EVENT:
IRA Essentials (Naperville, IL) (Session Code: 662)
This full-day program will give attendees a solid foundation of IRA knowledge. Exercises are included throughout the day to help participants apply information to job-related situations. Attendees will leave this session able to work with IRA owners and process basic IRA transactions with confidence. This is a beginner's session; no previous IRA knowledge is assumed. We will practice real-world exercises to help participants apply information to job-related situations.
What we'll cover:
· Fundamentals -- Examine the importance of retirement savings to your members and your credit union. Identify the differences between traditional and Roth IRAs, and review the process for establishing an IRA.
· Contributions -- Lean about the contribution limits and deadlines. Identify the eligibility requirements for traditional and Roth IRA contributions.
· Distributions -- Discuss the process for removing funds from traditional and Roth IRAs. Identify IRS penalties and their exceptions, and learn when to withhold for income taxes. Discover when owners are required to remove their IRA funds.
· Transfers and Rollovers -- Identify the differences between a rollover and a direct transfer. List the difference when the money comes from a qualified retirement plan instead of an IRA.
· Tax Reporting -- Review the basic tax reports that the IRA owners receive, such as the IRA Form 5498 and the IRA Form 1099-R
Illinois Pricing:
CU's 6 million and above: $169.00 1st attendee $144.00 2nd attendee
CU's Below 6 million: $149.00 1st attendee $124.00 2nd attendee
Contact: Mary Jaros (Illinois Credit Union League)
Phone: 630-983-3466
Fax: 630-983-3212
Email:
mary.jaros@ilcusys.org