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January 3, 2013

Qualified Charitable Distributions Extended under the Fiscal Cliff Bill- H.R.8.

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QCD Extended under “fiscal cliff bill”. H.R.8. American Taxpayer Relief Act of 2012 (the “fiscal cliff bill”) extended the qualified charitable distributions (QCD) provision to December 31, 2013. For details on the QCD rules, including special provisions made under the fiscal cliff bill, please see our article Donating Retirement Assets to Charities.

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Qualified Charitable Distribution (QCD)

Definition A distribution that is excludable from the distributee’s income, as a result of meeting the following requirements: It is made after the distributee reaches

Catch-up Contribution

Definition An additional contribution that can be made to a retirement plan by a participant who is at least age-50 by the end of the

Salary Deferral Contribution

Definition A contribution made pursuant to a participant’s election to have a portion of his/her salary/wages  contributed to his/ her employer sponsored plan  rather than

Key Employee

Definition An employee who, at any time during the plan year, is (i) an officer of the employer having an annual compensation greater than $180,000,

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