A Tax on Retirement Accounts
We’ve all heard there are two inevitable things in life: death and taxes. While we can’t avoid the former, there are things we can do to minimize the latter. In this session, we’ll learn the basics of how all types of retirement accounts are taxed in retirement (at the federal and sometimes state level). We’ll also understand the importance of recognizing that our retirement system members may have retirement accounts from outside their current system (perhaps from past employment in other state systems or the private sector), or their spouses/partners may have those resources if married. How all those resources work together in retirement can mean higher or lower income taxation. In retirement, it turns out what you don’t know will hurt you.
Mike has more than 40 years of experience in the financial services industry, with his last 13 years working at Utah Retirement System as a Retirement Planning Advisor. He is a Certified Financial Planner® and a Certified Retirement Counselor®. He earned his MBA infinance from Baylor University. Mike has taught at the College for Financial Planning, the Society of Certified Senior Advisors, and worked as an instructor and technical consult for the International Foundation for Retirement Education.
