Traditional IRA

Traditional IRA with

Mature Texans Financial Solutions

The Traditional Individual Retirement Account (IRA) stands as a key component of a qualified retirement plan. Upon retirement, individuals often opt to consolidate their qualified accounts, such as 401(k)s, 403(b)s, 457(b)s, TSAs, or Simplified Employee Pension (SEP), by transferring them into a Traditional IRA. This strategic move empowers retirees to assume personal control over their savings, fostering greater autonomy and flexibility in managing their financial future.

Inherited Traditional IRA

Considering the Secure Act 2019, the rules governing inherited Traditional IRAs have significantly changed, particularly affecting non-spousal beneficiaries. Non-spousal individuals inheriting a traditional IRA are now required to liquidate the account by the end of the 10th year following the owner’s death.

If your spouse inherits the Traditional IRA, they can assume ownership with the same benefits as you.

 

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