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IRA Essentials
The IRA Essentials Workshop gives 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. The trainer will utilize real-world exercises to help participants apply information to job-related situations. Those attending should bring a hand-held calculator.
Program Agenda for the IRA Essentials Workshop
- IRA 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.
Learn about the regular contribution limits and deadlines. Identify the eligibility requirements for traditional
and Roth IRA contributions.
- IRA 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.
- IRA Transfer and Rollover Contributions: 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.
- IRA Tax Reporting Overview: Review the basic tax reports that the IRA owners receive, such as the IRS
Form 5498 and the IRS Form 1099-R.
Beyond Essentials (Advanced IRA)
Beyond Essentials builds on the learners’ knowledge of IRA basics to help them address some of the more complex IRA issues they handle at the credit union. This is an advanced session; previous IRA knowledge is assumed. The trainer will utilize real-world exercises to help participants apply information to job-related situations. Those attending should bring a hand- held calculator.
Program Agenda for Beyond Essentials
- IRA Benefits: Identify the tax advantages of the Traditional and Roth IRAs.
- IRA Tax Reporting and Withholding: Analyze the IRS Form 5498 and 1099-R tax statements. Describe the withholding requirements on both a federal and state level.
- IRA Transactions: Identify different types of contributions that can be made to Traditional and Roth IRAs, such as rollover contributions, including the automatic waiver of the 60-day rule, and Traditional IRA-to-Roth IRA conversions. List how and when these contributions are reported to the IRA owner and the IRS. Discuss the tax consequences of distributions from Traditional and Roth IRAs. Define an excess contribution, as well as a recharacterization. Analyze the requirements for reporting distributions to the IRA owner and the IRS.
- Required Minimum Distributions: Define the required beginning date (RBD). Differentiate when to use the Uniform Lifetime Table and the Joint Life Expectancy Table. Review the tax reporting requirements for required minimum distributions (RMDs).
- Processing an IRA Death Claim: Examine the steps involved in the death claim process.
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Ben Maas, CIS, CIP
IRA Training Consultant
Ben Maas is a Certified IRA Professional and training consultant for Ascensus, Inc. a division of Crump Group, Inc. He is responsible for conducting IRA training programs to meet the needs of credit unions and leagues nation-wide. Ben is the Project Manager for Internal Training and is responsible for implementing new employee and ongoing training for IRA Services staff.
Prior to joining Ascensus, Ben worked as a specialty lines insurance underwriter. He was a member of the Ascensus IRA Customer Response Center before joining the IRA Training team.
Ben holds a Bachelor of Business Administration Degree in Finance from the University of Wisconsin-Whitewater.
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April 11, 2012 - IRA Essentials
April 12, 2012 - Beyond Essentials
Embassy Suites Nashville - Airport
10 Century Boulevard
Nashville, TN 37214
615-871-0033 Fax: 615-883-9245
Room rate: $119
Cut-off: March 28, 2012
Note: There will not be a fall session of this conference. |
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Registration 8:15 a.m.
Sessions 8:30 a.m. to 4:00 p.m.
Networking Lunch at noon
Educational Investment
$399 per person per day (Includes continental breakfast, lunch, beverage breaks, workbook, calculator, and highlighter.)
Early Bird: $299 per person per day for registrations received two weeks prior to the conference.
Credit unions with assets less than $5 million, FREE
Bring a sweater, as personal comfort levels vary.
Business casual. Be sure to bring a sweater, as personal comfort levels vary.
Call your CU Information Center at 800-572-7359 or 423-899-2425, extensions 1204 or 1208.
Refunds will be issued until 10 days prior to the conference, less a $50 administration fee per person. Substitutions accepted anytime. All cancellations and substitutions must be submitted in writing.
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