Besides simplification, the effect is to lower the required minimum withdrawal. It is now possible to change beneficiaries after the account owner's death. In the past, a mistake could force heirs to withdraw and pay tax on the account balance soon after the owner's death. Finally, don't sneer at tax deferral. Sure, it's possible to do well with growth stocks, and capital gains taxes are lighter than the ordinary income rates applied to traditional IRAs when withdrawals are made.
IRAs do that.
You may not get preferential tax rates, but at least you'll have an idea of when the taxes will be coming due. If you have to dump IRA investments because of market conditions, you still don't pay the taxes until retirement. IRAs may seem old hat, but remember, an old hat can be good on a rainy day. News Jobs AP Shopping Archives Entertain.