How to add predictive analytics into your risk program. Risk reports are often limited to historical insights and issues and do not provide guidance and insights into the future of the organization. Adding predictive analytics can allow your organization to detect emerging risks and create mitigation plans. This can be achieved by combining internal and external key risk indicators (KRIs) and key performance indicators (KPIs) with regulatory intelligence. This ensures that risk reports can detect more issues and highlight areas of concern. Click here to learn more.
Proposed changes to life expectancy and distribution tables
This morning, the Internal Revenue Service has published [84 FR 60812] proposed regulations providing guidance relating to the life expectancy and distribution period tables that are used to calculate required minimum distributions from qualified retirement plans, individual retirement accounts and annuities, and certain other tax-favored employer-provided retirement arrangements. These regulations affect participants, beneficiaries, and plan administrators of these qualified retirement plans and other tax-favored employer-provided retirement arrangements, as well as owners, beneficiaries, trustees and custodians of individual retirement accounts and annuities. The Federal Register document also provides a notice of a public hearing on the proposed regulations.
The revised life expectancy tables in the proposal reflect longer life expectancies than the tables in the existing regulations, and would reduce required minimum distributions, allowing participants to retain larger amounts in their retirement plans to account for the possibility they may live longer.
Comments on the proposal will be accepted through January 7, 2020.