Tuesday, January 28, 2020

Big Legislative Changes: The SECURE Act

Ensure you know how new laws and regulations may impact your clients' retirement and legacy planning. The Setting Every Community Up for Retirement Enhancement (SECURE) Act delivered some of the biggest legislative changes to America’s retirement system in over a decade. Its purpose
has two primary goals: 1) make it easier for individuals to save for retirement and 2) encourage businesses to offer retirement plans.

What You Need to Know
The SECURE Act is making sweeping changes to federal retirement law and taxation that will likely impact all American retirement savers in some way. It provides greater opportunity for Americans to save for a more secure retirement. 

The SECURE Act makes several new policy changes impacting everything from small business access to retirement plans to RMD rules for individuals to modifications of beneficiary distribution options, such as “Stretch IRAs.” 

Many of the impacts of the SECURE Act are still being reviewed and may also be subject to interpretations by the Internal Revenue Service or other government authorities as they are fully implemented. While more time will be needed to fully understand the complete impact of the SECURE Act, we’ve taken a moment to make some resources available that highlight the opportunities, and potential challenges, brought forth under the new Act.

Please take a moment to review these resources by clicking the link below, and contact MVP if we can be of any assistance.

The SECURE Act: What You Need to Know

Tuesday, December 17, 2019

Maximize the Impact of Charitable Giving

74% of individuals give financially to nonprofit organizations.*

While making an annual gift with cash is simple, it is not always the most tax efficient option. Gifting long-term appreciated securities may provide a greater tax benefit and ultimately a greater contribution to the charitable organization.

Effective charitable planning strategies are available to help donors maximize the impact of their giving.

Help Your Clients Here

*2017 U.S. Trust Insights on Wealth and Worth®

Tuesday, December 3, 2019

Make Your Business Count for 2019

All of our carriers have established a final day to receive requirements for 2019 production credit (paid as 2019 income). All initial premium and final requirements must be received in the carrier's home office by these deadlines to be included in 1099 MISC for 2019. View Calendar

Regulatory Changes Coming
Effective January 1, 2020, all life products sold must be compliant with Principle Based Reserving (PBR), and the 2017 Commissioners Standard Ordinary (CSO) Table. All non-compliant life products must be placed inforce prior to December 31, 2019.

Make sure you know what you are selling - Many carriers have already made the regulatory changes to their products. Some carrier's products, meeting these regulations, won't be available until the new year. 

Contact MVP if you are not sure, because no exceptions can be made after the carrier's deadline has passed.