Defined contribution plans, also known as 401(k) or 403(b) plans, are employer sponsored retirement plans that allow employees to contribute and save for retirement. In many cases, these plans are one of the most powerful wealth building vehicles available, especially if your employer offers a matching contribution. As such, it’s vital that you keep up to date on any changes to your retirement plan.

Helping your aging parents manage their retirement income can be complex, especially when Required Minimum Distributions (RMDs) are involved. Learn the rules, discover strategies to simplify multiple accounts, explore tax-smart moves like Qualified Charitable Distributions, and see how a financial advisor can help you create a smooth, stress-free income plan that supports your parents’ needs and protects their wealth.