A Note for Your Credit Union: IRA Changes with the New IRS Retirement Legislation

REVISED

With the passing of the new SECURE Act of 2019, we evaluated CU*BASE tools used for working with IRA accounts.  Specifically, we looked at tools for making contributions and for handling member Required Minimum Distributions, since the RMD age was raised from 70 ½ to 72, and contributions to Traditional IRAs are now allowed past 70 ½.

NOTE: Remember these changes apply only to members who haven’t already turned 70 ½ prior to 2020.

At this point we do not believe any software changes are necessary in the short term.  We will be looking at possible report enhancements and will also change year-end processes in time for the creation of 2021 IRA balance file records next year.

Click here to review our PDF, which includes tips on adapting how you use existing CU*BASE tools, in light of these changes.

How Do I Request Upload/Download Permissions for CU*BASE?

How Do I Request Upload/Download Permissions for CU*BASE?

Need to grant upload/download permissions in CU*BASE to one of your employees?  Or need to review which employees currently have the ability to perform these actions? Visit the CU*Answers store today and complete a request form.  You will need to provide the following when submitting the request: Authority needed Employee name CU*BASE User ID Signature… Read more »

Aug 10, 2022

Conversations on Human Resources – A CU*Answers Collaboration Group

Conversations on Human Resources – A CU*Answers Collaboration Group

CU*Answers is excited to announce our new Cooperate Resource Group focused on Human Resources!  This group will provide a collaborative platform for individuals throughout the network to connect on various matters such as: Recruitment strategies Policy sharing Job description assistance Wellness initiatives Benefit plan designs and cost-saving ideas HRIS providers And more! The Cooperative Resource… Read more »

Aug 9, 2022

Join Us for Asterisk Intelligence Week, Hosted in Las Vegas, Nevada!

Join Us for Asterisk Intelligence Week, Hosted in Las Vegas, Nevada!

Join the Asterisk Intelligence team for several educational events, hosted at the Innovation Center in Las Vegas, Nevada! Between Monday, September 12th and Wednesday, September 14th, we will be hosting on-site training at the CU*Answers Innovation Center.  Then, on Thursday, September 15th, we will be hosting a series of webinars.  During these courses, we will… Read more »

Aug 9, 2022

MOP (Membership Opening Process) 2.0 is Available for Credit Unions to Launch Today!

MOP 2.0 includes the following updates for your credit union: New updated look/feel of your credit union MOP site, including a new background header image that your credit union can include while a member is applying. State filtering – your credit union can now limit what states members are opening their memberships through MOP. eSign… Read more »

Aug 8, 2022