About Buckhead reporter. (Sandy Springs, GA) 2007-current | View Entire Issue (March 2, 2020)
Linscomb & Williams is not an accounting firm. Subsidiary of Cadence Bank. Cadence Insurance and Investment Products: Not insured by FDIC. Not bank guaranteed. May lose value. Not insured by any Federal Government Agency. Not a bank deposit. Community | 19 MARCH 2020 ■ www.ReporterNewspapers.net would be enough help at each precinct in case there are slowdowns created by people confused with the new machines. Partitions are to be placed around the touch screens to provide privacy, Harris said. DeKalb County plans to add several more poll workers at each precinct to assist voters than in the past to limit potential backups. There will be one scanner for every 11 touch screens, which is expected to meet voter demand. None of the devices used to vote are connected to the internet, so no hacking can oc cur, Harris said. The machines don’t keep track of the ballot, Harris explained. It’s the scanner that reads the QR code from the paper that counts the ballot, she explained. The paper ballot is stored in a large ballot box attached to the scanner and if an audit of an election is needed, voting officials can unlock the ballot boxes to retrieve the paper bal lots. MARCH 24 IS PRESIDENTIAL PRIMARY, ATLANTA SPECIAL ELECTION DAY March 24 is Election Day statewide for the presidential primary races. The city of Atlanta also will hold a special election that day, seeking to reauthorize a 1% sales tax. In the primary election, voters can choose their favorite among the major- party contenders for president in advance of nomination votes at national party conventions. The Democratic ballot has a dozen candidates, some of whom have already withdrawn from the race. The Republican ballot has only incumbent Pres ident Donald Trump. Georgia holds open primary elections, meaning that a voter is free to choose ei ther the Democratic or the Republican ballot, regardless of their political affilia tion. Advance voting was scheduled to begin March 2. Within Atlanta, a ballot question seeks to extend the 1% Municipal Option Sales Tax, or MOST, that funds water and sewer projects. The MOST is set to expire later this year. Primary voters will have the MOST question on the same ballot. Nonpar tisan voters also can choose a ballot that has only the MOST question. For more information, see the Georgia Secretary of State’s “My Voter” webpage at mvp.sos.ga.gov/MVP. CITY SPRINGS THEATRE COMPANY i ’! / SISTER A C T MAY 1-10 MJS5GUIDE MARCH 6-15 JULY 10-19 ALL SHOWS AT THE BYERS THEATRE Tickets at CitySpringsTheatre.com WORTHWHILE CONVERSATIONS ARE WE STILL OK AFTER THE SECURE ACT? IS THERE REASON FOR CONCERN IN LIGHT OF THE RECENTLY ENACTED SECURE ACT? No, most people should continue to feel secure (pardon the pun). The financial media has enjoyed a field day describing the SECURE Act, which affects retirement accounts, as a game-changer. We have received questions from clients, but the group of people who need to modify their planning is a relatively small number. Although a bit of an oversimplification, it really boils down to just two main things. WHAT ARE THOSE TWO “MAIN THINGS”? The age at which you must start drawing down your retirement balances has been moved back to age 72. It was 70-1/2 previously. The new starting age applies to anyone not already 70-1/2 at the end of 2019. The later start improves planning flexibility tor people who might retire before age 72 but, because of other income sources, may not actually need immediate withdrawals from their retirement accounts. Phillip Hamman, CFA, CFP®, heads our Wealth Planning Committee. He describes it as: "They can develop an 'optimization strategy' for drawing down these accounts". YOU SAID THERE WERE TWO “MAIN THINGS”... The other important item generally affects beneficiaries of IRA accounts who are NOT the surviving spouse of the deceased account owner. Before the SECURE Act, these inheritors could slowly draw down these retirement accounts in installments over their entire lifetime. That ottered some great Sam Tortorici, CEO & Director, Cadence Bank, N.A., and President, Cadence Bancorporation, discusses the SECURE Act with Linscomb & Williams team members MaryJane LeCroy, CFP®, and Bill Kring, CFP® income tax planning flexibility. The SECURE Act generally shortens the withdrawal period to a maximum of 10 years. In certain cases, where families fully expect that retirement assets will pass to the next generation, planning should likely be updated. IS THERE A “BOTTOM LINE” HERE? Everyone needs good planning around configuring cash flow in retirement. If you have not focused on this area, we recommend sitting down with a financial advisor who is a fiduciary 100% of the time, like Linscomb & Williams. We have an experienced and fully-credentialed team and are available to meet in our office right here in Atlanta. LINSCOMB WILLIAMS WEALTH MANAGEMENT SINCE 1971 Atlanta Wealth dr Pension Team 2727 Paces Ferry Road SE Building Two, Suite 1475 Atlanta, Georgia 30339 770 333 0113 www.linscomb-williams.com CADENCE
