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RXI WeeklyMay 5, 2014
Blacks In Government Region XI
Executive Committee
Shirley A. Jones, Esq., President
Marion Allen, 1st Vice President
Jesse Sharpe, 2nd Vice President
Marie Perry, Recording Secretary
Barbara Johnson-Cox, Corresponding Secretary
Rochelle Bryant, Treasurer
Kenneth Keys, Financial Secretary
John Hunter, Parliamentarian
L. Johnson/W. Speight,
Sergeant-At-Arms
CLICK HERE FOR COMMITTEE REPORTS
A Message From The PresidentMay is membership month for our organization so what better time than now to discuss the benefits of membership. Don't worry, I'll get back to the art of negotiation in this column next week.
To start, BIG provides free training to its members so that we can all succeed in our individual endeavors. Our upcoming Regional Training Conference (RTC), spearheaded by Region XI Council (RXIC) 1st Vice President Marion Allen and the Programs and Education Committee, will offer sessions on career development, Equal Employment Opportunity (EEO), and financial planning, all in one day, all free of cost. Moreover, many of our chapters have accepted the pledge to also offer training in house at their agencies. VA Headquarters, USAID, Tri-City, GAO-USACE, FCC Benjamin Hooks, and Pentagon BIG Chapters all regularly host sessions on communication skills, time management, appraisal writing, and pathways to the Senior Executive Service (SES).
BIG shares valuable information with our members. This RXIC Weekly, put together with pride each week by Kristina Williams with our Coast Guard BIG Chapter, offers important career development advice, job announcements, information on upcoming local activities of interest to government employees, and timely advice from legal and financial experts. And, our National Telecommunications Chair The Honorable Leonard Stone scours news publications across the country to provide important information on a daily basis.
BIG provides an important avenue for mentoring and networking. Our active membership includes government employees at all grade levels and in all positions who come together regularly for our monthly meetings and special programs and who make themselves available to share career development advice and job openings with our young emerging leaders in the government. And, as evidenced by the line-up for our RTC, we have the support of government officials who are ready and willing to give of their free time to share advice on how to move your career to the next level.
Member of The Week Noel Cox, Department of Labor BIG Chapter
If you have information to submit to the weekly announcements send to: [email protected] by COB Thursday for posting the following week.
RXI WeeklyLast but definitely not least, BIG continues to provide both direct and indirect advocacy for our members. With the expertise of National EEO Committee Chair David Prince, Region XI EEO Committee Chair Carolyn Thompson, and dedicated Chapter EEO Committee Chairs like Noel Cox with our Department of Labor BIG Chapter, Lawrence Williams with our USAID BIG Chapter, Wesley Jarmon with our FCC Benjamin Hooks Chapter, and John Hunter with our FMS BIG Chapter, our members across the Region and across the country have very knowledgeable EEO and Union advisors at their disposal to assist them when their hard work doesn't get them all that they deserve or if they find themselves confronting prohibited personnel practices or hostile work environments. And, if paid legal representation is ultimately needed, members can check the national website for our attorney referral list, apply for an attorney assistance grant, and/or reach out directly to mission partner, Tully Rinckey PLLC, the firm that regularly provides our "Ask the Lawyer" column and otherwise offers benefits to BIG members.
The benefits that I have listed here are not theoretical. They are a sample of the real programs and services that are available to BIG members because of the dedication of other BIG members, some of whom I have named here. But, we could be doing so much more with more members. That's because there's power in numbers. In this instance that's not just a nice cliché. It's a simple reality that all nonprofits face. The more manpower and the more funding you have, the more good works you can do. So, if you are reading this and you're not a member, won't you join us and reap the benefits of membership and help us provide even more. If you are reading this and you are already a member, won't you join me during membership month in sharing with others all the benefits of a BIG membership.
Shirley A. Jones, Esq.Region XI Council President
Notice of May 2014 Council MeetingSaturday, May 10, 2014,
10:00 a.m.
May is Membership Month! Calling all members! Calling all members! Regional Representatives, officers, members, and supporters alike are encouraged to attend our May Council meeting and information sharing session which will include our regular Council business, a continuation of our Regional Representatives and Officer Leadership training, as well as an overview of chapter activities around the Region during our "chapter successes" segment of the agenda. As always, please remember to bring your government identification for ease of entry into the NOAA building at 1325 East-West Highway, Silver Spring Maryland, located conveniently adjacent to the Silver Spring metro stop and with free parking adjacent thereto as well. Meetings start promptly at 10 am in the 2nd floor conference room.
The U.S. Census Bureau
The U.S. Census Bureau is hiring 1,000 field staff for the 2014 Census Test in Montgomery County and the District of Columbia. These temporary positions will run from June 23 to September 25 and pay $14-$21.50 per hour.
For more information on how to apply, please call 1-888-480-1639.
Featured Job Announcement
If you have information to submit to the weekly announcements send to: [email protected] by COB Thursday for posting the following week.
RXI Weekly DISCLAIMER: The information contained herein is for the sole purpose of information and education. All information published online by the BIG
Region XI is subject to change without notice. BIG Region XI is not responsible for errors, accuracy or use of the information contained herein.
Date: May 06, 2014 02:30PMLocation: SD-342, Dirksen Senate Office Building
AgendaThis hearing seeks to examine the state of the federal workforce, and the impact of factors such as the federal government shutdown, sequestration, and hiring and pay freezes on employee morale, productivity and efficiency and agency recruitment and retention efforts. It will also discuss ongoing efforts by agencies with the highest and lowest job satisfaction rates, as well as innovative programs and actions by agencies to overcome the ongoing challenges of recruiting and retaining a highly capable and qualified workforce.
WitnessesPanel I• The Honorable Katherine Archuleta, Director, U.S. Office of Personnel Management• The Honorable Carol Waller Pope ,Chairman, Federal Labor Relations Authority• Jeri L. Buchholz, Assistant Administrator for Human Capital Management, National Aeronautics and Space Administration• Paige Hinkle-Bowles, Deputy Assistant Secretary of Defense for Civilian Personnel Policy, U.S. Department of Defense
Panel II• J. David Cox, National President, American Federation of Government Employees• Colleen M. Kelley, National President, National Treasury Employees Union• Carol A. Bonosaro ,President, Senior Executives Association• Max Stier, President and Chief Executive Officer, Partnership for Public Service
Senate Hearing: A More Efficient and Effective Government: Cultivating the Federal WorkforceSubcommittee on the Efficiency and Effectiveness of Federal Programs and the Federal Workforce
Guests: John J. Oliver and Denise Rolark BarnesDate: Saturday, May 17, 2014 at 2:30 PMLocation: Newseum’s Knight TV Studio
On the opening weekend of the Newseum's new exhibit, "One Nation With News for All," Afro-American Newspapers publisher John J. Oliver and Washington Informer publisher Denise Rolark Barnes talk about the state of the African American press.The new exhibit, which tells the dramatic story of how immigrants and minorities used the power of the press, highlights the role of the black press as it crusaded against racism and injustice, mobilizing support for what became the civil rights movement.
Oliver is the chairman of the board, CEO and publisher of the Afro-American Newspapers, founded in 1892, which publishes newspapers in Washington and Baltimore. Barnes joined the staff of The Washington Informer in 1980 as managing editor. The newspaper was founded in 1964 to highlight positive images of African Americans in the Washington area.
The program is free with regular paid admission. Seating is on a space-available basis.
Inside Media: The African American Press
From left: John J. Oliver and Denise Rolark Barnes
If you have information to submit to the weekly announcements send to: [email protected] by COB Thursday for posting the following week.
“Advancing Skills for Leadership in a Changing Government Paradigm”
2014 Region XI Regional Training Conference (RTC)REGISTRATION IS OPEN
®
KEYNOTE SPEAKER(Retired) Col. Gerald D. Curry, USAF, Chief of Staff Defense Security ServiceIndustrial Security Field Operations (ISFO)Author of the book “Striving for Perfection Developing Black Officers.”
Saturday, May 17, 20149:45am – 4:00pmNOAA Auditorium1301 East-West HighwaySilver Spring, MD 20910Registration begins at 9:00am Preferred registration method on back
Training TracksCareer DevelopmentEqual Employment OpportunityFinancial Management
Career Development Track“An SES Perspective on the Pathway to Leadership” Senior Executive Service Panel Discussion
Equal EmploymentOpportunity Track
Financial ManagementTrack
ClosingPlenarySpeaker
Sajeel S. Ahmed, Director
Facilities Services Directorate (FSD) Defense Pentagon
J. David Reeves,Deputy Assistant Secretary (HUD)
Immediate Past National President, Blacks In Government
Lori Bledsoe, Manager, Affirmative Employment, Office of Equal Employment Opportunity, Pension Benefit Guaranty Corporation – “EEOC Reporting Requirements for Federal Agencies” An Overview of Management Directive 715 and 462 Reports.
Rita Bailey, CEO, Affordable Benefits Solutions, Inc. – “Understanding Your Federal Benefits for the New Retirement Climate.”
E. Faith Bell, Director Management Services/Information TechnologyInternal Revenue Service
Dr. Lenora P. Gant, Senior Advisor
STEM Workforce Initiative National Geospatial Intelligence Agency
TO REGISTER FOR THE 2014 REGION XI REGIONAL TRAINING CONFERENCE:
RSVP FOR REGISTRATION AND NETWORKING LUNCHEON BY COB WEDNESAY, MAY 14, 2014 via email at [email protected]
Please provide your complete name, agency, chapter and email. For your convenience, a free continental breakfast will be served and lunch available for $5.00 per person. Payment for lunch accepted by PayPal account at:https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=YYLYE3FMM9APY
This training is FREE and OPEN to all BIG members and prospective members (may join onsite). An ID is required. Metro Red Line exit @ Silver Spring Metro Stop.FREE parking garage is available.
CONTACT
Marion Allen, Region XI Council,1st Vice President and Programs & Education Committee Chair at [email protected]: (240) 402-1584 or Cell: (301) 848-6779
Blacks In GovernmentRegion XI Council – P. O. Box 2931
Washington, D.C. 2 0013-2931(202) 465-5852 FAX (202) 512-3445
TO REGISTER FOR THE 2014 REGION XI REGIONAL TRAINING CONFERENCE:
RSVP FOR REGISTRATION AND NETWORKING LUNCHEON BY COB WEDNESAY, MAY 14, 2014 via email at [email protected]
Please provide your complete name, agency, chapter and email. For your convenience, a free continental breakfast will be served and lunch available for $5.00 per person. Payment for lunch accepted by PayPal account at:https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=YYLYE3FMM9APY
This training is FREE and OPEN to all BIG members and prospective members (may join onsite). An ID is required. Metro Red Line exit @ Silver Spring Metro Stop.FREE parking garage is available.
CONTACT
Marion Allen, Region XI Council,1st Vice President and Programs & Education Committee Chair at [email protected]: (240) 402-1584 or Cell: (301) 848-6779
Blacks In GovernmentRegion XI Council – P. O. Box 2931
Washington, D.C. 2 0013-2931(202) 465-5852 FAX (202) 512-3445
TO REGISTER FOR THE 2014 REGION XI REGIONAL TRAINING CONFERENCE:
RSVP FOR REGISTRATION AND NETWORKING LUNCHEON BY COB WEDNESAY, MAY 14, 2014 via email at [email protected]
Please provide your complete name, agency, chapter and email. For your convenience, a free continental breakfast will be served and lunch available for $5.00 per person. Payment for lunch accepted by PayPal account at:https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=YYLYE3FMM9APY
This training is FREE and OPEN to all BIG members and prospective members (may join onsite). An ID is required. Metro Red Line exit @ Silver Spring Metro Stop.FREE parking garage is available.
CONTACT
Marion Allen, Region XI Council,1st Vice President and Programs & Education Committee Chair at [email protected]: (240) 402-1584 or Cell: (301) 848-6779
Blacks In GovernmentRegion XI Council – P. O. Box 2931
Washington, D.C. 2 0013-2931(202) 465-5852 FAX (202) 512-3445
REG
ION
TRAI
NING
If you have information to submit to the weekly announcements send to: [email protected] by COB Thursday for posting the following week.
RXI Weekly DISCLAIMER: The information contained herein is for the sole purpose of information and education. All information published online by the BIG
Region XI is subject to change without notice. BIG Region XI is not responsible for errors, accuracy or use of the information contained herein.
Region XI is doing BIG Things!
BIG MEMBERS:Please encourage your members to join our mailing list. We need your support to help increase BIG’s positive visibility within the government community and beyond. The advice in the President’s remarks, the job announcements, tips from experts, and the event announcements contained herein are indeed useful to members. Members may join by emailing: [email protected]
Members can sign up separately for the National office newsblasts by visiting the national website at www.bignet.org and opting in for those announcements.
2014 National Delegates Assembly -- Call for Resolutions and Amendments to the National Constitution
1. Friday, May 1 - Individual members or Chapters may e-mail proposed amendments to the National Constitution and resolutions to [email protected], Chair, RXI Bylaws and Resolutions Committee. The Committee will review and make recommendations re adoption to the RXI Council (May 10th meeting). Please note this activity is only required if you want council endorsement of your f proposed amendment(s) and/or resolution(s). Please see requirements for submission to BIG National.
2. Friday, May 9 and Thursday, May 15 (postmarked) – Deadline for proposed amendments and resolutions, respectively, to the National Office. Please see further requirements at http://www.bignet.org/regional/delegates/correspondence.htm.
Submitted by:Shirley SuggsRXI Chair, Bylaws and Resolutions Committee
University of Maryland University College Alliance Offers Federal Employees Discounted Rates to Pursue Post-Secondary Education
OPM's alliance with the University of Maryland University College (UMUC), offers Federal employees and their families discounted tuition rates to pursue post-secondary education. For more information, please visit: umuc.edu/opmlearning.
Per your convenience, this memo is also available at: http://chcoc.gov/transmittals/TransmittalDetails.aspx?TransmittalID=6084
Blog post: http://www.opm.gov/blogs/Director/2014/4/17/An-Educational-Alliance/
News release: http://www.opm.gov/news/releases/2014/04/us-office-of-personnel-management-and-university-of-maryland-university-college-alliance-offers-federal-employees-discounted-rates-to-pursue-post-secondary-education/
If you have information to submit to the weekly announcements send to: [email protected] by COB Thursday for posting the following week.
RXI Weekly DISCLAIMER: The information contained herein is for the sole purpose of information and education. All information published online by the BIG
Region XI is subject to change without notice. BIG Region XI is not responsible for errors, accuracy or use of the information contained herein.
RXI Council – 2014 SHIRT ORDERS PRE-ORDERS DUE BY SATURDAY MAY 10th, 2014
$20.00 per shirt (additional charge for sizes over XL)*Women Sizes are true to size and run smaller than men*
2014 (Re-order Request)
Spring Green (Black logo) (Optional) Purple – Gold Logo)
Style: Outer Banks® - 6.5-Ounce Pique Knit Sport Shirt100% cotton pique; welt collar and cuffs, double-needle round-hemmed bottom.
Two-button placket with pearl buttons (men) – Sizes S – 4XLFour-button placket with pearl buttons (women) – Sizes S – 3XL
Name:
Chapter:
Email Address:
Phone Number:
(MEN) XS__ SM__ MED__ LG__ XL__ 2X__ 3X__ 4X__ (add $2.95) (add $4.95) ( add $6.95)
*(WMN) XS__ SM__ MED__ LG__ XL__ 2X__ 3X__ (add $2.95) (add $4.95)
Total Cost: (Make check payable to: RXI Council)Mail Check to: Michael McCrimmon, RXI Fundraising Chair
Blacks In Government – Region XI CouncilPost Office Box 2931Washington, DC 20013-2931
If you have information to submit to the weekly announcements send to: [email protected] by COB Thursday for posting the following week.
RXI Weekly DISCLAIMER: The information contained herein is for the sole purpose of information and education. All information published online by the BIG
Region XI is subject to change without notice. BIG Region XI is not responsible for errors, accuracy or use of the information contained herein.
Coast�Guard�Chapter�of�
Blacks�In�GoVernment�
10TH Anniversary�Scholarship�Celebration
Douglas�A.�Munro�Coast�Guard�Headquarters�Building
Thursday,�May�15,�2014��|�1200�Ͳ1400
Ceremonial�Entrance,�Level�G
R.S.V.P.��the��10th Anniversary�Scholarship�Committee�by�May�1,�2014�
[email protected] or�[email protected]
Refreshments�will�be�served
The��Coast�Guard�Chapter�of�BIG�has�provided�approximately�56�scholarships�to�graduating�high�school�students�who�plan�to�pursue�a�college�education.��
We�invite�you�to�celebrate�this�special�occasion�with�us.
If�you�know�an�awardees,�please�have�them�contact�the�10th Anniversary�Scholarship�Committee�by�May�1,�2014�
Find�Us�on�Facebook:
www.facebook.com/bigcgchapter
If you have information to submit to the weekly announcements send to: [email protected] by COB Thursday for posting the following week.
RXI Weekly DISCLAIMER: The information contained herein is for the sole purpose of information and education. All information published online by the BIG
Region XI is subject to change without notice. BIG Region XI is not responsible for errors, accuracy or use of the information contained herein.
NOAA Chapter Blacks In Government Presents
2014 Black History Theme:Civil Rights in America
EXCITING, FUN, & EDUCATIONAL EVENTTenth Anniversary of
Black History Trivia Game “BATTLE OF THE (NOAA) LINE OFFICES”
NOAA SCIENCE CENTERWednesday, May 14, 2014
11:00 a.m. – 1:00 p.m.
NOAA Career Discussion NOAA Leaders and Raymond Educational Campus (DC Public School) 10:15 am to 10:45 am
If you have information to submit to the weekly announcements send to: [email protected] by COB Thursday for posting the following week.
RXI Weekly DISCLAIMER: The information contained herein is for the sole purpose of information and education. All information published online by the BIG
Region XI is subject to change without notice. BIG Region XI is not responsible for errors, accuracy or use of the information contained herein.
Community Outreach 2nd Annual Golf
Tournament16 MAY 2014
Ospreys Golf Club located at 401 Belmont Bay Drive Woodbridge, Virginia
Check-In Time – 6:30AMTee Time – 8:00 AM
4 member team: Cost Per Player – $75.00 includes Golf Cart/Cart Signage Range Balls Shotgun (Best Ball) Tournament ScoringRaffle (Mulligans)Awards for 1st, 2nd, & 3rd Place Finishers Closest to the Hole-Contest Longest Drive-Contest
To register or for information, contact Kevin Smith at 760-717-0399, Andrew Holmes at 910-333-4634, Herb Edwards at 540-226-9600, or Curtis Neal at
703-203-3438, or email [email protected] or visit www.bigatthecrossroads.org or http://quantico-nnoa.org/
REGISTRATION DEADLINE
5 MAY 2014
Blacks in Government (BIG) at the Crossroads, Quantico Chapter, a 501(c) 3 non-profit organization, has partnered with the National Naval Officers Association (NNOA), Marine Corps Base Quantico Chapter, in effort to support the community with donations and awarding scholarships within Prince William, Spotsylvania and Stafford counties. Come out and support OUR community in a BIG/NNOA way!
If you have information to submit to the weekly announcements send to: [email protected] by COB Thursday for posting the following week.
RXI Weekly DISCLAIMER: The information contained herein is for the sole purpose of information and education. All information published online by the BIG
Region XI is subject to change without notice. BIG Region XI is not responsible for errors, accuracy or use of the information contained herein.
If you have information to submit to the weekly announcements send to: [email protected] by COB Thursday for posting the following week.
RXI Weekly DISCLAIMER: The information contained herein is for the sole purpose of information and education. All information published online by the BIG
Region XI is subject to change without notice. BIG Region XI is not responsible for errors, accuracy or use of the information contained herein.
WASH., DC - CHICAGO - FLAGSTAFF - LAS VEGAS - LOS ANGELES - SAN ANTONIO - NEW ORLEANS - WASH., DC
CROSS COUNTRY ON AMTRAK
JULY 7 - 24, 2015
FOR INFORMATION CONTACT: Cynthia Brady (301) 808-4799; Gloria Casteel (202) 874-6915
PROCEEDS TO BENEFIT THE FMS-BIG SCHOLARSHIP PROGRAM
Hotel Accommodations: 2-nights in Chicago 2-nights in Flagstaff 2-nights in Las Vegas
2-nights in Los Angeles 2-nights in San Antonio 2-nights in New Orleans
Optional Tours: Chicago - DuSable Museum Flagstaff - Grand Canyon Los Angeles - Hollywood
San Antonio - Alamo, Riverwalk New Orleans - Bourbon Street
FLGDC.
CHI
ALL ABOARD! FMS-BIG CHAPTER PRESENTS CROSS COUNTRY ON AMTRAK
FLGCHI
VEGAS DC
LA
SAT NOL
COST PER PERSON $1990.00 (DOUBLE OCC.) $2620.00 (SINGLE OCC.) $1890.00 (TRIPLE OCC.) Seniors (62 & over) $50.00 less Children (14 & under) $200.00 less
Includes:
- Rail Transportation- Hotel Accommodations- Transfers to and from hotels and train station
$150.00 Deposit Due: 6/06/14Final Payment Due: 5/10/15
FROM DATE TIME TO DATE ARRIVE
WASH., DC 7/0715 4:05 PM CHICAGO, IL 7/08/15 8:45 AM
CHICAGO, IL 7/10/15 3:00 PM FLAGSTAFF, AZ 7/11/15 8:51 PM
*FLAGSTAFF, AZ 7/13/15 12:00 PM *LAS VEGAS, NV* 7/13/15 4:30 PM
*LAS VEGAS, NV* 7/15/15 1:30 PM *LOS ANGELES, CA* 7/15/15 6:00 PM
LOS ANGELES, CA 7/17/15 10:00 PM SAN ANTONIO, TX 7/19/15 4:50 AM
SAN ANTONIO, TX 7/21/15 6:25 AM NEW ORLEANS, LA 7/21/15 9:40 PM
NEW ORLEANS, LA 7/23/15 7:00 AM WASH., DC 7/24/15 9:53 AM
* COACH TRANSPORTATION, NO RAIL SERVICE TO LAS VEGAS,
If you have information to submit to the weekly announcements send to: [email protected] by COB Thursday for posting the following week.
RXI Weekly DISCLAIMER: The information contained herein is for the sole purpose of information and education. All information published online by the BIG
Region XI is subject to change without notice. BIG Region XI is not responsible for errors, accuracy or use of the information contained herein.
The Center for ADR's July 7-11 40-Hour Mediation Training
Ethics in End of Life and Grief Counseling
2014 Professional Education
3 CE Credits $45
Crossing the Jordan: Exploring Ethical and Spiritual Aspects of African Americans at the
End of Life
Time is running out to register for this interactive and informative presentation. Our expert speakers, Brandon Brewer, M.Div., and Jessica Talley, LCSW-C, will examine the disparity in the utilization of of hospice services among African Americans and share ideas on how to facilitate the professional-client relationship. To learn more.
Location is near I495/95 and has free parking. Presenters: Rev. C. Brandon Brewer, M. Div., is the ChaplainJessica Talley, LCSW-C, works with Hospice of the
When:Thursday, May 15, 20148:30 a.m. - Noon Where:Chesapeake Life Center, Hospice of the Chesapeake9500 Arena Drive, Suite 250Largo, Maryland 20774 What:An interactive and informative presentation you will not want to miss. 3 Ce credits in ethics for social workers licensed in Maryland. Course approved by Maryland Board of Professional Counselors and Therapists.
If you have information to submit to the weekly announcements send to: [email protected] by COB Thursday for posting the following week.
RXI Weekly DISCLAIMER: The information contained herein is for the sole purpose of information and education. All information published online by the BIG
Region XI is subject to change without notice. BIG Region XI is not responsible for errors, accuracy or use of the information contained herein.
If you have information to submit to the weekly announcements send to: [email protected] by COB Thursday for posting the following week.
Estate Planning for Your TSP, 401k or IRA
Provided By Karen Scott Mims, Esq., Harbour Pointe Wealth Management
While the term “estate planning” should be utilized to reference a process for the management, disposition and legacy planning of one’s assets, instead its mention produces a variety of sentiments ranging from unfamiliarity of the concept to the notion that “it’s something only for the wealthy”.
Yet, if you survey the majority of people who own their homes, vehicles or substantial retirement assets, they have very clear thoughts about the management and disposition of these assets. For instance, they can with relative ease, identity the person(s) who should be designated to manage these assets if they were temporarily unable to do so during their lifetime. Similarly, they have probably considered a beneficiary for those assets and have thought about bloodline protection, i.e. designating only lineal descendants as beneficiaries and/or controlling a lump sum distribution of monetary assets through the implementation of criteria, whether age or condition based, to prevent post mortem waste of such hard earned assets by financially or emotionally irresponsible beneficiaries. While some have formulated a written estate plan for their primary residence, few understand the tax ramifications of not doing so for their retirement funds which have accumulated in their 401k, TSP (thrift savings plan) accounts or IRA accounts.
We recommend a total and comprehensive asset based estate plan which include the 5 layers of estate planning and includes planning for “qualified” or tax deferred funds to avoid the tax land mines that you may encounter in the management and ultimate disposition of these funds.
Many people do not exhaust their retirement savings during their lifetimes and these “qualified” fund accounts are often passed on to beneficiaries. Typically, these types of funds escape the estate planning process and the custodian mandates a lump sum disbursement outright to the beneficiary. Imagine the scenario in which a $200,000 account is suddenly reduced by $80,000 because of applicable federal and state income taxes. While different tax laws govern for spouse and non-spouse beneficiaries, both types of beneficiaries can benefit from having an “IRA Trust” designed as the beneficiary of their “qualified funds”. Under this type of estate plan, the “qualified” funds are ultimately disbursed to the intended beneficiaries with minimal tax consequences, creditor and bloodline protection and preservation without the risk of becoming marital property.
Ask The Expert
