30min | Credits: 0.75 CISP, CRSP, CSOP, CTFA
Description: Explores key concepts on basic IRA product features and benefits, contribution and distribution requirements. Explains traditional, rollover, and Roth IRAs, including the new conversion rules, as well as Simplified Employee Pension Plans and SIMPLE Retirement Accounts. Presents information about IRA tax benefits and penalty calculations.
Audience: All bank personnel who require a basic understanding of IRAs including experienced tellers and new accounts representatives, personal bankers, platform assistants, branch managers, trust administrators, and private bankers.
After completing this course, students will be able to:
- Describe the types of Individual Retirement Accounts, including contribution rules
- Traditional IRAs
- Roth IRAs
- Rollover IRAs
- Simplified employee pension plans
- SIMPLE retirement accounts and 401(k) plans
- Explain the IRA withdrawal requirements
Created: December 2020