with an email confirmation. Once an online registration is started you must click proceed to check-out and then click submit to finalize the registration. Registrants can view events they are registered for by using the MyKBA link on https://www.kybanks.com. Advanced IRAs builds on the attendees’ basic IRA knowledge to address some of the more complex IRA issues that their financial organizations may handle. This is an advanced session; previous IRA knowledge is assumed. The instructor uses real-world exercises to help participants apply information to job-related situations. Regulatory Changes • Discuss the upcoming IRA amendment date • Describe 529 plan-to-Roth IRA rollovers • Explain the rules for Roth simplified employee pension (SEP) IRAs and Roth savings incentive match plan for Employees of small employers (SIMPLE) IRAs • Recognize the increased contribution limits for SIMPLE IRA plans • Understand the new early distribution penalty tax exceptions created by SECURE 2.0 • Discuss the new electronic reporting requirements Required Minimum Distributions • Calculate a required minimum distribution (RMD) • Discuss the RMD rules • Explain the RMD reporting requirements
Beneficiary Options • Describe beneficiary distribution options when an IRA owner dies on or after January 1, 2020 • Recognize the differences for the various beneficiary types Advanced Portability • Identify the types of plan assets that are eligible for rollover • Compare the difference between retirement plan rollovers to Traditional and Roth IRAs • Explain the result of violating the portability rules • Understand a Roth IRA conversion IRA Excess Contributions • Define an excess contribution • Identify excess contribution correction methods • Describe a recharacterization • Calculate net income attributable (NIA) • Explain the possible taxes and penalty taxes for excess contributions • Describe reporting for excess contribution and recharacterizations Who Should Attend You should attend this seminar if you are • an IRA administrator, personal banker, or member services personnel who has a working knowledge of basic IRA operations and are looking to expand your expertise and provide enhanced customer service; • a financial professional who recognizes that IRAs play an integral role in retirement planning; • a compliance specialist with procedural oversight of IRA policies and practices; or • support personnel responsible for promotional materials that describe the services provided by your financial organization. Event Brochure
Ben Maas is a Senior Training Consultant with the ERISA department at Ascensus. Mr. Maas conducts IRA training programs nationwide. His expertise includes Traditional and Roth IRAs, Coverdell education savings accounts, health savings accounts and SEP and SIMPLE IRA plans. He also leads the development, design, implementation, assessment and maintenance of the IRA University curriculum. Mr. Maas joined Ascensus in 2005 as a member of the IRA Call Center before becoming a training consultant. He received a Bachelor of Business Administration degree in Finance from the University of Wisconsin-Whitewater. He has earned the Certified IRA Specialist (CIS) designation through Ascensus, the Certified IRA Professional (CIP) through the National Association of Federal Credit Unions (NAFCU), and the Certified IRA Services Professional (CISP) designation through the Insitute of Certified Bankers. He is a member of the Association for Talent Development (ATD). Ascensus is the largest independent retirement and college savings services provider in the United States, helping over 7 million Americans save for the future. With more than 35 years of experience the firm partners with financial institutions to offer tailored solutions that meet the needs of financial professionals, employers and individuals. Ascensus specializes in recordkeeping, administrative, and program management services, supporting over 40,000 retirement plans and 3.5 million 529 college savings accounts. It also administers more than 1.5 million IRAs and health savings accounts and is home to one of the largest ERISA consulting teams in the country.