Provisions that Affect Retirement Plans

The SECURE Act 2.0 was signed into law in late December 2022. Out of the 100+ provisions contained in the bill, many have a direct effect on retirement plans (both IRAs and employer-sponsored retirement plans). In this article, we outline some of the provisions that affect retirement plan contributions and in turn, affect account owners’ or plan participants’ retirement savings strategies.

Changes to RMDs

The age for taking required minimum distributions (RMDs) had already been raised in the original SECURE Act to 72. Secure 2.0 raises the RMD age to 73 this year and starting in 2033, this will go up to age 75. SECURE 2.0 also reduces the penalty for individuals who fail to take an RMD, from 50% to 25%.

SECURE 2.0 eliminates RMDs for qualified employer Roth plan accounts beginning in 2024.

NOTE: For employees in workplace 401(k), 403(b), and 457(b) plans, designated Roth account assets will no longer be subject to pre-death RMD rules starting in 2024.

Increased Catch-up Contribution Limits

Taxpayers ages 50+

• IRAs: Individuals age 50 and up with Traditional and Roth IRAs have been stuck with maximum catch-up contributions of $1000 for years. However, starting in 2024, the IRS catch-up limit will automatically adjust for inflation in increments of $100.

• SIMPLE plans: the catch-up contribution limit is $3500 for 2023 (up $500 over last year).

• Qualified plans: Workers in 401(k), 403(b), and 457(b) retirement plans may now contribute an additional $7500 (on top of the annual federal limit of $22,500) in 2023.

Taxpayers ages 60-63

Starting in 2025, taxpayers who are 60-63 years old will be able to contribute more to their retirement plans as follows:

• Qualified plans: the greater of $10,000 or 150% of the standard catch-up contribution limit for 2024 (indexed annually for inflation).
  • Starting in 2026, the $10,000 will be adjusted for inflation annually.
  • Upon reaching age 64, the regular catch-up contribution limit applies.

• SIMPLE IRAs: the greater of $5,000 or 150% of the SIMPLE IRA catch-up contribution amount, indexed for inflation. 

High-earning taxpayers

For employees with more than $145,000 in wages, SECURE 2.0 now requires them to make catch-up contributions only to Roth accounts. This applies to 401(k), 403(b), and 457(b) government plans (excluding “special catch-up” contributions to 403(b) or 457(b) plans). Therefore, some employees who are 60-63 years old and are eligible to make larger catch-up contributions must make them to a Roth account. Those funds will be contributed with after-tax dollars but will be tax-free upon withdrawal. This rule becomes effective in 2024. 

SEP and SIMPLE IRAs, Qualified Plans: New Roth Feature

Employees may choose to treat employer contributions to these plans as Roth contributions if the employer permits. This is effective for 2023 and later taxable years.

The same goes for qualified 401(k) defined contribution plans, 403(b) plans, and governmental 457(b) plans; participants in these workplace retirement plans may treat employer matching and nonelective contributions as designated Roth contributions if this option is permitted by the plan design. 

Student Loan Payments and Employer Contributions

Effective in 2024, employees who are making student loan payments can also save for retirement. That’s because they may qualify for matching employer contributions in an employer-sponsored retirement plan (without having to make the contributions themselves).

In addition, matching contributions made on qualified student loan payments may be designated as Roth contributions. There are certain conditions regarding employer contributions, so we recommend you consult your plan administrator for guidance on this provision.

Hardship Withdrawals for 401(k) and 403(b) Plans

Employees will be permitted to take emergency distributions from their retirement account of up to $1000 once a year, starting in 2024. These withdrawals are to cover immediate financial needs or unforeseeable emergencies. Examples of these (for which the employee may self-certify with the plan administrator) are medical care, funeral, tuition, and home purchase or certain home repair expenses. The 10% early withdrawal tax will not apply to these distributions. Taxpayers who do not repay the distribution within a certain amount of time will be prohibited from taking another emergency withdrawal for three years. 

529-to-Roth Rollovers

Effective in 2024, some taxpayers will be allowed to roll over a 529 plan they have maintained for at least 15 years to a Roth IRA. There are many requirements and limited circumstances to qualify for this transaction. The lifetime limit on what may be rolled to the Roth IRA will be $35,000. 

401(k) Lost & Found

It is not unusual for employees to lose track of their 401(k) account when changing jobs; nor is it unusual for employers to end up with missing participants—former employees they cannot locate to distribute retirement benefits. The federal Department of Labor will be creating a searchable database within the next two years to help reconnect millions of 401(k) accounts with the individuals who are missing out on their unclaimed benefits.

Qualified Charitable Distributions

A qualified charitable distribution (QCD) is a transaction available to individuals ages 70-1/2 and older who wish to direct funds from a Traditional IRA to a qualified 501(c)3 charitable organization. Currently, the maximum contribution amount allowed is $100,000. This will change in 2024 when the maximum QCD amount will increase based on the inflation rate.

SECURE 2.0 broadens the charitable distribution field this year, with a one-time opportunity to distribute up to $50,000 (indexed for inflation) to fund a charitable remainder unit trust, charitable remainder annuity trust, or a charitable gift annuity.

Contact Next Generation with Questions About Your Self-Directed IRA

Whether your retirement savings are in a self-directed IRA, solo K, or other self-directed retirement plan, the team at Next Generation is here to help. If you have questions about how any of the SECURE Act 2.0 provisions may affect your self-directed plan, contact us at 888.857.8058 or NewAccounts@NextGenerationTrust.com.

Protecting Your Retirement Savings During a Market Downturn

Retirement Account Protection in a Time of Market Downturn

As we all know, the stock market has had a rocky road since early 2022, which is continuing today (late second quarter of 2023 at the time of this writing). Given world events, inflation, and an economy that runs in fits and starts, knowing how to treat one’s retirement plan during a market downturn is a $64,000 question for many investors.

Plan for retirement success: fund your retirement account

As we’ve said many times, save often! Contributing to your IRA or employer-sponsored plan as often as you can—and meeting contribution limits—will help you establish a solid base, even when the market gets a bit wonky. Don’t let that volatility scare you away from funding your retirement account consistently; stay the course with a funding strategy that works best for your current financial situation and your future retirement plans.

Avoid early withdrawals

Don’t give into the temptation to take distributions before age 59-1/2 during a downturn. Taking early withdrawals will trigger a 10% penalty plus the tax on that income. Remember, saving for retirement is a long-term game. Talk to your trusted advisor about making a shift in strategy perhaps, and let those funds continue to grow in your tax-advantaged retirement plan. If you are still working through your 60s, keep in mind that the age at which required minimum distributions from your retirement account must begin is newly set at age 73, effective this year.

Develop a plan for a comfortable retirement

These are elements to consider when planning for retirement; these help you create a retirement savings road map. They’re not only for periods of economic/market downturn—they are critical pieces of your retirement road map at any time.

• When you plan to stop working full time (and therefore, at what age you plan to retire) – remember, this is a road map and you can course-correct as needed

• When you plan to claim your Social Security benefits (at full retirement age or age 70), and how much your monthly benefit will be

• Part-time work during retirement years – if you will be working part-time after you say “I’m retired,” is that a part-time job with a different employer? A part-time arrangement with your current employer? Or will you do consulting or freelance work in your field as a 1099 independent contractor?

• Preferred lifestyle – what will you spend your money on?
  • Do you look forward to a more home-centric life?
  • Will you enroll in lifelong learning classes?
  • Are there hobbies to engage in (and which may need some money to enjoy)?
  • Is world travel on the retirement map?
  • Will you indulge in your love of theatre, concerts, museum visits, or other arts?
  • How often do you plan to dine out with friends and family? 

• Retirement residence – think about whether you will stay in your current home (and for how long), downsize, or move to a different part of the country (which may be more or less expensive than where you reside today)

• Remember to factor in potential medical expenses you may incur in later years — some estimates peg that amount at around $295,000 for the average retiree

Create a protective shield for your retirement savings: a self-directed IRA

Typical retirement accounts include stocks, bonds, and mutual funds—all subject to market volatility. However, saving for retirement with a self-directed IRA enables you to create a hedge against market volatility while diversifying your portfolio with a broad array of alternative assets typical plans do not allow.

With a self-directed IRA, you can include nontraditional investments that you already know and understand—and may already be investing in outside of your existing retirement plan. You can take advantage of interesting investment opportunities that arise with greater agility. And you can create a long-term investing strategy with assets whose performance is not correlated with the stock market.

There are so many ways to build retirement wealth by including alternative assets within a self-directed IRA. Assets that you can include in that protective shield around your retirement savings include (but are not limited to):

• Real estate
• Precious metals
• Private equity
• Commodities
• Royalties
• Mineral rights
• Unsecured and secured loans
• Impact/ESG investments
• Tax liens

Contact Next Generation to get started

Next Generation offers full administration of self-directed retirement plans as well as custodial services for the assets within those plans. If you need more information about all the benefits and options of self-direction as a retirement wealth-building strategy, you can schedule a complimentary education session with one of our knowledgeable team members. If you are ready to open a new self-directed IRA or another type of account (such as a solo 401(k), HSA, or Coverdell ESA), you can go to our starter kits for the forms and step-by-step instructions.

Still have a question? You can text us through our website, or contact Next Generation by email at NewAccounts@NextGenerationTrust.com or by phone at 888.857.8058.

Spring Into Retirement Savings with a Self-Directed IRA

The trees are budding, flowers are blooming, and breezes are warming throughout most of the United States. And in self-directed IRAs across the land, alternative assets are offering more creative ways to save for retirement, while providing a hedge against growing concerns around the volatility of the stock market.

There’s still time to maximize your savings by contributing to a new account for both 2022 and 2023—for Traditional and Roth IRAs, that is up to $6,000 for 2022 ($7,000 if you are age 50+) and $6,500 for 2023 ($7,500 if you are age 50+). You have until the tax day deadline, which is Tuesday, April 18^th, to take advantage.

So, what’s an account owner to do with those funds?

Grow your retirement savings through self-direction

By opening a self-directed IRA this spring, you open the door to a wide array of investment options that can be included in these types of accounts.

A self-directed IRA enables you, the investor, to build a more diverse retirement portfolio by investing in assets you already know and understand—and might already be investing in outside of your existing IRA.

The idea behind self-direction is that the account owner is truly self-directed—comfortable making all investment decisions, doing all the research and due diligence on the investment, and directing one’s retirement portfolio quite actively (but there are plenty of more passive opportunities out there as well!). The plan administrator executes the transactions upon the account owner’s instructions and the custodian holds the assets on behalf of the IRA.

Why a self-directed IRA?

Unlike typical brokerage accounts that limit your IRA to stocks, bonds, and mutual funds, self-directed IRAs can include a broad array of nontraditional investments. These include real estate, precious metals, royalties, private equity, secured and unsecured loans, and many more. You can read up on this on our FAQ page.

In short, if a certain investing opportunity arises that makes sense for your retirement saving goals, you can go for it within your self-directed IRA. You can include assets that align with your values, such as certain ESG investments and social causes. These alternative assets tend to not correlate with the stock and bond markets, so typically, they deliver returns over the long term without the volatility many other investors experience. And you’ll get the same tax advantages as a regular IRA, whether those retirement savings grow tax-deferred or tax-free.

Take a fresh look at your retirement savings this spring

When spring is in the air, it brings a feeling of renewal to many people. It’s a great time to renew your commitment to saving for retirement—perhaps in a new way with a self-directed IRA. If you have questions about this retirement strategy, you can schedule a complimentary educational session with a Next Generation representative who will explain how self-directed IRAs work and the many options available through these plans. We invite you to watch our on-demand webinars as well, which focus on various alternative asset classes. You can always call us at 888.857.8058 or email NewAccounts@NextGenerationTrust.com. At Next Generation, we love to talk about self-directed retirement plans at any time of the year!

Jaime Raskulinecz, CEO of Next Generation Services, Shares Insights About Prohibited Transactions in Self-Directed IRAs With Forbes Finance Council Readers

Article Explains Common Errors Investors Make Related to Alternative Assets Within Self-Directed Retirement Plans

ROSELAND, NJ, March 27, 2023 /24-7PressRelease/ — Jaime Raskulinecz, founder and CEO of Next Generation Services, LLC, has published an article in the Forbes Finance Council column titled, “Why You Need to Understand IRA Prohibited Transactions.” In it, she explained what constitutes a prohibited transaction according to IRS guidelines, and common errors self-directed investors make that are related to the alternative assets allowed within self-directed IRAs.

Self-direction allows investors to include many alternative assets—such as real estate, precious metals, private equity funding, and royalties—within their retirement plans. Next Generation provides comprehensive account administration and asset custody for its clients who self-direct their retirement portfolios. As such, Next Generation’s transaction support team ensures that clients’ investments comply with IRA guidelines. However, as Raskulinecz noted in her article, there are three common errors investors make in relation to those assets, that create a prohibited transaction.

“The three types of prohibited transactions investors should avoid are per se, which is engaging in a transaction with a disqualified person; extending credit from the IRA to a disqualified person; and self-dealing, in which the IRA owner or other disqualified person benefits from the retirement account’s investments,” said Raskulinecz. “It is important to understand these, to avoid losing the tax-advantaged status of the self-directed retirement plan and trigger unfavorable tax consequences.”

The article contains several examples of how prohibited transactions may occur with different types of alternative assets, and the negative tax consequences that ensue. You can read the full article here.

To learn more about Next Generation Services or self-direction as a retirement strategy, visit www.NextGenerationTrust.com.

About Next Generation Services, LLC
Founded on the philosophy that every person should have control over their retirement plans, Next Generation educates consumers and professionals about self-directed retirement plans and nontraditional investments, a strategy at one time reserved only for the very wealthy. Next Generation Services provides comprehensive account administration and transaction support, and its sister company, Next Generation Trust Company, acts as custodian for all accounts. The neutral third-party professionals at Next Generation expertly guide clients and their trusted advisors as part of their white glove, personalized service for a seamless transaction experience from start to finish. For more information, visit www.NextGenerationTrust.com, or contact Next Generation at 888.857.8058 or NewAccounts@NextGenerationTrust.com.

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Next Generation Services Announces that all Eligible Staff Members Have Earned SDIP Designation from RITA

Employees Have Met all Qualifications as Self-Directed IRA Professionals from the Retirement Industry Trust Association

ROSELAND, NJ, March 24, 2023 /24-7PressRelease/ — Jaime Raskulinecz, founder and CEO of Next Generation Services, LLC, has announced that all team members directly involved with client services, marketing, sales and operations have earned the designation of self-directed IRA professional (SDIP) from the Retirement Industry Trust Association (RITA).

The SDIP certification program is for professionals who exhibit dedicated technical, operational and compliance-oriented expertise regarding self-directed IRAs. According to the RITA website, the certified SDIP designation signifies that an individual working in the self-directed IRA industry has attained comprehensive training in IRA alternative investments, UBTI, anti-fraud measures and disclosures, IRA documentation, reporting, eligibility and contribution requirements, IRA portability and distributions.

Next Generation provides comprehensive account administration and asset custody for its clients who self-direct their retirement portfolios. Self-direction allows investors to include many alternative assets—such as real estate, precious metals, private equity funding, and royalties—within their plans.

“Given our dedication to client service, we all recognize the importance of being knowledgeable about all aspects of self-directed retirement plans,” said Raskulinecz. “The demonstrated expertise of our team is applied every day in how we administer our clients’ accounts, and provide client education.”

Staff members of Next Generation earned the certified SDIP designation as follows:

• Jaime Raskulinecz, Founder & CEO, January 2020
• Karen Jung, Director of Finance, March 2020
• Kyle Schickram, Operations Manager, January 2016
• Bill Wittler, Transactions Manager, May 2016
• Emma Olson, Client Service Supervisor, January 2020
• Jack Malpass, Business Development Specialist, May 2021
• Lisa DeSimone, Client Service Associate, July 2022
• Erica Figueiredo, Marketing Specialist, June 2022

Criteria for SDIP designation
Candidates for the SDIP designation must have a minimum of two years of dedicated IRA operational and technical expertise, after which they attend the RITA IRA Advanced Institute and pass the RITA IRA Advanced Institute exam. Additionally, candidates must either pass the RITA IRA Fundamentals test or have a CISP (Certified IRA Service Professional) designation, which is administered by the American Bankers Association; Schickram and Wittler both have CISP designations as well.

Successful SDIP candidates also require a letter of recommendation attesting to their professional qualifications and experience in the field. SDIP designees must maintain their certification via continuing education on an annual basis.

More information about RITA and SDIP certification can be found here. To learn more about self-direction as a retirement strategy, visit the Next Generation website at www.NextGenerationTrust.com.

About Next Generation Services, LLC
Founded on the philosophy that every person should have control over their retirement plans, Next Generation educates consumers and professionals about self-directed retirement plans and nontraditional investments, a strategy at one time reserved only for the very wealthy. Next Generation Services provides comprehensive account administration and transaction support, and its sister company, Next Generation Trust Company, acts as custodian for all accounts. The neutral third-party professionals at Next Generation expertly guide clients and their trusted advisors as part of their white glove, personalized service for a seamless transaction experience from start to finish. For more information, visit www.NextGenerationTrust.com, or contact Next Generation at 888.857.8058 or NewAccounts@NextGenerationTrust.com.

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Next Generation Shares Industry Insights Regarding High-Net-Worth Investors and Alternative Assets in Self-Directed IRAs

ROSELAND, NJ, March 22, 2023 /24-7PressRelease/ — Next Generation Services has published information regarding how self-directed retirement plans and alternative investments may enable high-net-worth (HNW) investors to build more retirement wealth while also shielding their assets from market volatility. HNW individuals are typically defined as those with at least $30 million in investable assets.

“The latest research shows that self-directed investors have an advantage in the marketplace because they can diversify their assets, protect their portfolios from risky investments, and have the potential for more lucrative returns,” said Jaime Raskulinecz, founder and CEO of Next Generation. “This strategy provides value to high-net-worth individuals seeking tax-sheltered investments that tend to not correlate with the stock market.”

In the face of market volatility, wealthy investors turn to alternative assets

Anyone with heavy investments in stocks and bonds in 2022 has felt the pain of sharply declining portfolio values. Next Generation shared that:

• The disappointing stock market performance led 80% of investors ages 21-42 to seek alternative investments
• Investors with a net worth of at least $5 million have 9.1% of their assets in alternatives to stocks and bonds, up from 7.7% in 2021

Additionally:

• Among high-net-worth individuals, 81% invested in alternative assets in 2020, which comprised half of this group’s assets
• Investors with a net worth of at least $1 million allocated 26% of their assets to alternative investments that year
• Given market conditions, savvy investors and HNW individuals seek long-term investments such as real estate, precious metals, private equity, hedge funds, secured and unsecured loans, among others

Raskulinecz noted that alternative investments are often less volatile than stocks and bonds and can offer a higher rate of return. As these assets provide a hedge against market volatility, making investments within them can reduce risk while enhancing the investor’s ability to build more retirement wealth through tax-sheltered retirement vehicles, such as a self-directed IRA.

However, HNW investors aren’t the only ones who can include alternative assets in their retirement portfolios. In fact, anyone can self-direct their retirement investments and include alternative assets within a self-directed IRA, regardless of their financial stature.

Next Generation’s blog and webinars offer educational information about self-direction as a retirement wealth-building strategy and the many investment options allowed in self-directed IRAs. Learn more at www.NextGenerationTrust.com.

Founded on the philosophy that every person should have control over their retirement plans, Next Generation educates consumers and professionals about self-directed retirement plans and nontraditional investments, a strategy at one time reserved only for the very wealthy. Next Generation Services provides comprehensive account administration and transaction support, and its sister company – Next Generation Trust Company – acts as custodian for all accounts. The neutral third-party professionals at Next Generation expertly guide clients and their trusted advisors as part of their white glove, personalized service for a seamless transaction experience from start to finish. For more information, visit www.NextGenerationTrust.com, or contact Next Generation at 888.857.8058 or NewAccounts@NextGenerationTrust.com.

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CEO Jaime Raskulinecz of Next Generation Services Shares Insights in U.S. News & World Report About Self-Directed IRAs

Expert in Self-direction as a Retirement Strategy Comments on Common Mistakes Investors Make

ROSELAND, NJ, March 20, 2023 /24-7PressRelease/ — A recent article in U.S. News & World Report titled “Self-Directed IRA: Know the Risks Before Investing” laid out the basics of self-directed IRAs—what they are and the types of investments these retirement plans allow. Among the industry professionals quoted in the article is Jaime Raskulinecz, founder and CEO of Next Generation Services and Next Generation Trust Company.

Raskulinecz shared her perspective on the ideal self-directed investor and common errors investors make. As she described, self-directed IRAs are best suited for sophisticated investors who take the time to understand the regulations regarding the alternative assets allowed in these plans or those who work with an experienced financial advisor familiar with the alternative investment space. Self-directed IRAs enable investors to include a broad array of alternative assets within their plans, such as real estate, precious metals, private equity, secured and unsecured notes, and many more.

As for the common mistakes her firm sees, Raskulinecz noted that the biggest ones involve allowing a disqualified person to use a property owned by the IRA, using personal funds to add to an investment or do improvements, lending funds from an IRA to a friend or associate in order to personally take those funds and later claim it’s a bad loan, and making an investment without adequate due diligence. She also said there is potential for fraud when investors are lured into a transaction with a party that promises unrealistic or outsized returns or cannot provide adequate details about the investment.

“In a perfect world, more advisors would be familiar with this strategy and the rules of self-directed IRAs in order to add to their practice and help investors who might be less sophisticated but could still benefit from the diversification,” she added in the article. To read the full piece, click here.

For more information about self-directed IRAs, rules about disqualified persons, or alternative assets allowed through self-direction, go to www.NextGenerationTrust.com.

About Next Generation Services, LLC
Founded on the philosophy that every person should have control over their retirement plans, Next Generation educates consumers and professionals about self-directed retirement plans and nontraditional investments, a strategy at one time reserved only for the very wealthy. Next Generation Services provides comprehensive account administration and transaction support, and its sister company, Next Generation Trust Company, acts as custodian for all accounts. The neutral third-party professionals at Next Generation expertly guide clients and their trusted advisors as part of their white glove, personalized service for a seamless transaction experience from start to finish. For more information, visit www.NextGenerationTrust.com, or contact Next Generation at 888.857.8058 or NewAccounts@NextGenerationTrust.com.

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Women are Making History in Finance—and Strides in Creating Wealth

March is Women’s History Month—a perfect time to take stock of the many strides and contributions women have made to the worlds of commerce and finance. Those contributions have sometimes had a worldwide or regional impact, and the strides are often more personal. Either way, there is a lot to celebrate, and much work ahead as women continue to work hard to close the gender pay and wealth gaps.

As we noted in this 2021 Forbes Finance Council article, women have fought and progressed to be able to have credit in their names—but longstanding gender norms in families are still somewhat stagnant, although we see societal progress in that realm as well. That said, finance and investment education for women is on the rise, as are online investment platforms that cater to women:

• Ellevest, a relatively early female finance player, provides an investment platform for women by women
• 100 Women in Finance is dedicated to building a more diverse and gender-equitable finance industry by developing the next generation of female leaders in investment or executive roles in finance
• Female Invest (U.K.) is all about financial education for women
• Marmot Finance (Switzerland), and Alpher (U.K.) are women-centric investment platforms committed to closing the financial gender gap
• Girls Who Invest offers financial education and career training for young women

Can you hear the glass ceilings shattering?

Gains in business

According to statistics from Fundera, women entrepreneurs—including women of color—are becoming a major force in commerce in the United States. One figure that stands out is that there are 114% more women entrepreneurs than there were 20 years ago, among others:

• The US has 12.3 million women-owned businesses, representing 40% of all U.S. businesses
• Women-owned businesses generate $1.8 trillion a year
• Women of color started 64% of new women-owned businesses last year and Latina women-owned businesses grew more than 87%

While these figures show promise for the future, others still show a need for more equitable progress:

• Women only receive 7% of venture funds for their startups
• Female entrepreneurs ask for less in business financing than men—around $35,000 less—and the average loan size is almost $5,000 less than what men receive

Lots of room at the top for women leaders—and lots of success for the companies they lead

As a retirement services firm led by a woman founder and CEO, we want to see more women take on the world of finance. There is so much room for growth in this realm as these statistics bear out:

• Quantic reports that only around 6% of the top public financial institutions have female CEOs, while 55% of human resource officers are women (a more traditional role)
• In investment banking, women hold less than 17% of senior positions
• Only 2% of assets and mutual funds are controlled exclusively by women in the United States
• A study by Deloitte and 100 Women in Finance, about leadership and gender equity in financial services firms, states that the number of women in C-suite roles in North America is expected to rise by about 7% in the next seven years:
  1. In 2021, the proportion of women in leadership roles (within financial services firms surveyed) was 24% and this figure is projected to be 28% by 2030; the study’s authors state this figure is still below parity.
  2. Those leadership roles include positions below the C-suite such as executive and senior vice presidents, division chiefs, and regional managers.

At Next Generation, we are fully behind woman-power in the workplace. Here are two amazing reasons why:

1. Private tech companies led by women achieve 35% higher ROI
2. Among companies in the portfolio of the seed-stage venture firm First Round Capital, those founded by women outperformed companies founded by men by 63%

For centuries, women have been behind great successes; we need look no further than the story of the three “Hidden Figures” behind NASA’s milestone moments to grasp that! And we will continue to push open more envelopes to create more opportunities for women in business. There’s no question that when companies keep their employment doors open to women and create a professional path to leadership, great things can happen. We salute all the women who are out there every day, making a difference for their families, communities, and companies!

Celebrating the Women of Next Generation

March is National Women’s History Month. This annual observance has been recognized formally in the U.S. since 1987.

At Next Generation, we have some of our own women’s history—and women to celebrate—that we’d like to share in honor of Women’s History Month. Let’s start at the top with our founder and CEO, Jaime Raskulinecz, CPM, SDIP.

Jaime is someone who has always identified gaps in the marketplace and filled it with what is needed. When she wanted to make real estate investments within her IRA but found there was a lack of professionals to help her make those transactions, she founded Next Generation Services in 2004, as an administrator of self-directed retirement plans. Over time, she recognized that also being the custodian of our clients’ assets would streamline our client service. In 2017 she launched Next Generation Trust Company to do just that.

Jaime is a long-time real estate investor who has also worked in real estate since 1994. She is a certified property manager (CPM) and CEO/principal of Rainbow Property Management, a credentialed real estate management firm. She is also a New Jersey licensed real estate broker, and a member of several national and statewide real estate organizations.

A recognized expert in the field of including alternative assets within self-directed retirement plans, Jaime believes investor education about self-direction should be shared widely. She has contributed articles to prominent real estate and investment publications, has spoken to investment groups, and has been interviewed many times on the topic; she is a frequent contributor to the Forbes Finance Council.

Jaime has earned several prestigious awards throughout her career for entrepreneurship and leadership, which you can read about in her bio on our website.

Karen Jung, CPA, SDIP, Director of Finance recently celebrated her seventh anniversary with us, having started at Next Generation in January 2016. Karen applies her extensive background in corporate finance to her supervision of our internal financial operations as well as the client-related areas of transaction billing and execution. She continually refines our accounting and reporting procedures to improve efficiency. In addition to being a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants, Karen is also certified in human resource administration.

Erica Figueiredo, SDIP, Marketing Specialist started with us in July 2018 and directs many of our marketing efforts. She is most excited by marketing strategy and marketing automation, is well-trained in applications such as Salesforce and HubSpot, and holds several HubSpot Academy certifications for various marketing, sales and operational functions. Whenever you come across one of our social media posts, receive an email from Next Generation, or read one of our blog articles, know that Erica is behind those in some way. She holds a B.A. in communication studies from Kean University.

Emma Olson, SDIP, Client Service Supervisor officially joined Next Generation in August 2018. She reviews our clients’ investment documentation for compliance with IRS regulations and assists with ongoing account management. Her previous experience is in retail and banking so it’s no wonder she does so well working with individual customers and facilitating efficient transactions. Emma has a bachelor’s degree in mathematics with a statistics emphasis from the University of Utah and is an excellent critical thinker who can analyze different situations in a way that is useful in customer service.

Lisa DeSimone, SDIP, Client Service Associate joined the company in September 2020. She is part of the transaction team and assists with client inquiries and transaction support. Prior to coming onboard at Next Generation, Lisa worked for several years in the insurance industry in account management and compliance and has experience in office management, employee training and supervision, and client relations.

As you can see, the history of Next Generation is truly women’s history. All of us (even the guys!) are proud to celebrate these women and everyone’s contributions to the company’s success.

PS – If you are wondering about our team members who have SDIP after their names, this is the Self-Directed IRA Professional (SDIP) designation from the Retirement Industry Trust Association (RITA). This designation is awarded to employees within the industry who have been employed with their respective companies for at least 2 years, complete a pre-requisite training course, and pass the required examination, which demonstrates their IRA technical, operational, and compliance-oriented expertise.