A ‘retirement savings time bomb': Americans had a deal with the taxman—then Congress broke that promise [Fortune]
Booz Allen Hamilton Holding Corporation (BAH)
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Source: Fortune
When Congress passed the SECURE Act on Dec. 20, 2019, we lost out on the three-part deal that many retirees and their beneficiaries had been banking on, literally. These were the terms many savers counted on when they planned their retirement strategies: 1- We would save for our retirement and, along the way, receive tax deductions for our contributions. 2- Then, in retirement, we would pay back that tax but in small increments over our lifetimes. 3- Any funds we didn't use could continue being withdrawn by our beneficiaries over their lifetimes. In some cases that could be decades or generations. This deal, commonly known as the stretch IRA since distributions and tax deferral could extend over lifetimes, was all perfectly legal under the tax code. It required no loopholes or abusive tax tactics. Many of us hinged our financial planning around that arrangement because we not only wanted to save for ourselves but also for our children and grandchildren. Then Congress went
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BAH
Earnings
- 5/24/24 - Beat
BAH
Sec Filings
- 6/27/24 - Form DEFA14A
- 6/13/24 - Form DEFA14A
- 6/13/24 - Form DEF
- BAH's page on the SEC website