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A recent survey from Charles Schwab revealed that 70% of Americans don't know what required minimum distributions are. The better-informed retirement savers do know, but that doesn't mean they're not going to make mistakes somewhere, if not with RMDs, with IRAs.

The likelihood of mistakes being made is greater because of the legislation embedded in the Further Consolidated Appropriations Act, which was passed in late December. That legislation is, of course, the SECURE Act – a "hodge-podge" of regulations, as one legal practice tactfully put it.

People are learning more about its provisions, the paperwork and systems that need to be changed, the advice which needs to be rejiggered. Still, questions remain. As industry organization FINRA said, just the other day, it's "tricky."