Social Security, IRMAA, Basis In IRAs, and SPIAs: Q&A #2343

October 28, 2023

Social Security, IRMAA, Basis In IRAs, and SPIAs: Q&A #2343

Jim and Chris sit down to discuss listeners questions relating to Social Security, IRMAA, basis in IRAs, and SPIAs.

(26:15) A listener looks for general clarification on their own Social Security benefit, potential survivor benefit and the effects of WEP.

(34:15) George from Minnesota asks about the timing of IRMAA and when they might be expected to pay the additional premium.

(43:45) Jim discussed some ideas for how to separate the after-tax basis in an IRA.

(57:30) George from Texas looks for clarification on the tax treatment of a distribution from a SPIA.

Check out the background of firms and investment professionals on SEC’s Adviser Info Page.

Jim Saulnier and Associates | 970-530-0556 | 506 East Mulberry Street, Fort Collins, Colorado 80524

Ed Slott Advisor recognition requires an advisor to be well versed on the rules and regulations regarding IRAs. The advisor must attend two live training sessions and pass two written exams annually to remain in the program. Jim Saulnier & Associates, LLC (“RIA Firm”) is a registered investment adviser located in Fort Collins, CO. Jim Saulnier & Associates, LLC may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. Current registered states: CA, CO, PA, TX, WA, IL Insurance products and services are offered and sold through James H. Saulnier, a Colorado licensed insurance producer, only in those states in which he is reciprocally licensed or qualifies for an exemption or exclusion from licensing requirements. Current reciprocal insurance licensing in these states: AZ, CA, CA, CN, FL, HI, IA, MA, MD, NY, PA, SC, TN, TX, VA, WA, WI, WY Click here for a more detailed disclosure.