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THE MALDEN ADVOCATE–Friday, May 29, 2020 Page 17 SPORTS | FROM PAGE 14 riors team kicked off its very fi rst season at the Division 1 level this past spring, only to see the season cut short by the pandemic. “We are also looking for that high-character kid who works hard in the classroom.” “It’s going to be different this summer in recruiting, for sure, but a lot’s going to be the same,” Barese added. “We’ve seen kids being more proactive this year than in past years. We have received a lot more video this year than ever before, and that’s because we did not have a chance to see any of these guys in the spring.” “But we are being positive and expecting there will be good opportunities to see a lot of players later this summer and probably into the fall,” Barese added. “I can’t wait to go spend 12 hours at a ballpark watching a showcase or a tournament and scouting players. I speak for a lot of coaches on that, too.” Both Barese and Rocco agreed that a lot of the most heavily recruited 2021 players have already made verbal commitments, including to their Division 1 and 2 programs, respectively. But both also acknowledged the door is still very much open. Recruiting process will probably go later “This [recruiting] process is defi nitely going to go later than in the past...into the fall BEACON | FROM PAGE 15 Changes To Required Minimum Distribution Rules T he Secure Act (Setting Every Community Up for Retirement Enhancement) may very well have the largest impact on retirement accounts since the passage of the Pension Protection Act in 2006. Although the Secure Act did away with the IRA stretch provisions that allowed benefi ciaries to stretch out distributions from the IRA account over their lifetimes, it also increased the age at which IRA account holders are required to take out minimum distributions (RMD’s). Section 114 of the Act increases the age at which an IRA owner or participant in an employer-sponsored retirement plan must begin taking RMD’s from 70 ½ to 72. Participants in 401(k), 403(b) and similar Non-IRAbased employer-sponsored plans will still be able to delay taking RMD’s provided they are still working and meet the requirements of Internal Revenue Code Section 401(a)(9). The new required beginning date for taking RMD’s is now April 1st following the year in which the IRA owner reaches age 72. If you choose to take an RMD in the following year on or before April 1st , you will still have to take another RMD in that same year representing the age 73 RMD. This would double up your RMD for that particular year possibly putting you in a higher income tax bracket. Therefore, it might not be to your advantage to defer taking your RMD in the year you actually turn age 72. You might also get hit with IRMAA (Income Related Monthly Adjustment Amount) thereby increasing the amount of your monthly Medicare Part A premium. For anyone that actually turned 70 ½ in 2019, the RMD’s still need to be taken in 2020 if not already taken in 2019. The Secure Act does not allow those individuals to delay RMD’s until age 72. The life expectancy tables have not changed under the Secure Act. These are the tables used to determine the amount of the RMD to be taken each year. Some individuals may wish to take more out of their IRA accounts than the RMD’s. Why? For Estate/Medicaid planning in order to transfer assets to children. Parents may also be in a low tax bracket so taking more money out of IRA accounts now might make sense. Income tax rates could increase with future changes in the tax law. Someone has to pay the income taxes on IRA distributions. Sometimes it makes more sense for the IRA owner to pay the tax and not the children. Asset protection is always a consideration as maybe older Americans are very concerned about nursing home placement and do not have long-term care insurance. They are looking to transfer assets out of their name sooner than later. Joseph D. Cataldo is an estate planning/elder law attorney, Certifi ed Public Accountant, registered investment advisor, AICPA Personal Financial Specialist and holds a masters degree in taxation. on unemployment and countless shuttered small businesses, they found a way to make sure their pet projects were purchased in an election year.” “Families are having a hard time paying their rent and mortgages,” continued Craney. “Workers are on unemployment. Countless brick and mortar retail shops, restaurants and lodging destinations have been forced to keep their doors shut. Instead of focusing on these worthy concerns, our Statehouse leaders dug up something from last January’s to-do pile and secured their own future during an election year.” (A “Yes” vote is for the bill. A “No” vote is against it.) Rep. Paul DonatoYes Rep. Steven Ultrino Yes $101 MILLION CONSOLIDATED AMENDMENT (H 4708) House 138-18, approved a consolidated amendment adding $101 million to the cost of the $1 billion-plus information technology bond. Members fi led 189 amendments to the bill, but none were voted on individually. Two amendments were withdrawn by their sponsors and the other 187 were rolled into this one big consolidated amendment. HOW LONG WAS LAST WEEK'S SESSION? Beacon Hill Roll Call tracks the length of time that the House and Senate were in session each week. Many legislators say that legislative sessions are only one aspect of the Legislature's job and that a lot of important work is done outside of the House and Senate chambers. They note and probably early winter,” Barese said. “We encourage players to stay active and continue what they are doing.” All three coaches encouraged baseball prospects to contact coaches of schools they are interested in, particularly schools they researched to determine if they, the players, appear to be a good fi t for that school. Videos of any kind are also acceptable, whether it’s a workout or game fi lm. “Just use your heads, though,” Coach Pyne advised. Amendment supporters said the projects and provisions in the amendment were important items. They noted there is nothing wrong with these local earmarks where members propose including in the bill worthwhile projects in their districts. Amendment opponents said many of the earmarks are not urgently needed. They pointed to the state’s projected revenue loss of up to $8 billion in next year’s budget as a result of diminishing income tax revenues during COVID-19 when the Bay State moved the tax return fi ling deadline from April 15 to July 15 in addition to the loss of sales tax and other revenue as a result of business shutdowns. They noted that state tax collections dropped in April by more than $2.3 billion compared to April 2019. (A “Yes” vote is for the $101 million. A “No” vote is against it.) Rep. Paul DonatoYes Rep. Steven Ultrino Yes “The backwards-hat-wearing kid who uses the language he uses with friends that’s not fi t for public ears is not going to help himself at all. Be smart about what you are projecting when sending a video.” “Stay positive,” Coach Rocco said. “There is absolutely a spot for everyone at the college level for players who want to work to get better, are coachable and are willing to work in the classroom. You just have to keep searching to fi nd that right match.” that their jobs also involve committee work, research, constituent work and other matters that are important to their districts. Critics say that the Legislature does not meet regularly or long enough to debate and vote in public view on the thousands of pieces of legislation that have been fi led. They note that the infrequency and brief length of sessions are misguided and lead to irresponsible late-night sessions and a mad rush to act on dozens of bills in the days immediately preceding the end of an annual session. During the week of May 1822, the House met for a total of nine hours and 19 minutes while the Senate met for a total of six hours and 20 minutes Mon. May 18 House 11:05 a.m. to 11:16 a.m. Senate 11:24 a.m. to 11:46 a.m. Tues. May 19 No House session No Senate session Wed. May 20 House 11:03 a.m. to 2:01 p.m. No Senate session Thurs. May 21 House 11:03 a.m. to 5:13 p.m. Senate 11:20 a.m. to 5:18 p.m. Fri. May 22 No House session No Senate session Bob Katzen welcomes feedback at bob@beaconhillrollcall.com ~ Home of the Week ~ SAUGUS...Perfect starter home in this well cared for five room Ranch featuring spacious living room, two bedrooms, eatin kitchen with pantry area, convenient first floor laundry room, central air, propane gas for cooking and hot water, nice lot with oversized storage shed, vinyl sided, side street location in desirable Golden Hills neighborhood. Great condo alternative! Offered at $339,900 335 Central Street, Saugus, MA 01906 (781) 233-7300 View the interior of this home right on your smartphone. View all our listings at: CarpenitoRealEstate.com

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