IRAs don’t have to be difficult or scary. This is the third in a series of five IRA programs designed to provide bank employees with the basics. Each program is approximately 45 minutes in length. Keeping it short has several advantages. Brevity promotes better retention and comprehension. Plus the training is easily incorporated into the workday. A detailed manual accompanies each program. Those participating are also encouraged to follow along using their Bank’s IRA forms.

 

When an IRA owner dies the funds remaining on deposit in a traditional IRA are inherited by one or more beneficiaries. A beneficiary is required to take the money. Funds can not remain on deposit indefinitely. IRS regulations establish options for distributions to beneficiaries. Options vary depending on who the beneficiary is and when the IRA owner died. The bank's job is to explain the available options and open an account in the name and TIN of each beneficiary. This helps facilitate the beneficiary's distribution election and ensure correct reporting to the IRS. The companion manual to this program provides detailed instructions for establishing beneficiary accounts and quick reference charts which outline available options for beneficiaries.

 

>This program teaches:

Live Chat is available with this program! November 12, 2010 - 11:30 AM to 1:30 PM CT / 12:30 to 2:30 PM ET: Using our instant message system you are able to chat with the speaker in real time. The link to the speaker chat room is found in your course with other program resources. You will not need a speaker phone. All programs are on-demand. You do not have to wait for a scheduled date and time to participate in the program. To take full advantage of this opportunity, watch the presentation in advance and have your questions ready.

Workshop Resources: This presentation includes audio, video and a power point slide show. A detailed manual is available for download. It is suggested a copy be made for each person participating in the program. For questions after the program a question and answer forum is provided as a part of the course. All questions are answer by the speaker and available to anyone purchasing the program.

 

Expected Audience: This course is designed for financial institution personnel who are new to IRAs or need a refresher.

 

Speaker: Laura Wilson is a principal with Pegasus Educational Services, LLC. She is a gifted trainer who proves learning can be fun. Audiences routinely comment that her recollection of material content and sense of humor are unique among presenters on technical topics. At one time she served as the regulatory compliance trainer for a $3 billion savings bank. Later, she was a senior consultant and full-time trainer for a regional consulting firm for financial institutions.

She has served on the faculty of the OTS’ Level I Compliance School and the FDIC’s Bank Operations and Compliance School for examiners. In addition to presenting seminars for seventeen state banking associations, she has been an instructor at compliance schools sponsored by the Iowa, Kentucky, Texas, and Pennsylvania bankers associations.

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